Apologies if I have missed this on another post but for me the big issue around the club debt isn't so much the amount but who it is owed to. Who do we owe this £1.2m being quoted? Under IOR we technically had over £11m of debt with all of that being owed to IOR themselves. If the current debt is owed to Sage Investments then to me thats a completely different position than HMRC , the banks or a wonga-style loan company. Given Sage own a significant share in the club then there is less likely to be a requirement to pay immediately if it was them owed the money - they technically owe themselves if that was the case.