CELTIC plc have released the Interim Report for the six months to December 31, 2012

Must be the only Club in the Champions League last 16 that's almost Debt free.

 

There is a significant difference between "debt free" and "free of bank debt".

It is a totally positive thing that our bank debt is almost zero, but Sevco have a bank debt of zero. (Because no bank will give them credit).

However we will still have debts, to catering companies, to staff, to former players possibly, also very likely we have transfer fees we haven't finished paying among a host of other things.

We also have the liability of every player's contract as well as Lennon's which can quickly turn into a useless debt with a bad injury or a sacked manager.

The day to day running of the club will always create more debts which will get paid off in time so aren't a significant deal.

Debt free however we are not.

Nothing negative to take from these results and not having a £7 million bank debt is bloomin' excellent, but it doesn't mean we are rolling in dough.

 

We actually do have Bank debt.

We owe £10.4million in a bank loan and owe £493k in overdraft and also owe other teams £13.6million.

So overall we owe £24.5million to banks and teams but we have £10.7million in cash, have definetly got another £11.34million to come in before the end of the year(probably UEFA bonus money and sponsorship money and stuff) and are owed £8.6million from other teams.

 

The interim report is clearly talking about 'net bank debt' which is a simple metric that shows a company's overall debt situation by netting the value of a company's liabilities and debts with its cash and other similar liquid assets.

We still have loans & debts to pay but we are able to pay them without liquidating assets, i.e. selling players/asking banks for overdrafts etc.