Yes but it's as good and sensible move.we have in place a credit facility at 4.5% for 75 mill. Now think if you owed £1000 at 16% you have 1000 in the bank but you need to make purchases at around 1000, you can however finance that purchase at 5%. It make s more sense to use cash to pay off your high interest debt than it does to use it to fund your purchases. You'll be better off. Obviously I'd rather be debt free but the media are just sensationalising and using it as a stick to beat the club despite it definitely being the right move in or current position.