In February 2016, in a press conference, VT announced that he was going to convert all the monies owed to him to equity in 5 years. In fairness, he has gone quite a way towards this objective by both equity conversion and debt write offs. However, this does not mean that we would be debt free as I think he has also replaced debt owed to him by debt owed to other parties. I do not know what the latest balance sheet position is regarding our indebtedness (no doubt Keith Morgan can advise) but the 5th anniversary of that promise will be with us in February 2021. We are fortunate in that our final parachute payment will help significantly in getting us through this disastrous season. The vast majority of clubs do not have this cushion. The question is, in the current circumstances, should we expect him to keep his promise and complete the debt conversion ?