He's basically saying it was used to balance off the account, not used as a matter of course to pay off debt. From his version of the minutes; The player account has to balance, this is normal. In the past the owners have topped this account up with significant sums but we are now seeking to be self funding which is, in my view, much more sustainable and, in fact, more in keeping with where football regulation may be heading. The key point is that the idea that somehow we have sold a player to pay off bank debt is just wrong. It isn't possible. Last summer a large amount of debt was paid off by the owners personally. And at the same time, they having by then invested some 130m pounds, it was agreed we would fund our transfer spending for the time being out of our own resources, simple as that.