Bolton Wanderers chairman Phil Gartside is unconcerned with the £163.8m debt recently announced by the Championship club.
More than £150m of the figure published by parent company Burnden Leisure in December is owed to owner Eddie Davies.
Gartside said: "We owe the bank £8m and there will be many a club who will be envious of having an £8m overdraft.
"Technically it is a debt, but it's not in the sense of a bank debt. It doesn't cause me any sleepless nights."
Speaking to BBC Radio Manchester, Gartside continued: "It is an amount of money that a benefactor has lent to us. It's not bank debt.
"If some other foreign owner does that sort of thing, it would never get a mention. Because it's Eddie Davies and because it's Bolton Wanderers, it gets called debt."
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