Just had a look at the Co-operative Bank plc Annual report and accounts 2013 and it looks like they don’t want a bar of the Celtic plc loans which are the largest Football club loans.
Let’s have a look at Risk Management and the Football clubs categories:
Now under the first category BaCB there are zero Football Club loans. What does BaCB mean in the Glossary:
Under the second category Corporate CoAM we have the Celtic loans of £32.2 million. And what does CoAM mean in the Glossary:
In other words the Co-operative Bank Risk Management team has woken up and decided that the Celtic plc loans are uneconomic and a financial disaster and have to be unwound asap.
Presumably the Hedge Funds controlling the bank are of the same mind except they tend to act a bit quicker.