Source: FOOTYMAD
Sainsbury's save Shrimpers with further £5million loan
It's a matter of public record that retail giant Sainsbury's want to turn Roots Hall into a supermarket after we build a new ground, and here's some figures that show how much! Roots Hall 2012Evidence produced to the High Court Monday proved Southend United was indeed a solvent business when Sainsbury's agreed to loan the Shrimpers a further £5million so the club can pay off it's debts over the next year.This figure is officially capped at £5,071,711, and it's all in a signed agreement folks sitting with the Judge.Another document produced showed that nearly £3million of the above figure had already been used clearing up earlier debts!And they included; a mega £1.6m to Ron Martin companies, £275k to the club's own directors, that £140k to Charterhouse, £100k to HMRC, £72k to Deloitte LLP, an interesting £31k to Bibby Factors Finance whoever they are, £14,763 to HQ Hospitality and £4,851 to Soouthend Theatres, blimey that must have been one hell of a play.So maybe Ron will give some of that dosh back to the Shrimpers Trust!Still it gives further proof that it looks as if Sainsbury's will continue to bail us out till they get their hands on Roots Hall, and let's all hope that chairman Ron Martin, starting the season with a relative clean sheet, doesn't bugger it up this time around.Do you agree that Uncle Ron has got away with it, vote on our S24 poll, here:www.southendunited-mad.co.uk/polls/loadpoll.asp
