Latest Rumours Southend in debt by £2.4million

[Shrimper]

Was in the Southend advertiser that i saw in the Costcutters on Woodgrange Drive but Southend are apparently in debt of £2.4million. No spending now it seems.

 

[bishmania]

Losses of £2.4m is different to £2.4m debt to be fair.

Expected after Champ relegation and something I'm sure the club are looking at fixing (Hopefully this season's figures read much better than that - but we won't know until next year).

 

[pringlejon]

If you can find a football club that's not in debt, that'll be an achievement, man u are in 600 million pounds of debt or something like that. not a big deal as long as it's sustainable.

 

[Jedi Shrimper]

Yep, that's the Echo for you blowing it out of all proportion. Of course making a £2.4million loss isn't good but it's not at all following relegation. Which is what that figure is for. I'm sure the Echo could have found a better front page - there is an election on afterall.

 

[stevie_G_G_G]

If you can find a football club that's not in debt, that'll be an achievement, man u are in 60 million pounds of debt or something like that. not a big deal as long as it's sustainable.

600 million i thought. Kind of puts our issue into perspective

 

[McNasty]

Was in the Southend advertiser that i saw in the Costcutters on Woodgrange Drive but Southend are apparently in debt of £2.4million.

Yes, but more importantly, what about the finances of the mighty ShrimperZone FC ?

 

[The Flying Scotsman]

Well like SUFC, SZFC don't own their own ground, but we are at least in the black!

 

[chapperzUK]

Are you sure it said Debt and not Loss.

http://www.echo-news.co.uk/theblues/4419473.Blues_post___2_4m_loss/

 

[Clinton Baptiste]

Not good news, could be under pressure to sell the likes of Sankofa and Masters to wipe the debt out.

 

[Davros]

Yes, but more importantly, what about the finances of the mighty ShrimperZone FC ?

you will find out next wednesday, assumung you attend the AGM

 

[Firestorm]

As discussed here last Thursday
http://www.shrimperzone.com/vb/showthread.php?t=51744

the advertiser , being weekly, can be excused, but surely the Echo should have known when the accounts came out

 

[pringlejon]

600 million i thought. Kind of puts our issue into perspective

ha yea, didnt realised i'd missed a zero off!

 

[turkishm]

So is this a dept incured in that season only, and is added onto an ongoing dept that southend have, or is this an overall dept that the club owe. The reason i say this, is because Southends dept has been bigger than 2.4 in last few years.

 

[Crawliano]

"Club gets relegated and suffers financial losses"

Evening Echo in No **** Sherlock story #2,392 of the year.

 

[fredheim_holm]

Lets be clear here that a 2.4m loss this season doesn't mean we now owe another 2.4m on top of all our other debts.

Profit & Loss and debts or cash for that matter are totally different.

 

[The General]

Slow news day and a week old. Very good Echo.

 

[Firestorm]

Lets be clear here that a 2.4m loss this season doesn't mean we now owe another 2.4m on top of all our other debts.

Profit & Loss and debts or cash for that matter are totally different.

the total shareholders deficit has increased to 5,088,516 From 2,869,899 in 2007