Explanation - chairman Ron Martin has played down Blues’ increased debt after the club’s end of year accounts were released
SOUTHEND United chairman Ron Martin has played down the Shrimpers’ increased debt after the club published their accounts for the year ending July 2019.
The statement showed Blues added another £2.4 million to their overall debt of £17.4million
However, chairman Ron Martin confirmed to Echosport the majority of the debt was owed to his own companies and had already written off £6.8million from the previous year’s accounts.
Martin said: “It is owed to me and my group companies, so there has been no material change in that regard over the past 20 years.”
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