Boost - the Shrimpers Trust have loaned Southend United £40,000 in a bid to ease the club’s cash concerns. (Image: FOCUS IMAGES)
THE Shrimpers Trust have loaned Southend United £40,000 in a bid to ease the club’s cash concerns.
Blues are still struggling to pay their staff for October.
Speaking at the Shrimpers Trust AGM, chairman Paul FitzGerald confirmed the loan had been made.
He said: “Two weeks ago we became aware of a serious shortfall in the club’s ability to pay non-playing staff.
"We discussed this, and despite our obvious concerns, we have loaned the club a significant sum.”
“At that time, based on the evidence we were given, we felt it was the right thing to do.”
The terms of the loan mean the club are expected to pay back the Trust within the next three months.
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