Plymouth Co-Owner Makes ‘Survival Money’ Injection
By Community | February 28, 2011
Tokyo-based co-director Yasuaki Kagami of English League One soccer club Plymouth Argyle is believed to have made an injection of funds to help the cash-strapped club.
The club, which is believed to have debts of around £10m (US$16.2m), were docked 10 points last week after issuing a notice of intention to appoint an administrator.
American director at Argyle George Synan described the funds as “survival money” and added that he was determined “to get the mess sorted”.
In an interview with BBC Spotlight, Synan stated: “It is not the full amount but it is the first piece of the money that we have said we will invest.
“We are working with the directors on how the cash situation can be resolved.”
Mr Synan, who has not been seen in Plymouth since November, added: “I am trying to arrange a schedule and I hope to be in Plymouth on Wednesday or Thursday.
“This is from Mr Kagami’s personal funds. We are in real estate and we have to let go of assets.”
The co-owner stated that he and Mr Kagami were still keen to play their part in the League One club, adding: “We have a pretty substantial sum invested and we want to get the mess sorted.”