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Page last updated at 15:36 GMT, Monday, 26 January 2009

Investors happy with Argyle stake

George Synan
Synan's company's investment in has not been affected by the credit crunch

Plymouth Argyle's Japanese investors, K&K Shonan Management Corporation, have said the credit crunch has not affected their plans for the club.

The company, who bought a 20% stake in the club in April 2008, want to improve Home Park and sign Japanese players.

And senior vice-president, George Synan, confirmed the plans are ongoing.

"With the yen being the strongest currency right now in the world it's helped our business considerably," he told a press conference on Monday.

"When we invested the yen was at 210 to the pound, yesterday I changed my cash at the airport and it was 124, so it's a good time to move yen into the UK,"

Our investment with the club is to help Luggy [Paul Sturrock] and help the club hopefully achieve a higher status in the table this year

George Synan

While Synan said the company has found it harder to raise money, the exchange rate has meant that they are still happy with their investment.

"It's nothing major for us but it does cause issues when it comes to leveraging and how much cash you want to outlay versus what's available from financing.

"Right now honestly there's little financing available, you have to be smart with your cash."

And despite the club failing to sign Akihiro Ienaga, he said a Japanese player in the Argyle squad is not essential for his company's continued involvement at Home Park.

606: DEBATE
BP

"It's not a pre-requisite, our investment with the club is to help Luggy [Paul Sturrock] and help the club hopefully achieve a higher status in the table this year.

"If we can bring over players [from Japan] that exposure will help but again we look at this as more of a long-term process.

"It's not going to happen overnight, it's going to take one or two years and it's also a process of making sure that players we do bring over here we trial first and see if they acclimatise to Plymouth."



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see also
Argyle dismayed by Ienaga ruling
19 Jan 09 |  Plymouth
Argyle refused Ienaga work permit
16 Jan 09 |  Plymouth
Japanese players interest Argyle
18 Dec 08 |  Plymouth
Argyle give trial to Japan star
11 Dec 08 |  Plymouth
Argyle appoint Japanese president
20 Jun 08 |  Plymouth
Stapleton welcomes Japanese stake
24 Apr 08 |  Plymouth
Sturrock happy with Japanese cash
18 Apr 08 |  Plymouth


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