The football club would like to respond to story's circulating on social media outlets in regards to the club approaching the Blue & Gold supporters club, asking for a donation to assist the club , following the suspension of all football due to the coronavirus pandemic currently affecting all of the country.
After reading reports that the Leyton Orient supporters club ( LOSC ) had given a donation of £20,000 ( having already donated £31,000 over the last few months) to help ease some of the cash shortfall created by Leyton Orient's own shutdown, the club approached the Blue & Gold Trust over the weekend asking for a donation to be made to the club to help out in the same way as the donations being made by individual supporters have been.
After consulting with their board members the Trust informed the football club that there was no 'consensus' to lend any money to the football club. Their suggestion was that there was a possibility that a loan could be made but it would be subject to adequate security. They would accept security of a charge on the lease of the stadium which would need to be approved by the Council. This would require Council approval and would not be a short term solution.
The trust further pointed out to the club that if the club defaulted on the loan then whilst Stephen Cleeve would own the football club they would own the lease on the Stadium and we would need to negotiate with them a deal to move forward. We were also told that the trust would add their legal fees to the loan amount'.
The football club has declined the trust's offer of assistance but thank them for speaking to their board of directors and making an offer to the club.
Speaking to the club's official website Chairman Stephen Cleeve added ' We are setting up a Just Giving Page which will have a totaliser so fans can see what is being given and this can be found here https://www.justgiving.com/crowdfunding/kltfc.
We have no idea at this stage what is going on and have been given no direction and so are in a very uncomfortable limbo land - however I have been working 15 hours a day to find solutions and I will continue to do the same until we come out the other side. Keep the faith, keep well and look after each other and thanks to every fan home and abroad who have helped and continue to help the club.