SOUTHEND have been saved by a consortium led by Australian businessman Justin Rees.
A lengthy takeover was finally completed today to secure the National League club’s future.
Contracts were exchanged with former owner Ron Martin in December – nine months after he put the Shrimpers up for sale.
But issues surrounding a housing development in an area Martin planned to move the stadium to held up the sale.
Lees’ consortium, which includes fans, has confirmed that Southend will stay at Roots Hall.
A club statement read: “The consortium is delighted to announce that the purchase of Southend United football club has been successfully completed.
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“All parties would like to take this opportunity to thank the SUFC staff, suppliers, and fans of the club for their unwavering support throughout this period.
“The process, which began in July 2023, was complex and as a result has taken longer than any of us anticipated.
“Completing a complicated deal such as this requires hard work and compromise on all sides.
“With that in mind, we would like to extend our thanks to Ron and Jack Martin, who have acted with integrity and professionalism throughout our dealings, aiming to find solutions as quickly as possible to the many complex and challenging changes that arose along the way.
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“We also thank the councillors and officers of Southend-on-Sea City Council. The three parties have been united in finding a resolution.
“We now turn our attention to the start of the new season and hope that the Southend community will unite behind Kevin Maher and the Blues squad.
“There remains much work to be done but with the support of the city, we are confident of a bright future for the Shrimpers.
“We hope to see you at Roots Hall for our season opener against York City as we begin this new journey together.”
The Shrimpers Trust supporters’ group have loaned money to the club to pay staff wages in the past.
A statement said: “There are still matters to resolve, but they can now be completed in a place where the existential threat towards Southend United has been removed.”
It added: “Southend United has the chance to thrive and rise again on a sustainable and collaborative foundation, and we look forward to playing our part.”
Southend missed out on a play-off place last season because of a 10-point penalty imposed over their financial issues.
The club has an 118-year history.
Our beautiful game is broken, says Dave Kidd
By Dave Kidd
WHEN Manchester United got lucky in their FA Cup semi-final, Antony’s first instinct was to goad heartbroken opponents Coventry. To rub their noses in the dirt.
Antony seems to be a vile individual but this isn’t really about Antony. Because Antony is merely a symptom of the hideous sickness within England’s top flight.
There is so much wrong.
After our elite clubs persuaded the FA to completely scrap Cup replays — which gave us Ronnie Radford and Ricky Villa and Ryan Giggs — without due recompense or reasoning with the rest of English football.
The previous day, after his Manchester City side had defeated Chelsea in the other FA Cup semi-final, Pep Guardiola whinged about the fixture scheduling of TV companies who effectively pay much of his £20m salary.
Up at Wolves, Guardiola’s friend and rival Mikel Arteta was playing the same sad song about fixture congestion, despite his Arsenal side having played two fewer games this season than Coventry — who don’t have £50m squad players to rotate with.
Chelsea, oh Chelsea. The one-time plaything of a Russian oligarch now owned by financially incontinent venture capitalists who have piddled £1billion on a squad of players who fight like weasels in a sack about who should bask in the personal glory of scoring the penalty that puts them 5-0 up against Everton.
Read Dave Kidd’s full column as he takes aim at Nottingham Forest, Fulham’s ticket prices, the 39th game, VAR and much more…
Source: Soccer - thesun.co.uk
