SOUTHEND was saved by a consortium led by Australian businessman Justin Rees.
A long-running takeover was finally completed today to secure the future of the National League club.
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 where Martin planned to move the stadium delayed the sale.
The Lees consortium, which includes supporters, confirmed that Southend will remain at Roots Hall.
A statement from the club said: “The consortium is pleased to announce that the purchase of Southend United football club has been successfully completed.
“All parties would like to take this opportunity to thank SUFC staff, suppliers and the club’s fans for their unwavering support throughout this period.
“The process, which began in July 2023, was complex and, as a result, took longer than any of us anticipated.
“Completing a complicated deal like this requires hard work and commitment from all parties.
“With this in mind, we would like to extend our thanks to Ron and Jack Martin, who acted with integrity and professionalism throughout our negotiations, with the aim of finding solutions as quickly as possible to the many complex and challenging changes that have arisen throughout of the way.
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“We would also like to thank the councilors and leaders at Southend-on-Sea City Council. The three parties were united in seeking a resolution.
“We now turn our attention to the start of the new season and hope the Southend community unites around Kevin Maher and the Blues team.
“There is still a lot of work to be done, but with the city’s support, we are confident of a bright future for Cameroon.
“We look forward to seeing you at Roots Hall for the season opener against York City as we begin this new journey together.”
Supporters group the Shrimpers Trust have lent money to the club to pay staff salaries in the past.
A statement said: “There are still issues to resolve, but they can now be completed in a place where the existential threat to Southend United has been removed.”
He added: “Southend United has the opportunity to thrive and grow again on a sustainable and collaborative basis, and we look forward to playing our part.”
Southend missed out on their play-off place last season because of a 10-point penalty imposed due to financial problems.
The club has 118 years of history.
Our beautiful game is broken, says Dave Kidd
By Dave Kidd
WHEN Manchester United got lucky in the FA Cup semi-final, Antony’s first instinct was to provoke heartbroken opponents Coventry. To rub your nose in the dirt.
Antonio appears to be a vile individual, but he is not really Antonio. Because António is just a symptom of the horrible disease in the English top flight.
There is so much wrong.
After our elite clubs persuaded the FA to scrap World Cup replays completely – which gave us Ronnie Radford, Ricky Villa and Ryan Giggs – without due reward or reasoning with the rest of English football.
The previous day, after Manchester City defeated Chelsea in the other FA Cup semi-final, Pep Guardiola complained about the match schedule of the television companies that actually pay a large part of his £20 million salary.
At Wolves, Guardiola’s friend and rival Mikel Arteta was playing the same sad song about fixture congestion, despite his Arsenal team having played two fewer games this season than Coventry – who have no £50 players million to switch.
Chelsea, oh Chelsea. The former toy of a Russian oligarch now owned by financially incontinent venture capitalists who have spent £1 billion on a team of players fighting like weasels in a sack over who should enjoy 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 ticket prices, Game 39, VAR and more…
This story originally appeared on The-sun.com read the full story