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Southend United agree timely sale of club hours before facing possibility of liquidation

Southend United may well be saved from the brink of extinction after announcing that the sale of the club has been agreed with a consortium of buyers

SOUTHEND, ENGLAND - FEBRUARY 01:  A general view of Roots Hall, home of Southend United prior to the Sky Bet League One match between Southend United and Lincoln City at Roots Hall on February 1, 2020 in Southend, England
Southend United might well be saved from the brink of extinction(Image: Getty Images)

Southend United have announced a completion date for the sale of the club after an agreement was reached with a consortium of buyers - as they sit on the brink of liquidation.


Australian businessman Justin Rees had led the group that has now agreed to take ownership of the Essex club, who have offered their thanks to Southend City Council. The Shrimpers had been on the brink of going bust with fans leading a protest against current owner Ron Martin earlier in the week.


The National League outfit, who have won five games this season under Kevin Maher after being deducted 10 points, are due to appear in High Court on Wednesday as they face another winding up petition.


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Southend have now said in a statement: "We can confirm that an agreement for the sale of the Club has been reached with a consortium led by Justin Rees. Everyone is working towards a completion date of 1 November 2023, that is when the consortium will formally take control of the Club.

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"The collaborative approach to agreeing this deal would not have been possible without the support of creditors and the assistance from the Leader of Southend City Council. We recognise that this has been a stressful time for all associated with the Club. We would like to thank our staff for their incredible loyalty and also thank all our stakeholders for their patience."

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SOUTHEND, ENGLAND - OCTOBER 31: General view of Roots Hall before the Sky Bet League Two match between Southend United and Port Vale at Roots Hall on October 31, 2020 in Southend, England.
Their 12,492 capacity Roots Hall might now remain their home under the new owners(Image: Getty Images)

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The HM Revenue & Customs winding-up petition booked in for Wednesday comes after they were warned that the threat of being put out of business was looming. Martin's 25-year tenure will come to the end to the joy of supporters, six months after he announced that he was looking to sell the club, with the announcement made hours before their clash against Oxford City on Tuesday evening.

Martin had previously stated that he would sell his shares in the club for £1 – but wanted £4.5m for the ground he owns. Their points deduction came after their failed to clear debts that total £2.5million - with an appeal against that decision rejected last week.

SOUTHEND, ENGLAND - APRIL 03: A general view of play as Joe Riley of Carlisle United clears the ball out of the box  during the Sky Bet League Two match between Southend United and Carlisle United at Roots Hall on April 03, 2021 in Southend, England. Sporting stadiums around the UK remain under strict restrictions due to the Coronavirus Pandemic as Government social distancing laws prohibit fans inside venues resulting in games being played behind closed doors.
Founded in 1906, Southend provided a huge role in the local community (shown during the pandemic)(Image: Getty Images)

Harry Cardwell of Southend United celebrates scoring during the National League match with AFC Fylde at Roots Hall back in September
Harry Cardwell of Southend United celebrates scoring during the National League match with AFC Fylde at Roots Hall back in September
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Three interested parties failed in their interest before two bids were rejected by Martin from Rees' group earlier this month. Martin has been keen to move Southend to a new site at Fossett's Farm with the group favouring the idea of retaining and upgrading Roots Hall which has been the home of the club since 1955.

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Southend United fans celebrating
It's a massive step in the right direction for the club, and the fans are chuffed

A former member of England's second tier, the Essex outfit were once managed by World Cup winning icon Bobby Moore. Their relegation from the Football League came back in 2021, narrowing missing out on the playoffs last season. A transfer embargo has been on the club for over a year with Maher's job at the club being hailed due to the circumstances.

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