Southend United owner Ron Martin exploring sale of the club
Southend United's owner is exploring the possible sale of the club.
Chairman Ron Martin and the Board of Directors made the announcement at Roots Hall on Friday afternoon.
They confirmed the process had begun to "explore the sale of the Club or bringing on board new investment partners", a Southend United statement said.
Jamie Forsyth, co-editor of the All At Sea fanzine, welcomed the news and said it was "what fans have wanted for some time".
The Essex club has been under financial threat in recent years and almost was closed down last month.
United owed a reported £1.4m to HM Revenue & Customs and faced a winding up hearing at the High Court, but paid the money before the hearing.
On Friday, Southend United said the "strategic review" was "designed to maximise the Club's widely recognised potential".
The potential sale of club "will not be fast-tracked", the statement said, and will be overseen by American-based sports agency General Sports Worldwide LLC.
Chairman Ron Martin said: “The strength of Southend United lies in the passion of its fanbase, its historical and cultural importance to the city and the value in its relocation to a new state-of-the-art stadium at Fossetts – a project that has never been closer.
"The £2million new training facility is almost complete and shall be ready for use when the players return from the close season. Completion of the Club’s new training ground represents the first phase of infrastructure, enabling the stadium and residential phases to commence.
"Tenders for those works, both stadium and residential, have now been received with works programmed to commence later this year."
Martin added that he believed the new stadium would provide the club with the correct infrastructure to maintain a "stable financial footing".
Martin said: "I would like to take this opportunity to thank the team here at Southend United for the last 25 years, lead most recently by CEO Tom Lawrence, from the match day staff, welcoming fans at Roots Hall, to the departments you rarely see.
"Their dedication, support and commitment has been invaluable in contributing to our future. Thank you.”
Jamie Forsyth, co-editor of the Southend United All At Sea fanzine, said: "I'm really happy.
"[The news] is something that we’ve really wanted for some time. What we’ve been hoping for is an exit strategy.
"There’s a lot of hope here."
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