Significant news emerges as Southend United hold a press conference with controversial chairman Ron Martin on Friday afternoon.
Ron Martin announces at that the Shrimpers is ‘commencing a formal process to explore the sale of the club or bringing on board new investment partners’.
This is a sign of better times after an extremely worrying time for the Essex side who are hoping to claim a playoff place, but off the pitch, came close to being wound up with payments made 24 hours before the court hearing.
Ron Martin is here pic.twitter.com/s1HCWorZaK
— Chris Phillips (@CJPhillips1982) March 17, 2023
Ron Martin says a process to explore the sale of the club is starting
— Chris Phillips (@CJPhillips1982) March 17, 2023
‘The introduction of a new custodian or investment partners will not be fast-tracked and will follow due diligence with the assistance of the club’s appointed advisors, American-based sports agency General Sports Worldwide LLC’
— Chris Phillips (@CJPhillips1982) March 17, 2023
The sale won’t be fast tracked but Ron Martin hopes it can be completed before the start of next season
— Chris Phillips (@CJPhillips1982) March 17, 2023
Ron Martin says he has spent £25 million on the club during his time at chairman.
— Chris Phillips (@CJPhillips1982) March 17, 2023
CLUB STATEMENT
At a press conference held at Roots Hall this afternoon, Chairman Ron Martin, along with the Board of Directors, announced that Southend United Football Club Ltd (“Southend United”) is commencing a formal process to explore the sale of the Club or bringing on board new investment partners.
Southend United’s parent company has undergone a strategic review as part of a formal process designed to maximise the Club’s widely recognised potential and to enable the Club to fully capitalise upon the significant infrastructure that is being delivered at the new stadium site at Fossetts.
The introduction of a new custodian or investment partners will not be fast-tracked and will follow due diligence with the assistance of the Club’s appointed advisors, American-based sports agency General Sports Worldwide LLC, who have overseen the successful sale and purchase of sporting clubs both in the UK and the USA. Mr Martin and the Board trust their expertise to deliver the Club’s objectives.
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.
I, together with our contracted development partners, institutional funders and our partners at the City Council remain committed to delivering, at pace, an outstanding scheme at Fossetts from which Southend United and the wider City will benefit for generations. The new stadium and its commercial income-generating opportunities will provide the infrastructure for the Club to maintain a stable financial footing, enabling the Blues’ to fulfil its long-held potential on the pitch and transform the Club into a profitable enterprise.
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.”
General Sports Worldwide LLC is acting as the Club’s exclusive agent, led by Andy Appleby in the USA and Jez Moxey across EMEA. DLA Piper International LLP is the appointed legal counsel.
Southend United do not intend to make further announcements regarding the strategic review, unless and until the Board of the Football Club has approved a specific transaction or another course of action requiring a formal announcement.
Fans reacted to significant news emerges as Southend United hold a press conference with chairman Ron Martin…
@liamwag9: Never thought I’d see that ever…happy days
@Kaylalula: At long bloody last!
@SimonGDodd: We wanted an exit strategy. We have one of sorts. Time to leave, Mr Martin.
@sjapresley: Let’s not get too excited…he has to get a buyer or partner first, and from recent rumours, it may be a case of “better the devil you know”
@JacckCFC: Please someone who loves football and has a lot of money to spend to take us the leagues please. If they love Southend United and have money then even better
@matthewdriver07: Call me cynical here but does anyone else think this is all smoke and mirrors, to get supporters to now part cash for season tickets?
@TomSalmon123: A massive step in the right direction, finally Ron Martin open to selling the club! Although I will believe it when I see it, not like Ron to go back on his word! Let’s hope he doesn’t drag out this process too long but also doesn’t rush anything!
@iconic_ironic_: Brilliant. Hope this marks the start of a new chapter for a good club.
@JoshTyrrell03: Everyone get down to Roots Hall tomorrow 🔵😮💨
@antsk: Should have been done YEARS ago, but positive news! Up the blues!
@gafferwoody: Yessssss!!!!! Now to find the correct buyer or partners
@hfitch121: I’M DREAMING
@BenMapp02: Great news for Southend. Owners like him shouldn’t be anywhere near football
@lewismarsh93: 🙌 praise the Lord its happening!!!!
@JacckCFC: I DONT DRINK BUT IM ON THE PISS
@SUFCcode: COME ON MAN IM CLOSE TO TEARS
@georgiapcsmith: Roots Hall is going to be bouncing tomorrow 😍😍😍😍😍😍
@LauraBlenes: Is… Is this real?! Are we really going to continue having a club AND be able to love it without hatred behind it? 👀💙
@iiiShauniii: made my day 10x better
@Jamesr02_: Class news for these
@LiamGlover_: YA BEAUTYYYYYYYYYY
@SpireiteC: Southend oldham and scunny now saved this season. What a season it’s been for football fans, so happy for all the Southend fans out there 💙
@hfitch121: The start of the end of the RM era 🥹🥹
@LiamHammond5: Very pleased for all involved. Incredible people at the club with a fantastic fan base 💙
@Lord_Football: Its a start. Though of course he has had offers recently. Maybe the pressure we all put on has paid off.
@DanNorthcott14: Never have I been so happy to see the corner flag! It’s finally happening
@james_d_c: Yes yes yes finally
@KetchleyShane: I think I have just got a semi
@DeadlyMonkfish: Genuinely never thought I’d see Ron Martin sell up.
@danc098: Hopefully the first day of a new adventure for this great football club. We don’t deserve to be in the state we’re in, and need to be back up where we belong 🔵⚪
— Pel (@P_Rourke) March 17, 2023
— Lewe (@lew32323) March 17, 2023
What a day! The beginning of the end of Ron 🥹 https://t.co/bpSyN3HtVg pic.twitter.com/ezNc360a8v
— Andrew Strutt (@Strutty27) March 17, 2023
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