'Not a lot of time' for Blues deal to be completed

Due diligence is continuing as a consortium led by Justin Rees works to buy Southend United

A new council leader has warned that "there is not a lot of time" for a takeover deal at Southend United to be finalised.

Outgoing Blues owner Ron Martin exchanged contracts to sell the club to a consortium, led by Australian IT millionaire Justin Rees, in December.

Daniel Cowan, the new Labour leader of Southend-on-Sea City Council, said due diligence was continuing over property involved in the deal.

"If the due diligence comes back with red flags, it’s not a deal that’s going to work for anyone," Mr Cowan said.

It followed Mr Martin, 71, telling the BBC he expected to have sold the club by the middle of May.

Daniel Cowan is the new leader of Southend-on-Sea City Council

Mr Cowan was voted in as head of a coalition of parties leading the local council on Monday, and said he would be briefed on the takeover deal on Tuesday.

He added that he did not think the due diligence would come back with concerns but thought there could be "some queries".

"It's gone on longer than I think was originally communicated to Justin and the consortium - and the fans rightly want news," Mr Cowan told BBC Essex.

"We want to help the club, we will do all that we can and we will make sure that we are transparent about what comes back and give fans and the consortium the answers they so desperately want."

"There’s not a lot of time but we do need to see what this due diligence says."

Justin Rees says the consortium has spent about £3.5m on the club's infrastructure so far, including new training pitches

The Shrimpers are due back at the High Court next month as they face the latest in a series of winding-up petitions.

Legal firm Stewart Law LLP lodged a claim having alleged it had not been paid for work undertaken for the club in previous disputes.

Meanwhile, the National League has imposed a fresh transfer embargo on the club, which could affect planning for next season.

Mr Cowan added that he wanted the due diligence to be completed before Blues were back in court.

He added: "We’re up to the task and will do all we can to get this sort this quickly".

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