Football club to be sold by mid-May, chairman says

Southend United chairman Ron Martin says he is "99%" sure a deal to sell the club will be completed by mid-May

The outgoing chairman of Southend United has told the BBC he expects to have sold the club by the middle of May.

Ron Martin and a consortium led by Australian IT millionaire Justin Rees exchanged contracts for the sale in December.

But due diligence from several parties involved has slowed down the paperwork needed for the deal to be signed.

Mr Martin said he was sorry for the "tough time" Blues fans have faced during more than a year of uncertainty.

The owner said the process was "moving in the right direction" and his bank needed to sign off a repayment agreement.

Blues supporters protested outside Mr Martin's house last summer

Mr Martin added he was "99%" sure the club would be sold by mid-May.

"I think that’s realistic. Justin knows that and we’re working to the same programme," he told BBC Essex's fans' phone-in.

"I think we are committed to each other - not just through the contract but morally.

"No-one’s trying to slow it down. To the contrary, we’re trying to speed it up."

Stewarts Law, which claimed to be a creditor of the club, lodged a bid to wind up the non-league side in details made public earlier this week.

A judge in the Insolvency and Companies Court in London is due consider its claim on 17 April.

Mr Martin said the firm had "jumped the gun" and revealed his aim to settle with them before the court hearing.

The Roots Hall side's 117-year history has been under threat over the past year

The 71-year-old said he did not think the club would ever have gone out of existence during the past year's challenges.

Blues had debts that previously reached £2.5m, but the proposed sale to Mr Rees and other investors was announced in October.

'I'm sorry'

The side was docked 10 points by the league in August due to previous proceedings at the High Court.

It came just one month after supporters staged a protest outside Mr Martin's house.

"I know it’s frustrating for the fans and I’m sorry to the fans for that because it’s been a tough time, but I think next year will be a great season for the club," the chairman said.

Mr Martin said relegation into non-league football was the "absolute worst day" in his footballing career

He heaped praise on the side's manager Kevin Maher and the staff at the club, and added they had done "fantastically well".

Blues are mid-table and, without the points deduction, they would have been in a play-off spot in the National League.

"Dropping into the National League was the absolute worst day in my footballing life, I never thought that would happen," Mr Martin said.

"That’s a huge disappointment because it’s a very tough league to get out of."

He added: "I am sorry for the fans, it’s been a tough time for them but my focus, as always, was making sure we did get to that safe harbour and passed the baton to someone else who was well funded."