Southend Utd takeover deal 'close', consortium confirms

Australian IT millionaire Justin Rees is leading a consortium that has agreed to buy Southend United

Two members of a consortium that is in the process of buying Southend United football club say a deal is "close".

But during an event in the city on Tuesday, Gary Lockett and John Watson told BBC Essex the takeover is unlikely to be completed this week.

Club owner Ron Martin is in the process of selling the club to Australian IT millionaire Justin Rees.

The pair say they now hope the deal will be completed by the end of the month.

Southend-on-Sea City Council paved the way for the club's sale on 9 November.

A takeover deal with a consortium headed by Mr Rees was agreed on 3 October and was hoped to be completed by 1 November.

Roots Hall has been the home of Southend United since the stadium was built in 1955

The cabinet of the authority approved a report recommending 500 homes would be built out of town instead of at Roots Hall stadium.

A total of 1,300 homes are now earmarked for the site at Fossetts Farm.

The takeover deal is said to be currently undergoing due diligence.

Council-owned land at 291-297 Victoria Avenue, a piece of waste land adjacent to Roots Hall, is now expected to be sold on the open market.

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