Southend United: Talks ongoing with 'three interested parties' over sale

Southend United are working towards moving from their Roots Hall home to a new ground at Fossetts Farm, which is yet to be built

Southend United say that negotiations are taking place with "three interested parties" over the potential sale of the club.

Chairman Ron Martin announced in March that he was looking for a buyer, having owned the club since 2008.

The Shrimpers have been the subject of numerous winding-up petitions in recent years and the latest has been adjourned until 12 July.

Southend finished eighth in the National League this season.

A short club statement said: "Following recent speculation surrounding the sale, we can confirm that Non Disclosure Agreements with three interested parties and Heads of Terms have been issued.

"However, at this time, none of the interested parties have been granted a period of exclusivity."

American-based agency General Sports Worldwide LLC were appointed as advisors to the club when the sale process began two months ago.

At the beginning of the year, chief executive Tom Lawrence said Southend had a funding gap of about £2m a year and needed to press on with plans to vacate their Roots Hall home and move to a new stadium at Fossett's Farm.

Work on the 16,226-seater stadium, though, has yet to begin.

A previous winding-up petition was dismissed in March after Southend paid £1.4m owed to HM Revenue & Customs after fans had begun planning for the possibility of setting up a phoenix club in case they went out of business.

The latest petition was issued by HMRC on 4 May and an adjournment granted two weeks later.