Southend United: High Court gives club another 42 days to complete sale

Southend United were formed in 1906

Southend United have been given more time to secure their future after their latest winding-up petition over unpaid taxes was adjourned for a second time.

The financially troubled National League club were in the High Court over a £275,000 tax bill, with the case previously adjourned in May.

Chairman Ron Martin's request for a further 42-day extension to finalise a sale was granted by Judge Sally Barber.

The Shrimpers are now due back in court on 23 August.

The National League says it is in contact with Southend, adding the matter will be "considered further" at a meeting on Thursday.

In a statement, Martin said he was "motivated" to continue to get the club sold "at pace", adding he had done "everything in my power to close the deal quickly".

He said the extra six weeks requested was for the new owners to satisfy the relevant owners and directors' test and for the necessary due diligence to be completed, adding the process "can't be accelerated".

Martin has been trying to find a buyer for the club since putting it up for sale in March.

He said he had "no intention" of trying to claw back his "substantial investment in the club over the last 25 years".

Martin also gave a breakdown of the sale of the club with 70.6% of shares available for £1 with a free use of Roots Hall for three years, unless the Blues get promoted. Should that happen rent would be charge at 50%.

Southend are set to begin the season at home to Oldham on 5 August - 18 days before their next court date.

Owner 'playing chicken' with club and supporters

Martin, who has owned the club since 2008, said non-disclosure agreements and heads of terms had been signed with "three interested parties" over a potential sale on 26 May.

However, no further updates have been given, with the clock now ticking on any deal being finalised.

Against the backdrop of the turmoil over the club's future, supporters groups began "exploratory work" in February over establishing a phoenix club - should Southend go bust.

Following the court's decision to grant more time to rubber-stamp a potential takeover, Rob Craven from the Shrimpers Trust told BBC Essex the situation remains "really frustrating".

"Ron Martin's been hiding behind non-disclosure agreements and it's been a clandestine process to sell the club or seek investment.

"The supporters are the last to hear anything and today's decision is unsatisfactory.

"It feels like Ron Martin's playing chicken with our football club. He needs to sort this out."

With the club still unable to sign new players because of the debt owed to HM Revenue & Customs, Craven says the club's place in the National League for this season may still be in jeopardy.

"The 42-day adjournment is largely irrelevant because we haven't got that long.

"We were fortunate to have a meeting with the National League on Monday and the sense we got was they were trying to accommodate the club as much as possible, but this matter needs to be sorted for the integrity of their competition.

"If we're in a situation where creditors and staff haven't been paid the indication we got is that the club won't be permitted to play in the National League this season."

Martin needs to 'do the decent thing' - Jobson

Southend have been the subject of numerous winding-up petitions in recent years - with four issued in 2019 alone.

A previous petition was settled in March after the club paid a £1.4m tax bill but financial issues persisted, with players and staff being paid late despite a court order unfreezing the club's accounts.

Speaking before Wednesday's hearing, Robert Jobson, son of the club's former owner Vic Jobson, called on Martin to "do the decent thing" and sell the club as soon as possible.

"The football club is more important than the chairman. Let's make sure the club survives," he told BBC Essex.

"If we had a proper leader, with some people with some deep pockets, we'd be able to get new players and probably double the people we get on the terraces, and probably get back into the Football League.

"It's the people's club and he should look to do the decent thing and do a deal with whoever looking to buy it."