US entrepreneur provides new Southend investment

Shivaas Gulati is part of Justin Rees' consortium

Southend United have been boosted by new investment from US-based technology entrepreneur Shivaas Gulati.

He has joined the consortium, headed by Australian Justin Rees, which took over the National League club in the summer.

COSU (Custodians of Southend United) bought the club from long-time owner Ron Martin following years of financial problems.

"I've been impressed by all the work COSU and the team have already done in a short period of time, and the potential we have in front of us to make this one of the most sustainable and modern clubs in the country," Gulati said.

He was a co-founder of international money transfer company Remitly in Seattle in 2011, but left two years ago to explore new opportunities.

His undisclosed investment in the Shrimpers comes with a place on the board of directors and he is COSU's 11th member.

"Since we first met six months ago, we’ve taken the time to get to know each other and ensure we share the same values and vision for the club," said club chairman Rees.

"Together, we’re committed to building a community-centric club that achieves success sustainably.

“He brings not only a track record of building impactful, dynamic organisations but also a genuine passion for football and the Southend United story."

Southend are 14th in the National League under boss Kevin Maher, having missed out on last season's play-offs because of a 10-points deduction imposed because of the financial issues.

Meanwhile, the Shrimpers are considering whether to re-open Roots Hall's North Bank on a full-time basis after doing so for last weekend's FA Cup tie against League One side Charlton Athletic.

In a letter to supporters, chief executive and COSU member Tom Lawrence has asked supporters to let the club know whether they would be interested in migrating from other parts of the stadium to seats in the North Bank.

The club say there are "operational costs" involved in reopening that part of the ground.

"If there is significant support for it, we will finalise a revised stewarding plan and secure approval from all relevant stakeholders in advance of the game against Forest Green Rovers on Saturday, 23 November," Lawrence added.