Southend United owner sets out terms of saleNational League side Southend United's owner Ron Martin has set out terms of sale for the club, who are facing a potential winding up petition.
Martin, who has owned the club for 25 years, put the club up for sale in March this year and has released details on the required finances for a takeover of the club to be completed.
Those terms include the parent company of the club selling their full stake for just £1, whilst the club's ground Roots Hall has been valued at £4.5m which Martin says is the same price he paid when he took over the club.
There are a number of outstanding debt issues as well that would need to be addressed, though Martin says these can be settled 'over a period of time'.
Martin went on to say that there has been 'much misinformation and inaccurate rumours. I hope this statement clears that up.'
It was as recently as 2020 that the club were playing in League One, but back to back relegations amid ongoing financial troubles and the Covid pandemic has seen them fall out of the Football League for the first time in their history.
Despite their problems off the field they finished last season just outside the National League play-off places, and begin their campaign against Oldham Athletic next month.
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