Blues Chairman names his price

Brian Jeeves
Latest posts by Brian Jeeves (see all)

Ron Martin has issued a statement confirming he will sell his shareholding at Southend United Football Club for one pound.

The unpopular Shrimpers Chairman has come under increasing pressure from supporters, fearful that the 117-year-old club will cease to exist in a matter of days.

However, Martin has priced up the Vanarama National League clubs’ run-down Roots Hall Stadium at £4.5m to any prospective buyer.

Mr Martin’s statement read;

In view of the speculation surrounding the sale, and future of the club, I agreed when talking with supporters on Saturday to set down the principal terms we could accept.

It may not be the legacy I wished for the club, but the club’s survival is of most importance. The interested parties have shared the view for a simple deal.

The parent company will sell its entire shareholding in SUFC (70.6%) for £1.

Roots Hall stadium £4.5m. This was the purchase price paid 25 years ago.

We could agree to spread the purchase price of Roots Hall over 3 years with no rent payable in between.

I am happy to sell the new training ground at cost. 

The money to fund the Club’s debt is not required on day one. The Club assesses the cash required in the short term, including settling HMRC (releasing the embargo), to be about £1m. The balance of debts (around £1.5m) can be spread over a period of time, as we have with many of our creditors.

There has been much misinformation and many inaccurate rumours. I hope this statement clears that up.

Meanwhile, Blues fans are once again set to protest outside Mr Martin’s home this Saturday.

Supporters staged a rolling protest last weekend which was sizably supported. A joint statement from the respective supporters groups said;

As a consequence of the continued uncertainty, the groups have agreed to undertake further direct action against Ron Martin, with another sensible and lawful demonstration planned to take place between 11:00am and 2:00pm on Saturday, 22nd July on the corner of Essex Way, Vicarage Hill and Benfleet Road.

Once again, we encourage supporters to bring placards, signs, posters and leaflets and make your feelings clear, but with a zero-tolerance policy on alcohol in effect.

We must continue to make our voices heard as a 117-year-old community asset remains in perilous danger, and the groups will maintain constant dialogue over the coming days to attempt to ensure a brighter future lies ahead.

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Brian Jeeves

Email: sport@yellowad.co.uk