The board of Southend United Football Club has released the following statement this evening:

On Monday morning the Board received an offer through a local solicitor on behalf of a number of unnamed investors.

The Board is always prepared to consider proposals that are in the best interests of the Club.

After an exchange of correspondence it became clear that such a transaction could not be structured in the time available. In any event our information is that the proposed structure would still result in a 10 point deduction. The Board's advice to its major shareholder was that the resources of the Club continue to be focused 100 per cent on the other alternatives already being pursued.