News from today's Southend Echo...
Chairman Ron writes off £6.87million to Shrimpers
Southend United chairman Ron Martin has written off £6.87million of the club’s debts.
Blues’ latest accounts dated and filed 30 April show their parent companies have bolstered the financial situation at Roots Hall.
And Martin told the Echo it was another step towards his plan to make the Shrimpers debt free when they make the proposed switch to Fossetts Farm.
“This is the first step to ensuring the club is debt free when moving into its planned new stadium.
“Hopefully once the council’s administration is formed, following the elections, the council will now bring the club’s planning application to committee a priority.
“We have worked closely, and collaboratively, with officers of the council for an extended period but now truly believe we are at last entering the final straight, I do sincerely hope so.”
But Martin has also promised to wipe off even more debt when Blues do leave Roots Hall.
“When the club does move from Roots Hall the balance of the deficit, at that time, of some £10million will also be written off by way of a payment to the club.
“These steps will underpin the club’s future in a new state of the art stadium, providing a legacy to the town for the next century.”