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A consortium headed by Australian Justin Rees exchanges contracts to take over Southend United, buying out Ron Martin.
[155] [156] On 19 July 2024, the COSU consortium completed its takeover of Southend United. [157] Justin Rees became the new chairman, with day-to-day affairs managed by CEO Tom Lawrence. [157] Despite the takeover, the club still expected to report a £2 million loss as money was reinvested in the club's squad and facilities. [158]
Consortium leader Justin Rees says he cannot give a "carte blanche" guarantee that the Southend United takeover will go ahead because of due diligence delays.
On 19 July 2024, the COSU consortium completed its takeover of Southend United. [233] Justin Rees became the new chairman, with day-to-day affairs managed by CEO Tom Lawrence. [233] [d] The Fossetts Farm development remained subject to due diligence by the city council. [233]
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Ronald Martin (born 17 January 1953) is a British businessman who is chief executive of Martin Dawn PLC, an Essex, United Kingdom-based property development company.. After taking an ownership stake in Southend United Football Club in November 1998, he was, from 2000, also the club's chairman, championing its move to a proposed new stadium at Fossetts Farm during financial struggles, including ...
Southend United play in the National League (Kirsty O’Connor/PA) Australian businessman Justin Rees, who leads the consortium, was also at the hearing. In an earlier hearing on Monday, Judge ...
The Fossetts Farm Stadium was a proposed football stadium in Southend-on-Sea, Essex, England for Southend United, replacing Roots Hall Stadium in urban Prittlewell.Initial proposals for the new stadium emerged in 1998; planning permission was applied for, and later confirmed by Southend Council, in 2008.