The outgoing chairman of Southend United has informed the BBC that he expects to sell the club by the middle of May.
In December, Ron Martin and a partnership fronted by Australian IT tycoon Justin Rees exchanged sales contracts.
However, due diligence by various parties involved has stalled the paperwork required for the transaction to be signed.
Mr Martin apologised for the tough time Blues fans had endured during more than a year of uncertainty.
The owner stated that the procedure was moving in the right direction and that his bank needed to sign off on a repayment plan.
Mr Martin stated that he was 99% confident the club would be sold by mid-May.
I believe that is realistic. Justin is aware of this, and we are all working to the same schedule, he informed BBC Essex’s supporters on the phone.
I believe we have a moral commitment to each other, in addition to the contract.
No one is trying to slow it down. On the contrary, we’re attempting to speed things up.
Stewarts Law, which claimed to be the club’s creditor, filed a bid to wind up the non-league side, according to details made public earlier this week.
On April 17, a judge in London’s Insolvency and Companies Court will consider its claim.
Mr Martin claimed the firm had “jumped the gun” and indicated his intention to deal with them before the court hearing.
The 71-year-old stated that he did not believe the club would have gone out of existence despite the struggles of the previous year.
Blues had previously incurred debts of £2.5 million, but the potential sale to Mr Rees and other investors was disclosed in October.
The league punished the team 10 points in August as a result of prior High Court proceedings.
It came barely a month after supporters held a protest outside Mr Martin’s home.
I know it’s frustrating for the fans and I’m sorry to the fans for that because it’s been a tough time, but I think next year will be a great season for the club, he said.
He praised the side’s manager, Kevin Maher, and the club’s staff, saying they had done “fantastically well”.
Blues are in the middle of the table and would have qualified for the National League play-offs if not for the points deduction.
Dropping into the National League was the absolute worst day in my footballing life, I never thought that would happen, Martin remarked.
That’s a huge disappointment because it’s a very tough league to get out of.
He went on to say: I am sorry for the fans, it’s been a tough time for them but my focus, as always, was making sure we did get to that safe harbour and passed the baton to someone else who was well funded.
