Following a year-long negotiation process with outgoing chairman Ron Martin, the Justin Rees-led team has successfully acquired Southend United.
The Echo is aware that, despite Martin’s current ownership of Roots Hall, the club has a £1 lease for more than 20 years and a clear road to obtaining the freehold well within that period.
While the council worked to come to an agreement with Ron and Jack Martin on the updated property plans at Fossetts Farm, the consortium’s original deal was postponed.
But after more pressure from the National League, the football team was finally separated from the real estate portion of the project to allow for the takeover. It is also understood that Martin has paid off all of his debt and will make a sizeable donation to the development of Roots Hall.
