SOUTHEND City Council have agreed new heads of term with Citizen Housing for the revised property plans at Fossetts Farm.

The news was confirmed by council leader Daniel Cowan this evening and came just hours after a winding up petition against the Shrimpers by PG Site Services had been dismissed in the High Court.

Cllr Cowan said: "I am delighted to confirm that new heads of terms have been agreed with Citizen Housing.

"Last night I spoke with Ron Martin and during a frank and unfettered but fair and respectful exchange I made it clear that my patience had run out.

"We agreed that the council has been flexible in trying to negotiate a deal that protects our interest and the future of the club.

"We agreed that the last proposal failed extensive due diligence and that the council's proposal to pivot to a low-rise residential scheme is an all-round better proposition.

READ MORE: PG Site Services reveal reasons for settlement

"We agreed that enough was enough and that today, upon receipt of a workable, best and final offer, we could conclude negotiations on heads of terms and progress to due diligence."

The update comes after the consortium announced it believes buying the club immediately is the only way it can be saved - despite the huge financial risk.

And Cllr Cowan is keen to see it happen.

"Since taking up the leadership of Southend on Sea City Council I have felt that the decoupling of the land transaction from the sale of the football club is the best way forward as it enables us to negotiate a fair and reasonable property deal for the city without an impending existential threat to the club hanging over us," said Cowan.

"The consortium have tabled the option of decoupling to the current owners and I fully support them is this proposal.

"It is the best option to secure the club and stave off the threat from the National League's demands and that must be agreed between COSU and Ron Martin urgently."

Cllr Cowan added that the £1million bond the National League has demanded to be paid imminently is still a issue for the club before adding: "Eyes will now turn to the completion of the decoupling and I hope that the consortium's fair demands can be met."