THE consortium are another step nearer completing their takeover of Southend United after agreeing terms with chairman Ron Martin, the Echo understands.
Justin Rees, who heads up the group of businessmen, flew in from Australia at the start of the week to speed up talks while Jason Brown, another consortium member, came back from Hong Kong in a bid to get the deal done.
The consortium have decoupled taking control of the Shrimpers from talks surrounding the property plans for Fossetts Farm which had been expected to see them receive £20million to redevelop Roots Hall.
But that contribution is now understood to be smaller.
However, after three days of intense talks, an agreement has been reached and lawyers have been instructed.
But it is expected the deal will still take time to be executed and cannot be considered 100 per cent completed until everything is officially done.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel