SOUTHEND United chief executive Tom Lawrence admits he was surprised by the timing of punishments the National League tried to impose.
Documents released today revealed the Shrimpers successfully appealed against conditions the league tried to place on the club’s license.
But Lawrence was left shocked by the timing of the league’s actions which included them wanting a bond to be paid to prove Blues could see out of the season.
In a statement released this afternoon, Lawrence said: "Whilst I acknowledge that since dropping into the National League, the club has caused the National League executive a few headaches (and we are grateful for the support that has been provided to us by the National League over the years), I found it hard to understand the timing of the bond, its magnitude and the short lead time to comply.
“I say that because, since joining the National League our financial health has improved.
“By way of example, since becoming a member of the National League, we have paid £1.93million of HMRC debt (clearing what had accrued during the COVID period), we have reduced historic trade creditor debt by £1.5m (thanks to COSU) and we have moved from a position of delinquency to compliance in respect of Companies House filings.
“On top of that, our trading position has improved too - our operating losses have reduced - all pointing to a much-improved financial position.
“This of course in addition to the sale of the club being at the time, very close to completion.
“We have, privately, provided the National League with feedback on their approach and the process they followed.”
However, Blues have avoided further punishments and Lawrence is keen to focus on the future.
“In any event, we successfully appealed the decision - and we can move forward positively,” said Lawrence.
“I am very grateful to Nick De Marco KC for his support.
“Nick advocated at the hearing on 4 July, he is a legal beast and we were lucky to have him in our corner.
“All’s well that ends well.
“I am glad these issues are now behind us and everyone at the club looks forward to working positively and in collaboration with the National League going forward.”
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