COSU (Custodians of Southend United) have successfully completed the takeover of Southend United Football Club.
The process in gaining ownership of the National League side began in July 2023.
Led by American businessman Justin Rees, delays in the takeover with the local council left United fans concerned for their club’s future.
The Shrimpers’ 118-year existence has been in jeopardy since Ron Martin put the club up for sale in March 2023.
They suffered a 10 point deduction last season, but despite uncertainty they finished 9th in the National League under Kevin Maher – they’d have achieve a play-off spot without the deduction.
Terms were agreed with Ron Martin on July 2 and confirmation of the takeover was made public today.
The club’s official website released a statement:
“We would like to extend our thanks to Ron and Jack Martin, who have acted with integrity and professionalism throughout our dealings, aiming to find solutions as quickly as possible to the many complex and challenging changes that arose along the way.
“We now turn our attention to the start of the new season and hope that the Southend community will unite behind Kevin Maher and the Blues squad.
“With the support of the city, we are confident of a bright future for the Shrimpers.”
(Picture courtesy of Alamy)
