Southend Utd to 'write off funds' owed by ex-owner

The owners of Southend United Football Club say they expect to write off funds owed to them by the side's former owner.

Ron Martin, who owned the club between 1998 and 2024, was made bankrupt following a hearing at the Insolvency and Companies Court on Tuesday.

A consortium, Custodians of Southend United (Cosu), completed a lengthy takeover of the National League side in May 2024, after it came close to extinction.

Cosu said the outcome of Martin's insolvency hearing was "expected to result in a significant balance-sheet write-off" concerning money paid to keep the club running before the takeover.

The court confirmed to the BBC that Judge Briggs made a bankruptcy order against Ronald Martin on 6 January, and that the order was made on a petition presented by McLaren Construction Limited.

In a statement, the Cosu consortium said: "Both the transfer of the Roots Hall [the club's ground] freehold to Cosu, and the payments expected to help finance the regeneration of the stadium, fall outside Ron Martin's personal bankruptcy, as those matters relate to separate entities and arrangements."

The deal to transfer ownership of the club from Martin to Cosu in 2024 took months to hammer out because of issues surrounding housing development plans relating to Fossetts Farm, a site where Martin had previously hoped to relocate The Shrimpers.

In December 2024, Southend-on-Sea City Council agreed that 805 homes could be built at the site, which would ultimately release between £10m and 12m for the football club to regenerate its historic Roots Hall stadium.

The BBC has approached the council for comment.

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