UNDERFIRE Southend United chairman Ron Martin tonight claimed his intention is not to make money from selling the club.

The Shrimpers are sweating on their place in the National League next season after being given an additional 42 days to pay off a tax bill of £275,000.

But, in a club statement issued this evening, Martin said he would sell Blues for just £1.

“For complete transparency following my statement in March, my intention has never been to make money out of the sale of Southend United,” said Martin.

“In addition, I have no intention of seeking the return of my substantial investment in the club over the last 25 years.

“The terms for the sale of the club are: Share purchase 70.6% for £1. Three years rent free at Roots Hall unless the club gets promoted in which case, we would charge 50 per cent of the rent under the lease.”

The Kimura Group remain in talks to buy the Shrimpers.

But Martin stressed the process could not be rushed.

“The sale of Southend United simply can’t be accelerated, due diligence must be undertaken and the Owner and Directors Test must be completed by the purchaser,” he added.

"I announced my decision to sell the club on March 17th, and what I said then remains unchanged - I want to find a buyer to take our club forward and maximise its potential.

“If I had the choice to continually update our fanbase on sale negotiations, then in most circumstances I would.

“I’ve long appreciated running a football club is not like any other business, there’s a community to answer to as well as many others.

“However, the nature of selling an asset such as a football club means details cannot be shared.

“I have never hidden from talking to fans, as I hope many would testify if they approached me, however unfortunately it is not possible to share confidential details of any possible deal.

“This silence naturally leads to rumours.”

But Martin is keen to close the deal as soon as possible and continues to hold talks with the National League who will now play a huge part in deciding the club's future.

“There has been much discussion on social media regarding the front runner to purchase the club,” said Martin.

“I have done everything in my power to close the deal quickly and I confirm that I remain motivated to continue at pace.

“I remain in discussions with the National League regarding the sale of the club, but the adjournment today provides the opportunity to continue what I started on March 17th.

“I look forward to passing the baton on and watching the club succeed to its rightful position in the Football League.”