AN update from the consortium buying Southend United.

'On Tuesday evening it was announced that we had agreed terms with Ron Martin to acquire his shares in Southend United and become the new custodians of the club.

'The deal includes the purchase of Roots Hall and the new training ground at Fossetts.

'As reported, this is subject to due diligence which is under way and targeted to complete by the end of October.

'Our full focus is on completing this important step promptly so that we can lift the transfer embargo as soon as possible.

'We appreciate there are many questions relating to the new ownership group and our plans for the future.

'We look forward to actively engaging with staff, fans and media to answer all these questions in due course, once the transition has formally completed.'

WHO MAKES UP THE CONSORTIUM?

David Kreyling and Tom Arnold are the Founders of CSL Group which drives ‘Sport for Social Change’.

Passionate about how sport and physical activity can change lives, they have grass roots involvement in Southend football and other sporting projects.

Jason Brown is a Hong Kong based hedge fund manager who grew up in the Southend area and has been a lifelong supporter of the club.

John Watson is the owner of packaging and taxi businesses in Southend and a Southend United season ticket holder for the past 40 years.

Gary Lockett is a Life-long Southend United fan, chairman of the Southend United Community & Educational Trust (SUCET) and Shrimpers Trust member.

Justin Rees co-founded and sold an IT consultancy in Australia but is currently based in Europe. Made his SUFC spectator debut at Blues' 2-0 away win against Dagenham earlier this season

Echosport understands the consortium regard boss Kevin Maher, head of recruitment John Still and chief executive Tom Lawrence very highly and will not be looking to make changes.

There will be no single majority shareholder but a new board of directors will be formed.