SOUTHEND United had an operating loss of £2.458 million in the year ending 31 July 2023.

The figure was revealed in the end of year accounts which were filed today.

The loss for the year was £2.749million but the reports state the club have been able to continue to due to group funding which has increased from £16.1 million to £18.7million during the year under review.

And the report also hints at work which could be done to Roots Hall should the consortium complete their takeover of the club.

It said: “Roots Hall stadium was built in 1955 and the age and method of construction of the stadium means that costly maintenance is required in order to obtain a safety certificate.

“This position is unsustainable and consequently the stadium is in need to substantial redevelopment.

“The East Stand needs replacing in its entirety and the other stands will require refurbishment.

“In March 23 South Eastern Leisure Limited announced its intention to sell its shareholding in the club.

“Ultimately a deal was struck with COSU FC Limited and contracts were exchanged on 23/12/2023.

“At the time of writing the sale of the club has not completed but when it does it will result in investment into the infrastructure.

“In time, as part of the deal, Ron Martin through companies in his control will provide £20million to assist in the redevelopment of Roots Hall.”

And that will see several improvements being made.

The report added: “The focus will be on Roots Hall, particularly the East Stand.

“The plan is to create a commercial hub which may include a substantial conference and banqueting business ,office space and other event space.

“It is likely that the kiosks and toilets at the rear of the West Stand will be replaced too.

“The South, the newest stand, requires some attention and, in time, it is likely the North will be replaced in its entirety too."

The accounts also revealed revenue was down 13 per cent to £2.9million while wages were down two per cent to £2.9million.

Player signings totalled £72,000.