According to Anglia television teletext Vic Jobson has finally resigned and John Main has taken over as chairman of the club. Blues' new owners, Martin Dawn PLC, have further funds to strengthen the playing squad.
This news brings to an end months of uncertainty when it appeared that Vic, who practically rebuilt the club after a disastrous time under the ownership of Anton Johnson, was unlikely to go without a substantial amount of money heading his way.
31st JulyWe brought this news to you about a month ago but today The Times caught up with this piece of news:
As we reported on 2nd July, a bit of digging by our man at HM Treasury has revealed that Martin Dawn is heavily financially-backed by a company called Blunglen which is a subsidiary of Delancey Estates PLC.
The FT reported that a consortium led by George Soros was in the process of taking control of Delancey Estates. This has now been completed and Mr. Soros's group now controls around 70% of Delancey's shares.
The Times reports that:
The deal is seen as a prelude to a more ambitious plan which would see Southend's stadium... redeveloped for housing or retailing and the club moved to a new stadium on a less valuable site. The ground is in Southend's books at just £4.5 million but is said to be worth much more.(Whether or not Mr. Soros is aware of his involvement with the club is a different question entirely.)
2nd JulyThe SUISC had a meeting with John Main during which time
every rumour under the sunwas put to him and every one was convincingly refuted.
Mr. Main is in favour of the Junior Blues and supporter representation on the board. We do have major backers but, as they are involved in
Martin Dawn plc take over
13th - 28th MaySouthend have been taken over by Martin Dawn plc after talks with Vic Jobson according to BBC Essex. John Main is our new chairman. Adams is the new Director of Football Development.
Mr. Main grew up in the East End of London and is a West Ham supporter. He says he is a
John Main has said that he is aware of a certain amount of friction between SUFC and the fans, SUFC and the council, SUFC and everyone really... Mr. Main intends to do something about this.
Mr. Main has said that anyone can ring him at the club and he will get back to them. This sounds very positive but obviously shouldn't be seen as an opportunity to let off steam every time we lose.
The company is based at:
Crescent House,According to their last accounts, posted on 31st March 1997, they made both pre- and post-tax profits of just over £500 000 which suggests that they either have smart accountants or
51, High Street,
Tel: 01277 633888
retained losses of £750 000 from the previous year. (No, I don't understand that last bit myself, I'm just quoting.)
That previous year gave a trading loss of £731 000 but it would appear that it was an exceptionally bad one and that otherwise the company has been doing alright for itself.
It should be noted that Vic Jobson lives next door to the major shareholder in Martin Dawn plc. (Ron Martin, 90% shares). This could just mean that Vic speaks to his neighbours (which is a good thing).
6th MayVic Jobson was quoted in the
Evening Echothis week as saying
There's no way I am disposing of my majority shareholding in Southend United.
Instead of a takeover there will be a
I'm arranging the re-financing of the club, so it will be in a much better financial position for the future. I'm bringing in other people to assist in this operation and the shares are being retained in a holding company.
Mr. Jobson admitted that he has some sympathy with the fans who demonstrated after the end-of-season defeat at home to Wrexham and said that they are right to be frustrated because
We need to play a system which brings out our strengths rather than our weaknesses.
He continued by saying that the players are not as bad as some may think and the team needs simply to play a different system. Vic suggested that the directors would now take up the challenge of taking the club forward again.
Elsewhere, it has been rumoured that a new stadium could be built on the Southend Rugby Club ground at Warners Park. This could provide a 20 000-seater stadium to coincide with a new railway station for the airport.
The Evening Echo (on 17th April) received no comment when they asked Mr. Jobson and
Any new stadium would of course leave Roots Hall free for development and in the past greyhound racing has been mooted as a possibility. It is believed that Southend Council would like any new stadium to be linked to a major commercial development, such as shops or a cinema, to pay its way.
It must be stressed that much of the information on this page is rumour and conjecture. We could be entirely wrong and find that the Sultan of Brunei wants to buy the club instead and pump his billions in.
Or maybe not...
© Luke Bosman Monday, 23 April 2007 at 21:09:44
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