Football

Martin: No financial crisis

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Southend chairman Ron Martin has re-assured the club's supporters that they will not have a problem paying a tax bill due in October.

Martin, who wants the Shrimpers to move into a new stadium by July 2011, said the club have to come up with £660,000 by the end of next month. But the chairman has told fans that finances are under control.

"There's not a financial crisis, we are in a transitional stage moving Southend United from Roots Hall," he told BBC Essex.

"If we wanted to stay at Roots Hall we could manage the finances very successfully but we wouldn't progress."

He added: "In the Championship the club broke even, coming out of the Championship because of the loss of TV monies and other corporate income our losses were over £2million.

"We'll only repair that funding gap when we get into the new stadium, so this is an intended and managed situation as we move and progress the club."

Meanwhile, Southend have appointed Nigel Brunning as finance director of the club.

After working for the club for the past eight months, Brunning has officially joined the Shrimpers board on a permanent basis.

Martin said of his appointment: "I have no doubt that Nigel will prove to be a most influential member within the management team whose skill set will be invaluable in assisting the club's growth."

Copyright (c) PA Sport 2009, All Rights Reserved.

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Topics:
Football
Championship
League One
Southend United

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