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Southend United rejects consortium bid

By Pete Hayman    04 Nov 2009

Southend United Football Club (SUFC) has confirmed that it has rejected a takeover offer from a consortium of unnamed investors, despite facing the prospect of administration.

The Coca-Cola Football League One club revealed that it had received a bid through a local solicitor on 2 November, but the board has decided to focus on other alternatives to securing SUFC's long-term future. In a statement, a spokesperson for the club said: "After an exchange of correspondence it became clear that such a transaction could not be structured in the time available. In any event our information is that the proposed structure would still result in a 10 point deduction.

"The board's advice to its major shareholder was that the resources of the club continue to be focused 100 per cent on the other alternatives already being pursued." SUFC is set to be put into administration by HM Revenue and Customs (HMRC) after failing to settle an unpaid tax bill, which the club said was due to the collapse of the banking sector in 2008 and delays to plans for a new stadium.

Meanwhile, Accrington Stanley Football Club (ASFC) has confirmed that it has now paid the full £308,000 owed to HMRC after being given a stay of execution by the High Court. The club has appointed a new board of directors to ensure the long-term future of the club, which currently competes in Coca-Cola Football League Two.

Scarborough Athletic Football Club (SAFC), which was formed following the demise of Scarborough Football Club (SFC) in 2007, has launched a new campaign in a bid to move back to the town. The club, which competes in the Northern Counties East League Premier Division, has played its home games at Bridlington Town Football Club's Queensgate Stadium for the past two years.

However, SAFC is looking to raise funds to help finance a move back to Scarborough, where the local authority is investigating the possibility of a new sports complex to replace SFC's former McCain Stadium. Elsewhere, Histon Football Club (HFC) of the Blue Square Premier has appointed Tony Roach as its new chair after previous incumbent Gareth Baldwin resigned due to ill-health.

A HFC spokesperson said: "Tony's major responsibility as chair of the club is to secure the financial stability of HFC and to help do this in part, the club is actively seeking new investors and sponsors."

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