New stadium company set up

9 Dec

Fossetts Farm

Plans for the new stadium

The Southend Echo is reporting today that new chief executive Tara Brady has invested £200k in a new stadium company that looks to have been set up to manage Fossetts Farm.
Soccer Stadium Ltd has been set up and £2million of shares invested, with the other £1.8million believed to be coming from South Eastern Leisure, the major shareholder in Southend United.
The news will come as a boost to fans who have seen little progress on the proposed 22,000 seater stadium in recent months, and even years.
However, supporters will want to know more about the new company, especially the rent it is to charge to the club – a sum which Ron Martin has always maintained will be minimal or non-existant.
All At Sea’s resident season-ticket holder solicitor, unnamed to protect his company interests, said the news was unlikely to spell progress. He said: “My guess would be this is more to do with the appointment of Tara Brady than any significant progress on the stadium. He could have been offered the shares as an incentive or even in place of proper remuneration.”


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