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Southend rebuild 'going to plan' despite expected £2m loss

Southend United chairman Justin ReesBBC Essex Sport

Justin Rees was the co-founder of Sydney-based company Eighty20 Solutions

Southend United expect losses of about £2m in the current financial year despite last summer's takeover by a consortium headed by Australian Justin Rees.

COSU (Custodians Of Southend United) bought the National League club from previous owner Ron Martin following years of financial turmoil at Roots Hall.

The consortium originally comprised 10 individuals, but they have since added US-based technology entrepreneur Shivaas Gulati, and are open to further expansion in of people with a stake in the club.

"No matter how many owners we have, we'll always have a max of six or seven people on the board, because if you had 20, 30, 40 that would be a bit unruly," Rees told BBC Essex.

"There is space for more people who share our vision and share the values. It's not for the fainthearted financially, not everyone would be up for it, but we've added Shivaas, and if the right person came along and wanted to the team and share the load, why not">