Southend United FC, nicknamed the Blues, are working with concepts for their project to create a new stadium at Fossetts Farm, following the recent news that they’ll be cleared of their debt.
The club’s parent companies, Martin Dawn PLC and South Eastern Leisure Ltd. have loaned £17 million for the development of a new stadium. Recently, as part of the club’s January audit, Martin Dawn PLC has opted not to waive the £6.87 million debt by the club, while South Eastern Leisure will write off the £10 million the Blues owe them when the FC finally change English football stadiums into a new base.
Mr. Martin reiterated at the AGM and fans that it’s paramount that the Blue remain debt free when it moves to a new stadium. He stated that there’s little doubt about the necessity of the FC moving to a new base of operations, which will allow the club to become more sustainable, as well as more financially independent.
He believes that the new stadium will give the club new revenue streams that’ll make it more than just competitive; he believes it’ll put the Blues in the upper echelons of the Football League.
The Fossets Farm development recently had new artist concepts released, showing an IMAX cinema as part of the development plans.
Martin was asked on the matter, and he’s pointed that, for the most part, the rear of English football stadiums tend to be ignored, and the FC have considered about how stadiums connect to nearby leisure developments.
This has led to the FC deciding that their new, state-of-the-art stadium could use some commercial developments alongside it in order to help fund the construction and give visitors to the stadium something to keep them occupied beyond the games.
On top of all of that, there will also be a residential project, resulting in the property being a mixed use. Martin believes that this will provide greater activity and interest on the property, giving them a chance to see into the seating bowl.
Southend United is still waiting for the approval of the planning committee before the project goes underway. Reportedly, hundreds of signed letter from fans were sent, stating support for the development.