SOUTHEND UNITED have confirmed they have come to an agreement over a takeover and have given fans the date that it's expected to be completed by.
The National League club have released a statement confirming they have reached an agreement for the sale of the club with a consortium led by Australian Justin Rees.
They also revealed that the club are currently working towards completing the takeover by November 1.
And their HMRC winding up petition has also been dismissed.
In a statement on their website, the club wrote: "We can confirm that an agreement for the sale of the Club has been reached with a consortium led by Justin Rees.
Darlington ace Paddy Almond rushed to hospital due to bleed on the brain
"Everyone is working towards a completion date of 1 November 2023, that is when the consortium will formally take control of the Club.
"The collaborative approach to agreeing this deal would not have been possible without the support of creditors and the assistance from the Leader of Southend City Council.
"We recognise that this has been a stressful time for all associated with the Club. We would like to thank our staff for their incredible loyalty and also thank all our stakeholders for their patience."
Another statement added: "Earlier today the Court dismissed the winding up petition presented by HMRC. We are grateful to our creditors for the patience and support."
The news comes after a lengthy spell of uncertainty surrounding The Shrimpers and their future after they faced picking up £275,000 worth of HMRC debt.
FREE BETS - BEST BETTING OFFERS AND BONUSES NEW CUSTOMERS
But the debt has since been "paid in full".
Fans have previously protested against current chairman Ron Martin by throwing tennis balls on the pitch after receiving a ten-point deduction earlier in the season.
But Shrimpers have now been left delighted by the news of the takeover and as a result saw the club website crash after flooding to the page to read the statement.
Inside Southend's chaos: Wage struggles, transfer bans and players leaving
Supporters will be hoping that stability off the pitch can fix things on it with the side currently sat second from bottom in the National League.
Kavin Maher's men face Oxford City tonight as they look to claw themselves out of the relegation zone.
