As confirmed in an official statement yesterday Southend United's board of directors decided to turn down a bid for the club by a group of local businessmen.
Alan Gershlick, the solicitor acting on behalf of the mysterious consortium of ten, revealed they would put in another offer, but to the administrator who will be called in if the board cannot pay the taxman in the High Court today.
Gershlick told the Echo: "We hope Ron Martin does have the money but if he doesn't then we will definitely be making another offer to the administrator. It's a great shame that we haven't been able to resolve this but I've had no formal response from the club and it was actually the Echo who told me the news."
The consortium is meant to be a number of Southend's most successful businessmen worth millons between them.
They insist they are all supporters of the team and made an offer of one pound to buy the club eventually wiping out all outstanding debts.
For the full story on the Board deciding to go on alone, go here:
www.southendunited-mad.co.uk/news/loadnews.asp?cid=TMNW&id=471104