Southend United chairman John Main has demanded financial assurances from the cash-strapped Third Division club's two main benefactors, property developers Delancey and Martin Dawn.

The news came on Monday as Blues faced a winding up order from the Inland Revenue for a £400,000 debt, which will be heard at the Royal Courts of Justice on Wednesday, July 26.

The Shrimpers' major shareholder Ron Martin recently revealed ambitious plans for a £46 million leisure park at the town's Fossetts Farm site, which would include a new 16,000 capacity stadium for the Seasiders.

But the project, if passed, is not due for completion until 2004 and Main is seeking funding pledges from the Southend's backers, who have already pumped some £7m into the Roots Hall club.

Now, the Blues supremo wants Delancey, expected financers of the new ground, to guarantee the Shrimpers further collateral so they can stay afloat.

But it would seem that the London-based property giants are unwilling to part with any more of their cash, leaving Southend to struggle against a seven-figure deficit.

"When we first took over at Roots Hall we decided that our first aim was to save the football club," added Main.

"The deal was that Delancey would finance the club, Martin Dawn would look after the property side of things and I would be chairman.

"In all fairness Delancey did save the club, but they seem to have forgotten about our long term survival. In fact, they are leaving us dangling in the water during what is a very critical time.

"It's not the club's fault that a hiccup on the property side acquiring the Fossetts Farm site has made our situation worse, the plans should have been submitted and passed by now.

"But as the days, weeks and months pass by without a concrete planning agreement our financial problems also continue to increase.

"We can't afford to be left on the back-burner while the planning troubles are resolved - this football club is reaching breaking point.

"To make things even worse we've just been hit by a £400,000 bill from the Inland Revenue, which quite frankly could be enough to finish us off.

"I need the football club's future guaranteed, which means a firm pledge to keep us bankrolled until 2004, which is the estimated completion time of the new stadium.

"After all, if the club dies, it is very unlikely that there will be a leisure park at all, which I think Delancey need to remember."

However, the physically drained Main reported that Blues' monthly losses have dropped from £125,000 to around the £60,000 mark.

"This summer has been one hard slog so far and I'm absolutely exhausted, but I'm desperate to turn things round," he added.

"Things are improving on the financial side of the club, but we're not strong enough to fend for ourselves just yet as we've still got creditors and other liabilities to pay off."

However, the Roots Hall chairman admitted that a successful planning application was the only way out of the financial wilderness for the penniless Seasiders.

"At present Southend United have no assets whatsoever, but as soon as the proposed stadium is given the green light we have something bankable on our hands again," he said.

"The property enhancements we receive as part of the move to Fossetts Farm would end the need to borrow money from Delancey at a very high interest rate to survive. We could stand on our own two feet again.

"This club currently has no bank. Sure, Lloyds give us the facility to cash and pay cheques, but we have no loan facilities, Delancey are our bankers.

"However, a passed plan would change the whole scenario as we would be able to bank the club again on the value of the enhancements.

"But we are still in the very early stages of the planning process, which isn't helping the club's present financial predicament at all."

By Bernie Friend

Reporter's e-mail: bernie.friend@notes.newsquest.co.uk

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