A consortium led by Australian businessman Justin Rees has agreed a takeover of troubled fifth tier English soccer club Southend United.
Rees, a former student at the University of Technology Sydney, is effectively rescuing the club from being liquidated due to unpaid debts. Owed to the British tax authorities and others, they total at least £1.3 million ($A2.5 million).
Tuesday's deal comes a day before the club is due in the High Court to face a winding-up petition. It would be their 18th winding-up petition since 2009.