AFTER months of construction work and with construction of a new stand recently having breached the skyline, the backers of Tilbury FC's new stadium have pulled out of the project – citing unsustainable losses.

The decision – reached in conjunction with the Isthmian Football League club's directors – was announced in a joint statement with Apex Platinum investments today (Friday, 21 March).

It reads: "It is with deep regret the Directors and Shareholders of Apex Platinum investments Limited (APIL) have made the difficult decision to cease work on the construction of the new Tilbury Football Club (TFC) Stadium.

"Despite our unwavering commitment to this project, unforeseen economic challenges including rising construction costs, supply chain disruptions and broader financial pressures, have made it impossible for us to continue.

"After careful consideration and having taken legal advice, the Directors mindful of their director duties have reluctantly decided that continuing under these circumstances is no longer feasible.

"The financial burden has resulted in substantial losses for APIL and after thorough assessment, we have concluded that the most responsible course of action is to step away from the project to ensure financial stability and compliance with our obligations.

"However, our dedication to Tilbury Football Club and the local community remains steadfast. As a gesture of goodwill , we have gifted all the work completed to date, including materials, planning work and all other contributions made on behalf of TFC.

"This will allow a new partner to take over and complete the project with a significant portion of the cost already covered by APIL. We sincerely hope that this will provide the Directors of Tilbury Football Club the head start needed to complete the project.

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"We remain incredibly proud of the progress that has been made, and we take comfort knowing our contributions will serve as a foundation for the stadiums eventual completion.

How the new stand will look when completed.

"It was always our vision to create a facility that would benefit the club and wider community, and while we regret that we cannot see it through to the end, we know that Tilbury Football Club will complete this mission.

"We would like to express our deepest gratitude to the Directors of Tilbury Football Club who despite their understandable disappointment, have shown great understanding and support throughout this difficult decision.

"Their unwavering commitment to the club, its supporters and wider community has been truly admirable. We want to assure everyone that we will continue to assist in the transition to a new developer, ensuring a smooth handover and providing support where possible.

"We also extend our heartfelt appreciation to the fans, local residence, contractors, employees and all those that have been part of this journey. Your dedication, passion and hard work have been invaluable and we are grateful for the opportunity to have worked alongside you in pursuit of this shared goal.

"While this is not the outcome we had hoped for, we remain optimistic that with continued support and determination the new stadium will soon become a reality serving as a lasting legacy for TFC and its community.

"The Directors of Tilbury football club would like to give assurances to everyone involved with the Football Club, that it is our full intention to complete the project we initially started roughly six years ago.

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How the new homes and North Field ground are planned to be configured.

"Although this is a very hard situation we find ourself in we can look positively on the fact we have been gifted a portion of the project and see this more as a bump in the road on our way to completion of this project.

"We hope to be in a position in the coming weeks to advise of a more positive message as we embark on our quest to source a new developer for our current Chadfields site enabling us accessibility to funds that would allow completion of the project.

"As always we really appreciate your support and understanding."

The road to a new ground has been a long and often fraught one for Dockers.

Plans were first mooted to leave the current Chadfields ground and move on to the adjacent North Field at the turn of the millennium.

Potential backers and options came and went but 2021 brought planning permission for the new ground and 112 new homes on the current stadium site. It then took two years to get a development deal completed, with the support of Apex and work began in 2023.