YT understands that a mystery Malaysian businessman has bought The Pegasus Club in Corringham.
The club and its grounds is rich in history and tradition. It was owned by Petroplus, who went into administration in 2012.
A number of organisations have bid for the property including East Thurrock United but seem to have been frustrated at every turn.
Sources close to YT have told us that the Malaysian businessman has put in a number of bids and this time they have been successful.
A spokesperson for The Pegasus said: “The Club is in the process of being bought by a Malaysian businessman.
At this moment we have no idea of his intent for the Peg. Our lease expires on May 31st. We are fulfilling our engagements to the end of April. We are holding a farewell weekend over Mayday Bank Holiday.