Cliff Notes – Morecambe say agreement in principle reached for sale
- Morecambe FC has reached an agreement in principle for the sale of majority shareholding to Panjab Warriors, amid ongoing financial difficulties and National League suspension.
- The Bond Group, the current owners, expressed gratitude to staff for their patience and are preparing final legal documentation for the transfer.
- The club aims for this agreement to ensure stability and a positive future, following political attention from figures like Prime Minister Sir Keir Starmer regarding their financial crisis.
Morecambe say agreement in principle reached for sale
An agreement in principle has been reached for the sale of Morecambe to new owners, the club have announced.
The club are currently suspended by the National League over their financial issues and at risk of closure, but a statement was published on the club’s website on Thursday afternoon announcing a deal was now in place for the transfer of majority shareholding to Panjab Warriors from the Bond Group.
Morecambe have been at risk of closure due to a deepening financial crisis
Bond Group said in a statement: “We would like to thank all of the staff at the club for their forbearance and can only apologise for the stress this has caused.”
The club said final legal documentation was now being prepared, and that “immediate steps” were being taken to inform key stakeholders, including the National League.
The club said they hoped the agreement “paves the way for continued stability and a positive future both on and off the pitch”.
There have been fears Morecambe could follow the same path as Bury, who were expelled from the EFL in 2019 over their financial issues.
The club’s plight has drawn political attention, with Prime Minister Sir Keir Starmer expressing his concern last week and urging everyone involved to “do the right thing.”
That followed Culture Secretary Lisa Nandy writing to Morecambe owner Jason Whittingham calling on him to sell up.
