Agreement reached for takeover of troubled Morecambe

A new takeover deal has been agreed between Morecambe owners Bond Group and prospective buyers Panjab Warriors in a bid to save the beleaguered National League club.

The Shrimps are currently suspended from the league and had their first three games postponed because of concerns about the club’s ability to meet their financial obligations.

Panjab Warriors have previously had their takeover approved by the EFL in June, following the club’s relegation from League Two, but a chaotic summer has followed.

That has included Culture Secretary Lisa Nandy writing to owner Jason Whittingham urging him to sell the Shrimps, while Prime Minister Sir Keir Starmer urged everyone involved with the club “to do the right thing”.

“It paves the way for continued stability and a positive future both on and off the pitch.

“Final legal documentation will now be prepared, with immediate steps being taken to inform key stakeholders, including the National League and the club’s management team.

Supporters’ group, the Shrimps Trust, said they understood “that sale and purchase agreements are in the process of being documented for submission to the National League”.

“This represents a significant step forward in the process,” the group said in a statement.

“While we remain cautious until the necessary approvals have been confirmed, all parties have verified this information with us, giving us some assurance that a resolution is in sight.”

Thursday’s announcement comes after the two parties agreed to a mediation session this week, after an initial session failed to take place.

Panjab Warriors, who have been trying to take over Morecambe for more than a year, were joined in a separate bid by businessman Jonny Cato in trying to mount a takeover.

Morecambe closed operations in late July, shortly after their suspension from the National League.

It is unclear from Thursday’s statement when Panjab Warriors’ takeover will be finalised, however.

“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,” added the Bond Group.