Morecambe FC crisis: Owner announces last-minute new buyer of club

The owner of Morecambe Football Club says a new deal to sell the club will be signed with a last-minute buyer - throwing the Shrimps' future into further doubt.

Jason Whittingham of Bond Group Investments said on Wednesday that "agreements will be signed this evening".

The announcement of the un-named new buyer comes just days after Mr Whittingham said he'd agreed final terms with Panjab Warriors to sell the club to them.

He then said they intended to complete the deal on Monday. This date passed without the sale being finalised.

On Monday, Mr Whittingham then said extra time was needed for "final items to get signed off" and completion was likely on Tuesday.

Tuesday then came and went without any further announcement.

In the meantime, pressure mounted on Bond Group to sign over the club to Panjab Warriors, who said "everything was ready" for them to take charge.

Lizzi Collinge, MP for Morecambe and Lunesdale, Lisa Nandy, Secretary of State for Culture, Media and Sport, the Shrimps Trust supporters group and many other fans have all called on Mr Whittingham to ink the final deal.

On Monday, the Shrimps board of directors also resigned for a second time in a week, saying they would be on standby to return - if invited by the owner - to help push the sale through.

But on Wednesday, Mr Whittingham (below) said: "Bond Group are pleased to announce that agreements will be signed this evening in relation to the sale of Morecambe FC.

"This buyer will make their own statement shortly to introduce themselves and set out their plans for the club over the coming seasons.

"Further announcements to follow tomorrow."

The Shrimps Trust supporters group said: 

"Following today’s statement from Bond Group, we can confirm to members that the National League have not been made aware of an alternate buyer.

"The trust will provide a substantive update when we have a clearer understanding of matters."

In June, and after a process of many months, Panjab Warriors passed several stringent tests by the English Football League, before the EFL would approve their planned takeover of the Shrimps.

Any new buyer would need to be approved by the National League. Morecambe were relegated to this league at the end of last season.

On Tuesday, Panjab Warriors - headed by Kuljeet Singh Momi - accused Mr Whittingham of tactics to "stall progress and evade responsibility".

They also said they have sunk £1.7m into the club in working capital, in addition to the £3.8m purchase price.

In the meantime, Morecambe FC staff have not been paid their full salaries for June, with money now outstanding for almost two weeks.

Panjab Warriors said the outstanding amount in wages was £131,000, overdue since June 27, and that the club also had to settle an imminent VAT bill of £45,000 or face a possible transfer embargo and administration.

Amid the chaos behind-the-scenes, the Shrimps first team played their first pre-season friendly on Tuesday, winning 2-1 at Longridge.

The National League fixtures for the new football season were also released on Wednesday, with Morecambe due to begin their return campaign in non-league football away at Boston United on Saturday August 9.

More to come...

MORECAMBE FC CRISIS: TIMELINE OF EVENTS SO FAR

Friday June 27: The Morecambe FC board of directors reveal that the planned sale of the club to Panjab Warriors is on the brink of collapse, just weeks after the prospective new owners gained clearance from the English Football League (EFL) to proceed with a takeover. The board said owners Bond Group Investments were "considering reneging on the deal". Players and staff at the club were due to be paid their monthly salaries, but hadn't received the money from the owners.

Tuesday July 1: The board gives Bond Group an ultimatum, sell to Panjab Warriors or the club faces being put into administration. By this point, staff have been paid around a third of their wages.

Wednesday July 2: Jason Whittingham denies "stalling" over the deal, says he still intends to sell but that "any transfer of shares (has to be) done in a way that holds no recourse for either the club or Bond Group". He says he intends to "resolve the matter of staff salaries" and wants to "avoid administration at all costs". As such, he says he has begun the process of dismissing the board. All five board members - co-chairmen Rod Taylor and Graham Howse, and James Wakefield, Charles Appleyard and Mick Horton - are terminated as directors at Companies House, although minutes of a Shrimps Trust meeting reveals all five had resigned before this.

Thursday July 3: Lizzi Collinge, MP for Morecambe and Lunesdale (below), says in Parliament that the club is "in crisis". Both she and Lisa Nandy, Secretary of State for Culture, Media and Sport, call on Bond Group to complete the sale. In a further statement, Jason Whittingham says "work continues to complete the sale process and give Morecambe Football Club the fresh start the club and its community deserve". Sponsors Bay Camera and Communications Ltd say they will stop sponsoring the club until it is sold.

Friday July 4: Mr Whittingham says the long-awaited sale will complete on Monday July 7 and that final terms have been agreed with Panjab Warriors. The board of directors, he said, have been invited back to "support the final stages of the sale process". The five directors are then reappointed. The Shrimps Trust said they had spoken to Kuljeet Singh Momi of Panjab Warriors, who confirmed an agreement had been reached. But, said the trust: "If a deal is indeed agreed, we do not understand why it needs the weekend to complete."

Monday July 7: Mr Whittingham says the sale will not complete on Monday as extra time is needed for "final items" to be signed off and "it’s likely we will need tomorrow to complete the sale.’’ In response, the board of directors resign again. Mr Whittingham also says there has been "a campaign of abuse" against him and his family on social media and this has "put off at least two potential buyers" of the football club.

Tuesday July 8: Panjab Warriors say everything is ready for them to take charge and accuse Mr Whittingham of holding the club hostage. As the new Football Governance Bill passes through the Commons, Lizzi Collinge calls on the Morecambe FC owner to "sign the damn paperwork". The club has been up for sale since September 2022.

Read more about the ongoing crisis at Morecambe FC at these links:

Businesses rally round to help Morecambe FC staff as wages remain unpaid - Beyond Radio

Morecambe FC owners-in-waiting say club is "being held hostage" over delayed sale - Beyond Radio

UPDATED: Morecambe FC takeover deal still not done as board resign for second time - Beyond Radio

Morecambe FC owner says social media ‘campaign of abuse’ has put off potential buyers of club

Morecambe FC owners say sale of club will complete on Monday

Morecambe FC crisis: Devastated Shrimps fan withdraws sponsorship until club is sold

Morecambe FC owner says "work continues to complete the sale process" 

‘Crisis point’ - Morecambe FC owner sacks board of directors as administration row rumbles on

Administration threat as Morecambe FC owner given sale ultimatum

'Where is the money?' Morecambe FC sale on brink of collapse after wages delay