Terms agreed on delayed Morecambe takeover

Terms person been agreed connected nan prolonged takeover of Morecambe by Panjab Warriors, existent Shrimps proprietor Jason Whittingham has said.

A turbulent week astatine nan National League broadside saw nan committee frighten to spot Morecambe into management if Whittingham did not complete nan waste of nan nine connected Tuesday.

Whittingham subsequently sought to region nan committee nan pursuing day.

However, nan woody betwixt Whittingham's Bond Group Investments and Panjab Warriors has now been made and is group to beryllium formally completed connected Monday, 7 July.

The Shrimps were relegated from League Two past play aft 18 years successful nan English Football League (EFL).

In a statement connected nan nine website, external Whittingham said he had invited nan "former directors" backmost to nan committee to "oversee nan last stages of nan waste process".

Morecambe's MP Lizzi Collinge said connected Monday that Bond Group should "get connected with" nan woody to waste nan 105-year-old club.

On Tuesday, nan board initially released a connection saying they would springiness Whittingham until 16:00 BST to waste his shares, earlier allowing an other 2 hours aft "new accusation came to light".

This 2nd deadline passed without nan waste going done and successful a 3rd connection of nan day, nan committee said that they would beryllium contacting administrators "at nan earliest opportunity", connected Wednesday.

Whittingham past released a connection of his own, external connected Wednesday saying he had "started nan process to disregard nan committee of board pinch contiguous effect successful bid that we tin return power complete nan situation", while denying claims he was stalling connected nan deal.

Whittingham, who oversaw nan takeover of nan nine successful 2018, previously told BBC Radio Lancashire that he "could not hold to get out" of nan past League Two nine successful an question and reply successful January.

Since past nan club, which reached League One successful 2021, person been relegated from nan EFL, meaning they will play successful nan National League adjacent play for nan first clip since 2007.

The woody to waste nan nine to Panjab Warriors was approved by nan EFL earlier successful June.

Panjab Warriors said past week they had already paid £3.8m to Bond Group, alongside a abstracted costs of £630,000 to clear outstanding loans against nan club.

The group claimed they had besides loaned a further £1.7m to nan nine complete nan past 14 months to "ensure its ongoing survival".