"Final legal documentation will now be prepared": Joint statement claims Morecambe takeover agreement has been reached
Morecambe FC has published a statement which claims that an agreement has been ‘reached in principle’ for Panjab Warriors to complete a takeover of the club.
A joint statement was published on the Shrimps’ website on Thursday afternoon, six days before the National League’s compliance and licensing committee meets to discuss the club’s suspension from the competition.
Nevertheless, it comes nearly six weeks after a statement on July 4, which said a sale to Panjab Warriors was intended for completion three days later – but which didn’t happen.
This latest claim comes with club staff still awaiting two-thirds of June’s wages – and all of July’s – while owner and would-be buyer have issued claim and counter-claim within the last week over any proposed buyout.
The club statement read: “Panjab Warriors and Bond Group Investments Ltd are pleased to announce that an agreement has been reached in principle for the transfer of majority shareholding in Morecambe Football Club Ltd.
“Following constructive discussions and a shared commitment to securing the future of the club, both parties have agreed to a structured settlement that ensures a smooth and fair transition.
“This agreement reflects the willingness of both sides to compromise in the best interests of Morecambe FC, its supporters, and the wider community.
“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.
“Both Panjab Warriors and Bond Group would like to thank all parties involved for their patience and support during this process, and we look forward to a new chapter in the club’s history.”
Bond Group added: “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.
“In particular I would like to thank Rob (Smith, general manager), Derek (Adams first-team manager), Oliver (Wilson-Fish, head of finance) and Martin (Thomas, head of commercial) for their continued professional conduct and support throughout this process and also their support for the staff and the community.
“I would hope that the Shrimps fans can now give their full support to the club and its journey ahead.”
The Shrimps Trust fans' group subsequently posted an update in which it said it understood ‘a constructive meeting’ had taken place between Bond Group and Panjab Warriors.
Writing on X, it added: “We understand that formal negotiations have now concluded and 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. 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.”