The co-chairman of Morecambe FC has confirmed that businessman Sarbjot Johal is in the process of buying the club.
Graham Howse, in a statement to fans on Thursday, said that Mr Johal has bought equity in the club and will become owner subject to passing English Football League checks.
Mr Howse (pictured below) said: "It is fair to say the sale process hasn’t progressed as quickly as we all would have liked - that said, my understanding is that exciting times are ahead both on and off the pitch.
"Sarbjot Johal is eager to start the project to take the club on to a new level, subject to satisfactorily navigating the EFL Owners and Directors’ test.
"Sarbjot, through his company Sarb Capital, has recently purchased equity in the club, injecting more than useful income into us.
"I am, along with Sarbjot, keen that the process should now move on at pace to come to a positive conclusion."

Mr Johal has been a guest of the club at a number of the Shrimps' home games recently and there has been speculation for weeks that he is a potential buyer.
He is the founder of Vitanic Holdings Limited, a non-alcoholic beverage company based in Birmingham.
In September, Morecambe FC announced that Jason Whittingham of Bond Group Investments and Colin Goldring were stepping back from their positions on the board of directors, as the club was being prepared to be sold. Bond Group Investments own the club.


Police issue update into assault investigation at Morecambe bar
PHOTOS: Our tour of the biggest ever Morecambe Music Festival
LISTEN: Public event held as residents have say on £100m regeneration plans for Lancaster
Crews tackle fire in West End of Morecambe
New railway station display marks Eric Morecambe's 100th birthday
Lancaster TV chef receives Honorary Fellowship from University of Lancashire
Two arrests after man seriously injured in assault at Morecambe bar
Power cut hits thousands of properties in Morecambe
Cyclist taken to hospital after collision in Morecambe
Morecambe misses out on shortlisting for inaugural UK Town of Culture
LISTEN: Morecambe Music Festival set to bring sunny vibes at town's four-day party
Lancaster and Morecambe pubs, cafes and restaurants back TV chef's campaign to cut VAT
Morecambe and Carnforth named top two trending UK staycation spots
Lancashire Police praise football fans for winning performance during World Cup
Community food workshops aim to empower people across the Lancaster district
£10 park show tickets part of Lancaster theatre's scheme to help with cost of living crisis
Man given lengthy jail term for attempted rape in Morecambe
Work continues to restore Morecambe Winter Gardens as it remains on national 'at risk' register
Tributes paid to renowned horse and carriage driver and true local legend
Crews tackle outbuilding fire near Carnforth

