Morecambe FC crisis: "Agreement reached in principle" over sale of club

Thursday, 14 August 2025 17:10

By Greg Lambert @greglam72

An agreement has reportedly been reached over the sale of Morecambe FC - and a Shrimps fans group has called it "a significant step forward" in the long-running saga.

Club owners Bond Group Investments and prospective buyers Panjab Warriors jointly announced on Thursday that "an agreement has been reached in principle for the transfer of majority shareholding in Morecambe Football Club Ltd".

They said this followed "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," continued the statement.

"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 Investments 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, Derek, Oliver and Martin 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."

In response, the Shrimps Trust supporters group issued a statement on Thursday which said:

"The trust can confirm that a constructive meeting has taken place between Bond Group and Panjab Warriors.

"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 reassurance that a resolution is in sight."

Beyond Radio has contacted Panjab Warriors, the UK-based investment company who have been attempting to complete a takeover of the Shrimps for some time, for comment.

Thursday's announcement comes almost six weeks after it was previously announced that the sale of the club to Panjab Warriors would complete.

This statement, from Bond Group Investments on Friday July 4, said:

"Bond Group Investments LTD and Panjab Warriors Sports LTD have today agreed final terms for the transfer of ownership and sale of Morecambe Football Club Limited, subject to contract, and intend to complete the sale of Morecambe Football Club Limited on Monday 7th July 2025.

"Bond Group have invited former Morecambe FC directors back to the board of directors to support the final stages of the sale process. At time of publication, Bond Group is awaiting confirmation of the directors.

"Panjab Warriors will now engage with the National League to deal with closing steps of the sale process, in particular to convey their plans for the 25/26 season and provide evidence that the club will be in a stable financial position moving forward.

"Final documentation is being prepared for the completion, which will take place on Monday 7th July 2025.

"A further update from Bond Group will follow on Monday 7th July 2025."

However, a subsequent statement on July 7 said:

"[Owners] Bond Group Investments Ltd remains committed to the sale of its majority shareholding in Morecambe Football Club. In doing so we also remain committed to ensuring that staff are paid as soon as possible and the club avoids administration.

‘"We made significant progress over the past few days, getting legal agreements drawn up and agreed in principle, subject to signing, with various stakeholders involved in the sale.

‘"Despite the expectation to complete today, unfortunately there are some final items to get signed off and it’s likely we will need tomorrow to complete the sale."

After this, it appeared the sale to Panjab Warriors had stalled, amid accusations from both sides.

The prospective buyers accused Bond Group and its director Jason Whittingham of "holding the club hostage" and threatened legal action, while Bond Group announced they were in talks with another consortium over the sale.

More recently, Bond Group announced that "we have agreed to a mediation meeting with Panjab, for this Wednesday (August 13)".

Morecambe FC is currently suspended from the National League, who are due to meet again to discuss the Shrimps' future in the competition on August 20. As a result of the suspension, Morecambe's scheduled first home game of the season this Saturday will not take place.

Meanwhile club operations have virtually ground to a halt, and bills and staff wages have not been paid.

On Thursday, a winding-up petition was issued by HMRC (HM Revenue and Customs, the UK's tax authority) against Morecambe Football Club.Limited.

Morecambe Football Club has been up for sale since September 2022.

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 sports investment firm 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 from Bond Group 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 (below) - 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 , 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". Morecambe beat Longridge 2-1 in their first pre-season friendly.

Wednesday July 9: Jason Whittingham says a new buyer has come forward and agreements will be signed "this evening". The Shrimps Trust respond by saying that the National League had not been made aware of the alternate buyer.

Thursday July 10: Panjab Warriors say they are "currently seeking legal advice and will begin exploring all legal avenues, including action for misrepresentation and recovery of funds". Meanwhile, events and functions at the football club are having to be cancelled, including parties for primary school leavers, due to the ongoing issues. And Lizzi Collinge MP writes to Mr Whittingham saying she is "baffled and saddened" by the situation at the club.

Friday July 11: Tarnia Elsworth of the Shrimps Trust said the club was "effectively grinding to a halt". The club is, by now, under a transfer embargo preventing them from signing new players.

Saturday July 12: Panjab Warriors has raised formal complaints with the National League. They have called for an investigation - alleging breaches of the Owners' and Directors' Test (OADT) which owners have to pass to show they are fit and proper to own a football club.

Monday July 14 In an interview with 'The Ugly Game' website, Rod Taylor, former co-chairman of Morecambe, says the club has "only days left, literally days.”

Tuesday July 15: Fans club together to raise money for a treat for the playing staff, who still have not been paid in full. Morecambe defeat Hyde United 5-2 in a pre-season friendly.

Wednesday July 16: Morecambe announce their upcoming pre-season fixture against Barrow AFC on Tuesday July 22 at the Mazuma Mobile Stadium will now be played behind closed doors.

Thursday July 17: The Shrimps Trust reveal the name of a person they say that two different sources have told them is in talks over the sale. Mr Whittingham released a statement saying "recent guesses" on the identity of a prospective new buyer of the club are "not accurate".

Friday July 18: Beyond Radio and national media visit the club to speak to former directors and fans about the crisis. Mr Whittingham releases a statement saying the consortium buying Bond Group's major shareholding in Morecambe FC is "led by Mr Jonny Cato" and that "sales agreements will be completed today" with a "further announcement to follow today". No further announcement is made.

Saturday July 19: Morecambe draw 1-1 away at Marine in a pre season friendly. Panjab Warriors "express deep concern and strongly contest yesterday’s public announcement by Mr Jason Whittingham regarding a proposed sale of Morecambe Football Club to a consortium including named individual Mr Jonny Cato".

Sunday July 20: Morecambe FC announces its pre-season friendly with Barrow, scheduled for Tuesday July 22, has been cancelled.

Monday July 21: The Shrimps Trust supporters group say that "we understand that the (Barrow) fixture on Tuesday has been cancelled as the players as a group have decided not to play until the current ownership situation is resolved" and "we support their decision".

Tuesday July 22: BBC Radio Lancashire report that they've spoken to Derek Adams, Morecambe FC manager, who says "the players are not on strike and they all trained today at the training ground. Their professionalism has been magnificent during this difficult time. We all want this situation to be resolved and the best outcome for Morecambe Football Club." Morecambe announces their game with AFC Fylde on Saturday will go ahead.

Wednesday July 23: A group of Morecambe FC shareholders issue an ultimatum to the owner - sell the club within 48 hours or face High Court action. Wright and Lord Solicitors, of Morecambe, say a 'minority shareholder' action could be taken against Bond Group Investments and Jason Whittingham in an effort to force the long-awaited sale of the Shrimps.

Friday July 25: The National League gives Mr Whittingham until noon on Monday to meet terms they'd outlined to him in writing. They are due to meet on Monday afternoon to "discuss possible further sanctions".

Saturday July 26: Morecambe draw 0-0 away at AFC Fylde in a pre-season friendly.

Sunday July 27: Jason Whittingham releases a public statement saying: "Bond Group Investments has continued to work with the consortium led by Jonny Cato in their efforts to acquire the majority shareholding in Morecambe Football Club. Whilst talks are ongoing, it is clear that continual negative press statements impacting on the club, have given them cause for concern and pause. Alongside this, Bond Group had agreed to an offer, made by a representative of, and on behalf of, the Panjab Warriors, and are ready to sell on that basis. Despite numerous attempts over the past week to contact Panjab Warriors regarding their offer, and our willingness to complete, we have not heard from them. We now urge the Panjab Warriors to make contact in an effort to complete on the sale."

Monday July 28: The planned High Court action by a group of Morecambe FC minority shareholders, hoping to force a sale of the club, has stalled. Wright and Lord Solicitors said: "Over the past week, it has proved impossible for anybody involved to directly reach any of the Panjab Warriors representatives. Without the evidential support from Panjab Warriors and their commitment to buy, any court application at this stage is futile."

The National League suspends Morecambe until August 20, affecting their first three league games of the season due to start on August 9, and also removes them from the coming season's National League Cup. The league will meet again on August 20 to discuss whether to expel the Shrimps altogether.

Tuesday July 29: Panjab Warriors, Wright and Lord Solicitors on behalf of a group of minority shareholders, the Shrimps Trust and Lizzi Collinge release a joint statement saying: "Panjab Warriors are now ready, willing and able to proceed with the purchase immediately. The funds required to clear the necessary liabilities would be met forthwith. This would see the payment of all outstanding wages and other immediate liabilities to allow the club to prepare for the season and lift the club’s suspension and embargo from the National League. The National League are aware and ready to sanction the deal and immediately lift the suspension and embargo should the sale proceed."

Morecambe's friendly match with Lancaster City, scheduled to take place that evening, has been cancelled.

Wednesday July 30: A joint statement by Panjab Warriors, Wright and Lord Solicitors on behalf of a group of minority shareholders, the Shrimps Trust and Lizzi Collinge, says "the first team have had to stop all football operations as the required insurance which was in place has now lapsed as payment has not been made".

Thursday July 31: A further joint statement, by Panjab Warriors and the minority shareholders action group, says "as of Monday, 4th August, the club is officially shut" unless the sale is completed. Tarnia Elsworth steps down as chair of the Shrimps Trust and is given a standing ovation by members for her work over the past year in what the trust called "undoubtedly the most challenging period in the history of Morecambe FC", during the organisation's Annual General Meeting held at the Strathmore hotel.

Friday August 1: Lisa Nandy, Secretary of State for Culture, Media and Sport, reveals she's written to Mr Whittingham calling on him to complete the sale. It is announced that an event celebrating Morecambe FC, to raise money for the Shrimps Trust, will be held at the Winter Gardens in Morecambe on August 22.

Monday August 4: Beyond Radio visits the club where a small number of employees - including members of management - are still going about their duties. No official closure date is confirmed by the staff we spoke to and the club's much-loved kit man of 30 years, Les Dewhirst, tells us that today "was never the last day".

Tuesday August 5: Hundreds of supporters queue for hours along the Promenade in a show of unity, on the first day of the three-day launch of the 2025/26 Morecambe FC kit held at the former Beach Cafe.

Wednesday August 6: Stuart Glover, CEO of the club's official charity the Morecambe FC Community Foundation, says it's "business as usual" for them and their activities will continue at the Mazuma "until somebody puts a padlock on the front door". A small number of Morecambe staff are still working inside the stadium.

Meanwhile the Prime Minister Sir Keir Starmer, when asked about the Morecambe FC crisis by Greatest Hits Radio, says "we have to do everything we can" to protect the Shrimps and other football clubs who are struggling.

Friday August 8: Panjab Warriors release a statement saying a latest attempt to move the sale process on has been thwarted after Bond Group cancelled a proposed mediation meeting in London on Thursday.

Saturday August 9: Morecambe fans attend the opening day of the league season as invited guests of other clubs including Bury, Harrogate Town and Kendal Town. But for their suspension from the National League, the Shrimps would have been kicking off away at Boston United today.

Monday August 11: Mr Whittingham and Bond Group release their first public statement for 15 days, saying they had agreed to a mediation meeting with Panjab Warriors on Wednesday. The statement said "we continue to work with a number of potential buyers to secure the future of Morecambe Football Club, all of whom are aware of the urgency of the club’s position and fully expect this process to complete this week". They also said they would appoint an interim board "imminently". The Shrimps Trust described this as "an empty, meaningless statement" and said Mr Whittingham "hasn't just run the club into the ground, he's burying it."

Prospective buyers of Morecambe FC claim meeting with owners cancelled with ‘'weak and unconvincing excuses’' - Beyond Radio

Football community pledges support to Morecambe FC on day season due to start - Beyond Radio

INTERVIEW: Business as usual for Morecambe Football Club's official charity - Beyond Radio

INTERVIEW: Football merch boss backs crisis-hit Morecambe FC amid massive demand for new kit - Beyond Radio

INTERVIEW: Morecambe FC women and girls "will wear badge with pride" during crisis - Beyond Radio

Morecambe FC crisis: Prime Minister Sir Keir Starmer speaks out on Shrimps' plight - Beyond Radio

Morecambe FC fans queue for hours in show of unity amid huge demand for new kit - Beyond Radio

Morecambe FC crisis: "It was never the last day" - Beyond Radio

Morecambe FC crisis: Top government minister calls on Shrimps owner to sell club - Beyond Radio

Morecambe FC crisis: Football club to "officially shut" on Monday, say would-be owners - Beyond Radio

Morecambe FC fans' group chair to step down from role - Beyond Radio

Morecambe FC crisis: First team football operations at club have stopped - Beyond Radio