Morecambe FC’s owners announce ‘highest ever League Two budget in club’s history'

Sunday, 28 May 2023 19:12

By Dave Salmon @dpsalmon

The current owners of Morecambe FC have announced the ‘highest ever League Two budget in the club’s history'.

In a statement, Bond Group Investments Limited said they had pledged a financial ‘support package’ for the Shrimps, which ‘’includes a playing budget that will be the highest provided as a League Two club in our history.’’

The statement continues: ‘The budget will have a significant uplift compared to our promotion year in 2020/21.

‘’This budget is a statement of the club’s intent to have a competitive and successful 2023/24 season in League Two.

‘’Derek and his recruitment team have been notified of this budget and are already working hard to assemble the playing squad.

‘’The club will announce any new signings through its official channels as normal and we wish everyone at the club, and the community of Morecambe, the very best for the season ahead.’’

The statement makes no reference to the source of the funding, or the ongoing situation regarding the proposed takeover of the club by Sarb Capital.

The announcement comes shortly after it was announced in an official statement from the club’s board of directors that the Shrimps would post a loss of around £800,000 for the 2022/23 season, which saw the club relegated after two seasons in League One.

The recently published club accounts up to the end of May 2022 show Morecambe made a profit of £1.3m in their debut season in League One.

The Shrimps’ staff and players had their wages delayed in March, with Sarb Capital investing funds twice to cover costs until the end of the season.

April and May’s wages were paid on time.

Morecambe currently only have six first team contracted players in their squad, after 14 out of contract players were all released at the conclusion of the season.

The news has been welcomed with cautious optimism by many Morecambe fans online.

‘’We would continue to encourage supporters to buy their season tickets and support the team ahead of the new campaign,’’ the statement concludes.

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