'Where is the money?' Morecambe FC sale on brink of collapse after wages delay

Friday, 27 June 2025 13:02

By Dave Salmon @dpsalmon

The board at Morecambe Football Club say the deal to take over the ownership of the club is on the brink of collapsing.

The directors also said the wage bill for June hadn't been met by the current owners of the football club.

All Morecambe staff, including the playing squad, are due to be paid on the 28th of the month, and with that day falling on a Saturday, it was expected wages would be paid today, Friday (27th).

The bombshell news came as fans were expecting a conclusion to the long-running saga of the buyout of the club, which has been up for sale since September 2022.

Earlier this month, prospective new owners, Panjab Warriors were cleared by the English Football League (EFL) to proceed with the purchase, having satisfied the requirements of the stringent owner and director tests that are in place.

It was expected the sale would complete shortly afterwards, but this has not happened.

And in an explosive statement on Friday, the Shrimps' board of directors accused owners Bond Group Investments of "considering reneging on the deal".

‘’(Owners) Bond Group Investments Limited, despite agreeing a sale with Panjab Warriors, giving the board assurances for more than a year that they intend to sell to Panjab Warriors, and working with Panjab Warriors to enable them to gain EFL clearance for the acquisition to proceed on 6th June 2025, now appear to be considering reneging on the deal and attempting to engage with alternative buyers.

‘’On the same day that they have failed to provide the funds required to meet the club’s June payroll, despite understanding exactly what that requirement is.

‘’They have also, at the last minute, informed the board of directors and Panjab Warriors that they are not actually in a position to transfer their shares to a buyer without consent from an unspecified third party.

‘’Bond Group Investments Limited are playing with people’s livelihoods, threatening the very existence of this proud club, and risking serious damage to the community it serves.

Below, Jason Whittingham, director of Morecambe FC owners Bond Group Investments

‘The board of directors call upon them to, for once, do the right thing and sell the club immediately to Panjab Warriors, the only potential buyer that has passed the EFL’s fit and proper test and proved willing to engage properly with a sale process that has now been ongoing for over two and a half years.

‘’The board of directors have, once again, considered resigning, and only remain in post to attempt to protect the interests of the club, staff and everyone associated with it."

Panjab Warriors, in their own statement on Friday, accused Bond Group of "obstructing the completion of the sale" and trying to "extract additional funds from the Panjab Warriors team by using Morecambe FC’s future as leverage".

It’s the latest twist in the lengthy saga surrounding the ownership of the Shrimps, ever since the club was put up for sale almost three years ago.

Panjab Warriors statement

On Friday evening, prospective Morecambe FC buyers Panjab Warriors released this statement.

"Since the English Football League granted clearance for the purchase of Morecambe FC almost a month ago, the Panjab Warriors team has been working tirelessly to progress and finalise the sale of the club.

"From our perspective, the final transaction—now in the hands of our solicitors—has been ready to proceed for over a week. However, despite repeated efforts to move things forward, it has become apparent that Bond Group, through their representatives, has adopted an uncooperative stance. This is now obstructing the completion of the sale.

"To date, a sum of £3,800,000 has already been paid to Bond Group, alongside an agreed sum of £630,000 to clear the outstanding loans against Morecambe FC. In addition, over the past 14 months, £1,700,000 has been loaned—interest-free—by the Panjab Warriors team to meet the club’s monthly working capital needs and ensure its ongoing survival.

"We now see no option but to publicly disclose the current situation, as the continued delays have become untenable."

The statement accused Bond Group of "deliberately jeopardising the very existence of the club in a last-ditch effort to alter terms that were already agreed upon and formally ratified by the EFL".

"This is a blatant attempt to extract additional funds from the Panjab Warriors team by using Morecambe FC’s future as leverage.

"Disturbingly, further proof of this emerged today when the Bond Group informed Morecambe FC’s board of directors that they are unable to facilitate the club's payroll, due today, for players and staff—displaying a shocking disregard for the livelihoods of those who serve the club day in, day out.

"We firmly and publicly criticise the actions and approach of (Bond Group director) Jason Whittingham and his associates and implore Bond Group to honour the agreed terms and finalise the sale without further delay.

"Morecambe FC, its supporters, staff, and players deserve better."

Beyond Radio has contacted Bond Group for comment.

On June 6, Panjab Warriors stated that the takeover was set to be "finalised in the coming days" and on June 9, a Panjab Warriors spokesman told Beyond Radio he expected the sale to complete "very soon".

Below, Rod Taylor and Graham Howse, co-chairmen of Morecambe FC, pictured with Gurpreet Singh of Panjab Warriors earlier this month after EFL clearance for the takeover was given.

Gurpreet Singh, head of communications at Panjab Warriors, said there were "exciting times ahead" for the football club during the first interview with a representative of the company during their involvement with the club.

When asked, at the time, when the final deal to buy the club would go through, Mr Singh said:

"I don't want to overpromise but it's going to be very soon. That's all I can say."

Since the EFL gave clearance, Morecambe, who were relegated from League Two in May, have formally become members of the National League, ahead of the season due to start on August 9.

Supporters have become increasingly frustrated that there has also been very little from the club in the way of public communication concerning either the completion of the sale, transfers, or pre-season matters, with the first team squad due to return to training this week.

‘Direct communication’

Earlier today, the official supporters group of the club, the Shrimps Trust, said: ‘’We are calling for direct communication from Panjab Warriors, the Morecambe FC board of directors, and Jason Whittingham to update fans as to the position of this sale.

‘’We were told at our meeting on Wednesday that this was likely to be concluded in 48 hours. From subsequent conversations, this is now looking unlikely.

‘’Despite continued assurances from all parties that the matter is in hand, it is clear that progress is taking longer than is reasonable or explainable.

‘’Whilst the trust has been unable to ascertain who is specifically at fault for these unreasonable delays, we urge communication, so that our fan base are given a clear picture of timescale.

‘’If there is an issue with the sale, this needs to be open and transparent, after 14 days of being told 'this will complete imminently' the message has worn thin.

‘’EFL clearance has been given, we have been told that terms had been agreed, no more time should be wasted.

‘’Complete the sale of our club, and let Morecambe FC start a new chapter in our history.’’

Following the board's statement, a further Shrimps Trust statement said:

"We call on the club to announce a fans' forum as soon as possible, to be accessible online and in person, with the ability for our members and the wider fan base to submit accountable questions in a public forum.

"We further suggest that representatives of Bond Group, as owners of the club, attend that meeting, along with members of the press/media.

"The trust will be working hard over the coming days to push for an open forum conversation to come to fruition.

"All parties privy to the details of why the sale is now delayed need to publicly answer to our members and the wider fanbase."

Below, a fan protest about the lengthy sale process, held before a Morecambe FC match last season.

‘Where is the money?’

Fan protest group, The 1920 Union, said in a statement: ‘’Once again, we find ourselves reacting to deeply concerning news: players and staff at Morecambe FC have reportedly not been paid on time. This is the third time this has happened under Jason Whittingham's ownership since the club was placed up for sale 1,029 days ago.

‘’We have campaigned for months for answers, accountability, and action regarding the ownership and financial management of our club. We have consistently raised the alarm about the lack of communication and transparency, and the growing signs of financial instability.

‘’If wages are late again, then serious questions must be asked.

‘’Where is the money? We are reminded that season ticket sales are up compared to last season. Prize money and gate receipts from our FA Cup run, as well as solidarity payments from the EFL, have been received. Yet the staff and players who keep this club going are once again left in limbo.

"Our solidarity lies entirely with players and staff, who are once again bearing the brunt of off-field failures that are not of their making. They deserve better. We all do.

‘’Meanwhile, we are just 11 days away from our first pre-season fixture, and the club has only nine contracted professionals. There is no clear plan for squad building, no clarity on (manager) Derek Adams' future, and no public reassurance that the situation is under control. This is not normal. It is not acceptable. It is not sustainable.

‘’We note that the trust has now called for communication from the ownership, which is a positive step, although one that has come far too late given the severity of the situation. Supporter voices must be unified and loud if we are to see change.

‘’Enough is enough. We need a sale. We need answers. And we need a future we can believe in.

‘’Our club cannot continue to drift aimlessly. It must be secured, stable, and supported.’’

MP says 'fans and staff deserve better'

Lizzi Collinge, MP for Morecambe and Lunesdale, said: "I'm exceptionally disappointed to read this latest update on the sale of Morecambe FC.

"Fans and staff deserve better from the current owner - staff need paying and the sale needs to go through."

Not the first time

Club wages have been delayed several times in the past.

In April 2024, wages were delayed, the day before the Shrimps’ final game of the season, which lead to a much-changed Morecambe team playing in the match.

The wage bill was settled two day later.

The Shrimps were also deducted three points from their league total in the 2023/24 season earlier after the conditions of an ‘Agreed Decision’ were breached following another incident of non- payment of wages in March 2023.

Bond Group has owned Morecambe FC since 2018.