Latest news with #BondGroupInvestments
BBC News
an hour ago
- Business
- BBC News
Morecambe 'will close on Monday'
The consortium looking to take over ailing National League side Morecambe has said that the club will close on Warriors said in a statement on Wednesday that all first-team operations had stopped because the club's insurance had group and Morecambe's minority shareholders have now said the academy will shut on Friday and that, as it stands, the club will cease to operate on Monday 4 sports investment company, who have been in talks with the club's owner Jason Whittingham for more than a year, released a statement earlier this week to say they remain "ready, willing and able" to take Shrimps were suspended by the National League until 20 August on Monday over a failure to comply with the league's Thursday's statement Panjab Warriors called on Whittingham to sign the deal "immediately".Earlier this week Whittingham said owners Bond Group Investments were ready to sell and urged Panjab Warriors to make contact.
The Guardian
3 days ago
- Business
- The Guardian
Morecambe's future thrown into doubt after suspension from National League
Morecambe have been suspended from the National League with immediate effect as concern mounts regarding the future of the 105-year-old club. Jason Whittingham, Morecambe's controversial owner, had been given until noon on Monday to outline how the club would meet their financial obligations for the 2025-26 season after talks with the National League last week. However, shortly after the Monday deadline passed, it was announced that further sanctions had been taken against Morecambe at another meeting of the league's compliance and licensing committee. In a statement, the National League said the committee had 'reconvened this afternoon to debate the ongoing concerns surrounding Morecambe Football Club and its compliance with National League rules', adding: 'It was decided further sanctions must be imposed, with the club's membership to be suspended with immediate effect. 'The club will also remain under embargo ahead of the new season. Morecambe Football Club will also be removed from the National League Cup for the forthcoming season.' The committee will meet again on 20 August to consider whether Morecambe have satisfied its financial concerns and 'to decide the club's ability to retain membership in the competition'. That meeting is scheduled for after what would have been Morecambe's opening three games of the new season. Whittingham's Bond Group Investments have been involved in a contentious takeover saga over the past two years that has led to the resignation of Morecambe's board of directors, seen wages paid late and prospective owners, Panjab Warriors, threaten legal action. Panjab Warriors received EFL clearance to complete a takeover last month only for Whittingham to announce that a new buyer had come forward. Whittingham issued a long-awaited statement on the takeover on Sunday in which he claimed his company 'has continued to work with the consortium led by Jonny Cato in their efforts to acquire the majority shareholding' in Morecambe. He blamed negative media reports for giving the consortium 'cause for concern and pause' and claimed the Bond Group had been unable to contact Panjab Warriors over the past week. Morecambe were relegated from the EFL last season after 18 years. Lizzi Collinge, the Labour MP for Morecambe and Lunesdale, said recently there was a 'very real risk' that the club would soon cease to exist.
BBC News
07-07-2025
- Business
- BBC News
Morecambe owner 'committed to selling club' despite delay
Morecambe's owner has said he is committed to selling the club despite the deal not going through as deal between Jason Whittingham's Bond Group Investments and Panjab Warriors was set to be formally completed on in a statement issued on Monday, Whittingham said he expected to need more time on Tuesday in order to complete the deal."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," the statement said., external"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."The statement also contained a pledge to ensure staff are paid "as soon as possible" and that the club would avoid delay follows a turbulent week which saw the board threaten to place the National League club into administration if Whittingham did not complete the sale last subsequently sought to remove the board the following day but "former directors" were invited back to "oversee the final stages of the sale process" later in the Shrimps were relegated from League Two last season after 18 years in the English Football League.
BBC News
04-07-2025
- Business
- BBC News
Terms agreed on delayed Morecambe takeover
Terms have been agreed on the protracted takeover of Morecambe by Panjab Warriors, current Shrimps owner Jason Whittingham has said.A turbulent week at the National League side saw the board threaten to place Morecambe into administration if Whittingham did not complete the sale of the club on subsequently sought to remove the board the following the deal between Whittingham's Bond Group Investments and Panjab Warriors has now been made and is set to be formally completed on Monday, 7 Shrimps were relegated from League Two last season after 17 years in the English Football League. More to follow.
Scottish Sun
02-07-2025
- Business
- Scottish Sun
Controversial non-league owner sacks ENTIRE board after they threatened to plunge crisis club into administration
He also set ambitious deadline for a final outcome over sale SHRIMP SHOCK-TALE Controversial non-league owner sacks ENTIRE board after they threatened to plunge crisis club into administration Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MORECAMBE are facing administration following their relegation from the EFL after the club's board was sacked as takeover talks hit a massive roadblock. Tyson Fury's beloved Shrimps were left stranded on the financial rocks following the row between owner Jason Whittingham and his directors over the proposed sale. Sign up for Scottish Sun newsletter Sign up 1 Morecambe's owner has sacked the entire board as the club face administration Credit: Rex EFL bosses gave the green light to the Panjab Warriors consortium headed by London-based businessman Kuljeet Singh Momi at the start of June. Despite the proposed new owners posing for pictures with Morecambe scarves, the deal has yet to be completed, with club directors suggesting Whittingham and his Bond Group Investments 'appear to be considering reneging on the deal'. They set Whittingham a deadline of 4pm on Tuesday, accusing him of not having the funds to meet the club's salary bill and threatening to call in the receivers. But Whittingham has now responded by booting the board - insisting it is the only way for Morecambe to find a solution to keep the club going and denying he is 'stalling' on the sale. READ MORE IN FOOTBALL 'SINCERELY APOLOGISE' Newcastle apologise and remove video after fans spot 'offensive' flag In a statement explaining the move to fans, Whittingham said: 'There is no doubt that the Club is in a precarious position and is at a crisis point. 'We also appreciate the stress this is causing for all connected with Morecambe FC. 'As majority shareholder we are making every effort to resolve any issues that have arisen and are working to protect the best interests of the club.' He added: 'Bond Group Investments has started the process to dismiss the board in order that we can take control over the situation giving us the required additional time to ensure that the club has the best chance to avoid Administration. BEST FREE BETS AND BETTING SIGN UP OFFERS 'We hope the board put the interest of the club before any personal grievances and during this delicate time of negotiation to save the club, refrain from their propensity of issuing negative statements. 'The notion that Bond Group Investments is stalling is not true. We are deeply sorry for the distress and uncertainty this is causing. Abandoned EFL stadium left to rot with pitch covered in weeds just five years after hosting final match 'Bond Group Investments need to ensure that any transfer of shares, in a sale, is done in a way that holds no recourse for either the Club or Bond Group. 'The safety of the club's future is paramount and our focus is to work to find solutions to resolve the matter of staff salary and the sale of the club to avoid administration at all costs.' Whittingham promised a final outcome in the next 24 hours but 10 weeks after their 18-year EFL story came to a crashing end, the entire future of the club is under huge doubt.
