Latest news with #JasonWhittingham
The Sun
12 hours ago
- Business
- The Sun
Controversial non-league owner sacks ENTIRE board after they threatened to plunge crisis club into administration
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. 1 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. 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. '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.
BBC News
14 hours ago
- Business
- BBC News
Morecambe owner sacks club board 'to avoid administration'
Morecambe owner Jason Whittingham has sacked the club's board a day after they said they would place the club in administration if it was not beleaguered Lancashire club's board put two statements out on Tuesday that gave Whittingham's Bond Group Investments until 18:00 BST to complete a protracted sale to Panjab the deal was not finalised and Whittingham has now said he has "started the process to dismiss the board of directors with immediate effect in order that we can take control over the situation".He added this would give the Bond Group "the required additional time to ensure that the club has the best chance to avoid administration".The Shrimps will play in the National League next season after they were relegated from League MP Lizzi Collinge said on Monday that Bond Group should "get on with" the deal to sell the 105-year-old Tuesday the directors initially released a statement saying they would give Whittingham until 16:00 BST, before allowing an extra two hours after "new information came to light".This second deadline passed without the sale going through and in a third statement of the day, the board said that they would be contacting administrators "at the earliest opportunity", external on who said the club was at a "crisis point" but denied claims he was stalling on the deal, said there would be further communication on Thursday. Morecambe misery continues Whittingham, who oversaw the takeover of the club in 2018, previously told BBC Radio Lancashire that he "could not wait to get out" of the then League Two club in an interview in then the club, which reached League One in 2021, have been relegated from the English Football League (EFL), meaning they will play in the National League next season for the first time since deal to sell the club to Panjab Warriors was approved by the EFL earlier in Warriors said last week they had already paid £3.8m to Bond Group, alongside a separate payment of £630,000 to clear outstanding loans against the group claimed they had also loaned a further £1.7m to the club over the past 14 months to "ensure its ongoing survival".
The Guardian
a day ago
- Business
- The Guardian
Morecambe on verge of administration amid infighting and stalled takeover talks
Morecambe are on the verge of entering administration after talks between the club's directors and owner Jason Whittingham failed to find a breakthrough regarding a potential takeover. The Panjab Warriors consortium received clearance from the Football League to complete a takeover of the Shrimps at the start of June but the process remains incomplete and on Friday Morecambe's board said Whittingham and his Bond Group Investments 'appear to be considering reneging on the deal'. Early on Tuesday the board set a deadline of 4pm for Whittingham to conclude the deal as his group did not have the funds required to meet the club's payroll commitments, saying they would call in the receivers if the deadline was not met. That deadline was later extended to 6pm 'after new information came to light', but a further statement on Tuesday evening said that no progress had been made. The statement read: 'Following further discussions with Jason Whittingham this afternoon and evening, it is apparent to the board of directors that he is, for some reason, stalling for time and attempting to drag out what is a truly horrible situation and decision for as long as possible. 'We must emphasise that this is without providing the board with any substantive or convincing reasons for us to responsibly delay triggering the administration process. 'The board of directors have this evening informed Jason that administrators will be called, at the earliest opportunity, tomorrow morning. Jason still has the chance to do the right thing, agree to sell his shares tomorrow morning, but that opportunity expires once and for all after that.' Morecambe suffered relegation from League Two at the end of last season and are due to compete in the National League next term.
BBC News
a day ago
- Business
- BBC News
Morecambe on edge of admin without sale, says board
Morecambe's board of directors say they will begin the process of putting the club into administration later on Tuesday if its owner does not sell the Shrimps.A protracted takeover of the club by the Panjab Warriors consortium has still not reached its conclusion, and on Friday the board alleged that owner Jason Whittingham's Bond Group Investments were "considering reneging", external on the MP Lizzi Collinge said on Monday that Bond Group should "get on with" the deal to sell the 105-year-old in a fresh board statement made on Tuesday lunchtime, the directors said an ultimatum had been issued to Whittingham as he was "again refusing to sell his shares in the club" which would result in staff wages going Radio Lancashire have again contacted Whittingham for Tuesday's statement,, external Morecambe's board said: "Because Bond Group do not have the required funds to meet the club's full payroll commitment, despite being entirely responsible for paying wages until a sale completes and aware of that responsibility and the requirement, this means that wages cannot be paid until the sale completes."Panjab Warriors do have the funds available to pay all wages, and are ready to transfer these immediately, but they are not able to do so unless the sale completes and they are the owners."As a result, we have had no choice but to issue an ultimatum to Jason Whittingham at 9:52am this morning, Tuesday 1st July 2025, that unless Bond Group's shares are sold to Panjab Warriors by 4pm today, the board of directors will be left with no option but to begin the process of putting the club into administration." Whittingham, who oversaw the takeover of the club in 2018, previously told BBC Radio Lancashire that he "could not wait to get out" of the then-League Two club in an interview in then the club have been relegated from the English Football League, meaning they will play in the National League next season for the first time since deal to sell the club to Panjab Warriors was approved by the English Football League earlier in Warriors said last week, external they had already paid £3.8m to Bond Group alongside a separate payment of £630,000 to clear outstanding loans against the group claimed they had also loaned a further £1.7m to the club over the past 14 months to "ensure its ongoing survival".
The Sun
2 days ago
- Business
- The Sun
Former EFL club locked in civil war as board threatens to put club into administration TODAY if owner doesn't sell
MORECAMBE FC face going into administration TODAY if the Bond Group owners do not sell up. The Shrimps were relegated from League Two last season after finishing rock bottom. 5 5 5 The club issued a public statement that claimed that the Bond Group does not have the funds to meet payroll requirements. Jason Whittingham has insisted that his intention is to sell the club to the Panjab Warriors. However, the club statement has revealed that he is "again refusing" to sell his shares in the club. This has put the sale of Tyson Fury 's beloved Morecambe at risk and has increased the threat to the club's future. The board has issued an ultimatum to Whittingham for him to either sell or the 105-year-old club will have to enter administration. The perilous position has been described as a "civil war" at the club. A club statement read: "Following multiple meetings with Bond Group throughout the weekend and yesterday, in several of which Jason Whittingham stated once again his desire and intention to sell his shares in the club to Panjab Warriors, in line with the sale agreement reached and announced weeks ago. "The board of directors met at 9am this morning to discuss the fact that, despite all parties apart from Bond Group doing everything possible to complete the sale yesterday, as of last night Jason Whittingham was again refusing to sell his shares in the club to Panjab Warriors. JOIN SUN VEGAS: GET £50 BONUS "Because Bond Group do not have the required funds to meet the club's full payroll commitment, despite being entirely responsible for paying wages until a sale completes and aware of that responsibility and the requirement, this means that wages cannot be paid until the sale completes. "Panjab Warriors do have the funds available to pay all wages, and are ready to transfer these immediately, but they are not able to do so unless the sale completes and they are the owners. Abandoned EFL stadium left to rot with pitch covered in weeds just five years after hosting final match "As a result, we have had no choice but to issue an ultimatum to Jason Whittingham at 9:52am this morning, Tuesday 1st July 2025. "That unless Bond Group's shares are sold to Panjab Warriors by 4pm today, the board of directors will be left with no option but to begin the process of putting the club into administration. "We have been crystal clear in spelling out what this might mean for all staff, for the club, and for the whole community that is built around it, and we have left Jason Whittingham in no doubt as to the fact that his unwillingness to complete a transaction that he has repeatedly agreed to is the sole reason we are in this position. "As a board of directors we will continue to do absolutely everything that we can to apply as much pressure as possible to make the sale happen before today's 4pm deadline. 5 5 "It is now down to Jason Whittingham and Bond Group to do the right thing, and not risk the destruction of people's livelihoods, the truly wonderful football club that we love, the community that it sits at the heart of, and 105 years of proud history." Club staff were meant to be paid on June 27 but were informed that it would be delayed. The Panjab Warriors have been cleared by the EFL to move forward with the purchase after satisfying the stringent owner and director tests. The club was previously sponsored by Fury as his Gypsy King brand was embroidered on the home and away shorts for the 2022-23 season.
