Latest news with #PanjabWarriors
BBC News
6 days ago
- Business
- BBC News
Cato-led consortium confirmed as Morecambe bidders
A consortium looking to take over beleaguered National League club Morecambe is being led by an investor called Jonny Cato, the Shrimps' current owner has consortium is separate to that of Panjab Warriors, who had their own takeover bid approved by the English Football League shortly after the club's relegation from League Two last owner Jason Whittingham had previously said terms had been agreed with Panjab Warriors, with a deal set to be formally completed earlier in July, before a "last-minute bid" came in from a statement, external on Friday, Whittingham said Cato would be part of "an impressive group being built around him to develop the club over the coming seasons"."Neither Jonny or his team have any connection to Jason or [his] Bond Group [firm] of any kind," the statement continued."Sales agreements will be completed today (Friday) and will include a generous payment from the buyer to pay staff and players while the National League approval process is completed. We are grateful for this gesture of goodwill when the club and its stakeholders needed it most."A further update will be given later on Friday, the statement added. The announcement of Cato's identity comes a day after former co-chairman Rod Taylor said he was "fearful" for the club's existence, with June's payroll only partially paid after a turbulent and the former board of directors had threatened to put the club into administration at the beginning of July if a deal to sell the Shrimps did not go then sacked the board in response but brought them back days later in order to help finalise a deal to sell the club to Panjab that deal did not go through, the board resigned from their posts, and former board member James Wakefield told BBC Radio Lancashire on Thursday he was amazed the club was still operating and predicted it could have only days are scheduled to begin their 2025-26 National League campaign against Boston on 9 August.
BBC News
7 days ago
- Business
- BBC News
Ex-Morecambe chair 'fearful for club's existence'
Morecambe's former co-chairman Rod Taylor says he is fearful for the existence of the club as a prolonged takeover Shrimps had looked set to be bought by the Panjab Warriors group when the EFL approved their takeover in the deal still to go through, however, the board of directors threatened to put the club into administration and later resigned, with owner Jason Whittingham then opting to sell the club to a different party in a "last minute deal" which is still to take are scheduled to begin their 2025-26 National League campaign against Boston on 9 August but an embattled summer off the field, which has included incomplete wage payments from June's payroll to staff and the remainder of the playing and coaching staff, has overshadowed pre-season preparations."It's extremely serious. It's critical. We're right in the last throes of this now. You just don't know where to go next," Taylor told BBC Radio Lancashire."We're doing all we can as ex-officials, we can't play any part beyond that. We're right in the throes of we may not have a club this time next week."I think it could be as serious as that. There has to be movement rapidly. "I'm fearful. As we stand today I am fearful for the existence of the club. I hope and pray that he [Whittingham] sees sense and gets the papers signed."BBC Radio Lancashire have contacted Whittingham for comment. Whittingham previously said terms had been agreed with Panjab Warriors with a deal set to be formally completed shortly club's board of directors had stepped down with the deal still to be concluded, having previously tried to put the club into administration in early July when the deal dragged Panjab Warriors looking set to take over Whittingham last week said an unidentified buyer had worked to pay outstanding wages as well as agreeing contracts pending the approval of a sale by the National identity of the new party is unknown, and in a statement issued by Whittingham on Thursday, he said that the club were looking to complete a deal "as quickly as possible"."We can confirm that a takeover deal is near completion with a consortium of individuals headed by people with genuine football experience, to acquire Bond Group's interest in the club," the statement said., external"We can also confirm that despite speculation on the buyers' identity, nobody from the consortium has yet been named publicly and recent guesses are not accurate."The buyers have funds available to bring payments for the club up to date and we are working to conclude the transaction as quickly as possible." Former board member James Wakefield said he was surprised the club was still in existence and, when asked by BBC Radio Lancashire how long the Shrimps could continue operating, he theorised that they could have just "days" left."I'm amazed it's still alive today. We as a board decided that the only responsible course of action was to put the club into administration and that was on 1 July, 16 days ago," Wakefield said earlier on Thursday, before the latest club statement."It's still dragging on. It's days. It's literally days. There will be payroll again quite soon and the club's not meeting its obligations at the moment, the most important of which is staff wages."But I'm amazed it's still alive quite frankly."
The Irish Sun
7 days ago
- Business
- The Irish Sun
Calamity club once sponsored by Tyson Fury face being kicked out of league within days as local food bank steps in
MORECAMBE football club are days away from calamity amid their "soul-destroying" financial woes and collapsing takeover deals. The Shrimps face the possibility of being banned from playing their first National League game of the season, which is just three weeks away, after Advertisement 3 The future of Morecambe FC has been plunged into uncertainty Credit: Rex Morecambe are owned by Jason Wittingham's Bong Group Investments, but have been up for sale since 2022. Financial issues in that time has seen the club slapped with transfer embargoes and impacted on-field performances with Morecambe relegated twice in the last three years. Now players and staff are seeing their livelihoods impacted as the club have been unable to pay wages. The club's playing staff were paid just a third of their wages in June and will be able to leave Morecambe for free if they are not paid their next paycheck by Friday. Advertisement READ MORE IN FOOTBALL Financial issues have also meant that school proms, weddings and wakes that were scheduled to be held at their ground, the Mazuma Stadium, have been cancelled. Fans have even tried to raise funds for the players themselves, generating £362 in a whip-round that was politely refused by the team. Lifelong fan David Freer, 62, has described the whole ordeal as "soul-destroying" to the Guardian. Advertisement Most read in Football 3 Morecambe fan groups have voiced their concerns with the club's situation Credit: Rex Fans have been The Bond Group had previously announced their intentions to sell the club to London-based investment firm Panjab Warriors - who have since loaned £6million to Morecambe. However, Panjab Warriors have since accused Bond Group of "deliberately jeopardising the very existence of the club in a last-ditch effort to alter terms that were already agreed". Advertisement And things came to a head when Whittingham announced last week that he is selling the club to a mystery third party and not the Panjab Warriors - who had already been ratified by the EFL. SunSport have contacted Morecambe and the National League for comment. Labour MP for Morecambe and Lunesdale, Lizzi Collinge, suggested that Whittingham is using the club to leverage his own finances. Using parliamentary privilege in the Commons last week, she said: "I suspect that Jason Whittingham has built a house of cards, and it is now falling down around his ears. Advertisement 'Morecambe FC is being held hostage, and it breaks my heart … The likes of Jason Whittingham should never have been allowed to buy a football club.' Panjab Warriors have also announced that is is considering legal action against the Bond Group for possible "misrepresentation and bad faith dealing'. The club is on the brink of collapse and could be the latest to fall victim to the gaping holes in rules surrounding football governance. It all comes just four years after Morecambe were playing at the highest level they ever have in their history in League One. Advertisement The Shrimps have even had sponsorship from local fan Tyson Fury in the past. Former boxing heavyweight champion Fury has even floated the idea of purchasing the club himself in the past. Speaking to TalkSPORT in 2022, he said: "I'm thinking about buying Morecambe Football Club, they're in League One at the moment. "So I was thinking I invest X amount of millions in them. Basically throw it at them and keep them going up. Advertisement "I've been offered to buy Morecambe Football Club. I own all the training facilities anyway and the training gym. So who knows? "You might be looking at a football club owner." 3 Tyson Fury has worked with his local club before Credit: Morecambe FC
Scottish Sun
7 days ago
- Business
- Scottish Sun
Calamity club once sponsored by Tyson Fury face being kicked out of league within days as local food bank steps in
A local Indian restaurant has had to help out by feeding players for free MORE PROBLEMS Calamity club once sponsored by Tyson Fury face being kicked out of league within days as local food bank steps in Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MORECAMBE football club are days away from calamity amid their "soul-destroying" financial woes and collapsing takeover deals. The Shrimps face the possibility of being banned from playing their first National League game of the season, which is just three weeks away, after their owners have been unable to pay staff and players. Sign up for Scottish Sun newsletter Sign up 3 The future of Morecambe FC has been plunged into uncertainty Credit: Rex Morecambe are owned by Jason Wittingham's Bong Group Investments, but have been up for sale since 2022. Financial issues in that time has seen the club slapped with transfer embargoes and impacted on-field performances with Morecambe relegated twice in the last three years. Now players and staff are seeing their livelihoods impacted as the club have been unable to pay wages. The club's playing staff were paid just a third of their wages in June and will be able to leave Morecambe for free if they are not paid their next paycheck by Friday. READ MORE IN FOOTBALL BOAT OF BOTHER Harry Redknapp left stunned after 50ft boat crashes into garden of mansion Financial issues have also meant that school proms, weddings and wakes that were scheduled to be held at their ground, the Mazuma Stadium, have been cancelled. The dire financial straits have seen a local food bank offer to help employees struggling to make ends meet, while an Indian restaurant fed players for free earlier this month, according to the Guardian. Fans have even tried to raise funds for the players themselves, generating £362 in a whip-round that was politely refused by the team. Lifelong fan David Freer, 62, has described the whole ordeal as "soul-destroying" to the Guardian. 3 Morecambe fan groups have voiced their concerns with the club's situation Credit: Rex Fans have been left in the dark as a public war has played out between the club's current owners, their prospective buyers and the board of directors. The Bond Group had previously announced their intentions to sell the club to London-based investment firm Panjab Warriors - who have since loaned £6million to Morecambe. However, Panjab Warriors have since accused Bond Group of "deliberately jeopardising the very existence of the club in a last-ditch effort to alter terms that were already agreed". And things came to a head when Whittingham announced last week that he is selling the club to a mystery third party and not the Panjab Warriors - who had already been ratified by the EFL. SunSport have contacted Morecambe and the National League for comment. Labour MP for Morecambe and Lunesdale, Lizzi Collinge, suggested that Whittingham is using the club to leverage his own finances. Using parliamentary privilege in the Commons last week, she said: "I suspect that Jason Whittingham has built a house of cards, and it is now falling down around his ears. 'Morecambe FC is being held hostage, and it breaks my heart … The likes of Jason Whittingham should never have been allowed to buy a football club.' Panjab Warriors have also announced that is is considering legal action against the Bond Group for possible "misrepresentation and bad faith dealing'. The club is on the brink of collapse and could be the latest to fall victim to the gaping holes in rules surrounding football governance. It all comes just four years after Morecambe were playing at the highest level they ever have in their history in League One. The Shrimps have even had sponsorship from local fan Tyson Fury in the past. Former boxing heavyweight champion Fury has even floated the idea of purchasing the club himself in the past. Speaking to TalkSPORT in 2022, he said: "I'm thinking about buying Morecambe Football Club, they're in League One at the moment. "So I was thinking I invest X amount of millions in them. Basically throw it at them and keep them going up. "I've been offered to buy Morecambe Football Club. I own all the training facilities anyway and the training gym. So who knows? "You might be looking at a football club owner."
Yahoo
09-07-2025
- Business
- Yahoo
Morecambe owner agrees to 'last-minute' takeover
Morecambe will begin their 2025-26 National League campaign against Boston on 9 August [Getty Images] Morecambe's owner says a deal to sell the National League club has been agreed after a "last-minute bid" came in. Shrimps owner Jason Whittingham had previously said terms had been agreed with a Panjab Warriors consortium with a deal set to be formally completed on Monday. Advertisement The club's board of directors had stepped down with the deal still to be concluded. But in a statement on Wednesday, Whittingham said an unidentified buyer had worked over the past 24 hours to pay outstanding wages as well as agreeing contracts pending the approval of a sale by the National League. "He has already started preparing documentation for the National League to give their approval for the sale and confirmed his financial support for the club this coming season, provided his takeover is approved," the statement continued. "This buyer will make their own statement shortly to introduce themselves and set out their plans for the club over the coming seasons." Advertisement Further announcements are set to follow on Thursday, the statement concluded. The announcement of the latest bidder comes after a turbulent few weeks for the club before the 2025-26 National League season, following their relegation from the English Football League last term. Morecambe's MP Lizzi Collinge said last week Whittingham's Bond Group should "get on with" the deal to sell the 105-year-old club after the Shrimps' board of directors threatened to put the club into administration if a sale was not completed. Whittingham later announced he had "started the process to dismiss the board of directors", while denying claims he was stalling on the deal. Advertisement The board later returned when a deal to sell the club to Panjab Warriors looked set to take place. That deal had been approved by the EFL in June with the group previously saying they had already paid £3.8m to Whittingham's Bond Group, alongside a separate payment of £630,000 to clear outstanding loans against the club. The group also claimed they had also loaned a further £1.7m to the club over the past 14 months to "ensure its ongoing survival". In a further statement issued on Tuesday, Panjab Warriors claimed the takeover was "seconds away from completion" despite the latest delay.
