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The National League approved the takeover of Morecambe by the Panjab Warriors.
The club suspension will now be lifted upon receipt of the sales and purchase agreement. However, the transfer embargo will remain until the players, the staff, the creditors and the HMRC have been paid.
A press release from the National League read: “The National League can confirm its acceptance of the takeover of the Morecambe Football Club.
“The National League can confirm that after a meeting of its club compliance and license committee earlier during the day, the club takeover by the consortium known as Panjab Warriors LTD has been approved.
“The National League wishes to welcome new owners and thank all the people involved to help secure the future of the club and reach this point.”
The first match of Morecambe of the National League campaign should be played on August 23 against Altrinchham FC.
The news arrives after an agreement in principle was concluded Thursday between Panjab Warriros and Bond Group for the transfer of the club’s majority shareholding.
Bond Group said in a statement: “We would like to thank all the club staff for their abstention and can only apologize for the stress that this has caused.”
The club said that the final legal documentation was being prepared and that “immediate measures” were taken to inform the main stakeholders, including the National League.
The club said they hoped that the agreement “will open the way to continuous stability and a positive future on and off the field”.
Morecambe fans have carefully welcomed the ad.
The group of fans, The Shrimps Trust, confirmed that a “constructive” meeting took place between the Panjab and Bond, adding: “This represents an important step in the process. Although we were cautious until the necessary approvals have been confirmed, all the parties have verified this information with us, which gives us assurance that a resolution is in sight.”
The shrimps, which were relegated to League two at the end of last season, risk closing due to financial problems and were suspended from the National League in a decision which should be revised on August 20.
Sports investment company Panjab Warriors has tried to go through a takeover this summer.
In July, the owner Jason Whittingham dismissed the board of directors of the day after announcing that they would put the Lancashire club in administration.
The fate of the club drew political attention, Prime Minister Sir Keir Starmer expressing his concern last week and urging everyone involved in “doing the right thing”.
This followed the secretary of culture Lisa Nandy writing to Whittingham, the appeal to sell.
