Morecambe CEO explains latest share development

A notice at Companies House revealed that £178,000 worth of shares had been bought in the club without any indication as to who had purchased them.

Coming as the club enters a fourth month since being prepared for sale, there had been speculation a new owner could be close to completing a takeover.

Issuing an update to supporters on Friday, Sadler explained what had happened.

He told the club website: “For clarity, these have been purchased by the ownership, Bond Group, as an injection relating to the ongoing and normal operation of the business.

“For us here at the club, the objective remains the same, which is to maximise what we can within our resource and continue to work as best as we possibly can towards the ongoing plan to become a sustainable and competitive League One club.”