Morecambe FC closing in on much-needed investment

Morecambe fans asked questions of the club's board and management at a fans' forum tonight.
Morecambe fans asked questions of the club's board and management at a fans' forum tonight.

Morecambe FC are hoping to have a new investor on board in the next couple of months.

Addressing a fans’ forum at the Globe Arena, chairman Peter McGuigan revealed the club are in talks about securing a much-needed cash boost at the Globe Arena.

Mr McGuigan told supporters that postponements and the FA Cup exit had cost £250,000 this season as they battle to balance the books.

He did however give an indication that things may be looking up on the financial side sooner rather than later.

The chairman said: “We need investment or investors to take the club to the next level.

“We’re talking to one potential investor and have two or three others waiting on the sidelines.

“We might be able to go public next week and we’re confident we can get it done in the next two months.

“We’ll keep everyone posted as best we can but some of it will be private and confidential.”

The Shrimps were without a home game on a Saturday between the end of October and the middle of January something which has hit manager Jim Bentley’s ability to bring in players since the turn of the year.

Mr McGuigan said: “The difference between a Saturday and a Tuesday is that you get around 50 per cent of what you get on a Saturday.

“A big blow was the FA Cup replay that we lost (4-2 to Dagenham & Redbridge) and that cost us around £100,000.

“Then we had two matches postponed due the storms and lost hospitality money on the power cuts. With the Portsmouth game that all cost us £120,000.

“When you sit down on January 1 that’s £250,000 we haven’t got.

“That’s a big, big number for a club of our size.”

McGuigan is however confident that with the aid of a new bumper TV deal for the Premier League, which will see money filter down the Football League, that the club can break even in the next couple of years.

He said: “It’s very, very tough for Morecambe FC to break even on the football side.

“We haven’t got a final number on the new TV deal but it will be a significant increase.

“In two or three years we’re confident we can almost break even with a crowd just under 2,000.”

Mr McGuigan also said that another one of the club’s big deals, with Shanghai Clever in China, is still on the table despite a lack of visible movement since the initial announcement at the end of 2014.

He said: “China has had a dip and we’re feeling the affect of that.

“I’m sure people have read about the Manchester City deal with China and that took three years of David Cameron and George Osborne talking to the Chinese Premier and Vice-Premier.

“We’ve been at it 18 months and I believe one day it will still happen.

“We don’t need any money from there to be financially stable.

“It’s investment in the bricks and mortar that will help us do that.”