Morecambe owner makes budget claim for 2023/24

Bond Group Investments, who put the club up for sale in September and have been trying to sell it to Sarbjot Johal in the meantime, made the announcement on Sunday evening.

It was claimed a so-called ‘support package’ had been put together for the Shrimps, who have returned to the bottom tier after two seasons in League One.

The statement added: “The budget will have a significant uplift compared to our promotion year in 2020/21.

“This budget is a statement of the Club’s intent to have a competitive and successful 2023/24 season in League Two.

“Derek and his recruitment team have been notified of this budget and are already working hard to assemble the playing squad.

“The Club will announce any new signings through its official channels as normal and we wish everyone at the Club, and the community of Morecambe, the very best for the season ahead.”

Speaking fewer than 48 hours after relegation was confirmed, Morecambe boss Derek Adams said he had been awaiting confirmation on the budget for next season: hence the decision to release all 14 out-of-contract players.

It was, however, anticipated that Morecambe would have one of the lowest budgets – if not the lowest – in League Two, especially given the lengthy wait for a resolution to Johal’s proposed takeover.

The latest development comes only a week-and-a-half after the Shrimps’ Trust fans’ meeting, which heard how the club was planning to operate with a break-even budget in 2023/24.

With that in mind, it’s unclear as to the source of the funding given the Shrimps’ well-publicised off-field problems in recent months.

Financial issues have dogged the club this year with wages paid late in March and Johal twice providing a cash injection.

A fortnight ago, the board published a statement in which it revealed a loss in the region of £750,000 to £800,000 would be reported in the club accounts.

Sunday’s statement concluded by echoing a view mentioned at the Trust meeting concerning the need to purchase season tickets.

It added: “We would continue to encourage supporters to buy their season tickets and support the team ahead of the new campaign.”