Shrimps board answer fans' financial questions

Co-chairmen Graham Howse and Rod Taylor, along with fellow board member James Wakefield, were among the panel taking questions from supporters during a fans forum on Thursday evening.

Unsurprisingly, much of the focus was on the club’s financial position and the lack of a sale after being officially put on the market by the owner, Bond Group’s Jason Whittingham, in September 2022.

Sarbjot Johal’s links with Morecambe came to nothing, while Kuljeet Singh Momi confirmed he was looking to buy the club at the end of November.

Asked if the board had confidence in the sale process, Taylor said: “I wouldn’t want to put a timescale on it, there’s been a ‘for sale’ sign for two-and-a-half years.

“It’s extremely tiring and frustrating for everyone who comes here and we share that.

“Do I have confidence? I don’t know. The telling point is the EFL and whether they have all the information they require, so I wouldn’t like to speculate either way.”

Howse added: “It’s gone on far too long, we’ve tried to give them information to get them along the way.

“Sometimes that advice hasn’t been acted upon and there’s been questions raised by the EFL.

“Sarb never got as far as proving his wealth, he never got to the point of providing documents.”

Momi’s statement, confirming his desire to buy Morecambe, came within hours of their FA Cup win over Bradford City and deflected attention away from the club’s progress into round three.

Having told those present at the forum that they advised Momi against making his statement, Morecambe’s board outlined that his investment hasn’t extended to any influence on day-to-day operations.

Wakefield said: “He would like to buy the football club, that’s what he told us.

“It hasn’t brought him any influence. Until he goes through the EFL process, any influence won’t be allowed because he hasn’t got the keys.

“Why is he interested? He said they would like to invest in a football club and that’s what we’ve been told.”

Howse added: “He bought some shares to help us in the transfer window. If he had influence, the status of the shares would have been changed.

“We’ve pointed out and made clear to the EFL there’s no influence. His shareholding is probably less than five per cent, he’s nowhere near a level of control but he still wants to buy the football club.”

As has been pointed out previously, however, any sale remains in limbo until the seller and buyer agree on a fee.

Even then, the prospective purchaser can only get the keys once the EFL gives the green light to a transaction.

Taylor said: “We need to make it perfectly clear it’s not our deal to do.

“We might run it on a day-to-day basis but it’s Jason’s deal, it’s Bond Group’s deal.

“We can only be guided by our thoughts, our judgements on it, and ultimately the EFL’s owners’ and directors’ test may be the telling factor.

“It’s not our deal and that’s fundamental to it.”

Morecambe boss Derek Adams has also voiced his frustration at the club’s financial position, claiming last month that the club has gone from losing £200,000 a year to £800,000 instead.

Asked where that money had gone, Howse said: “We budget for a loss of between £750,000 and £1m each season.

“I’m not sure where Derek gets his figures from, they aren’t from the published accounts.

“I know he had his misgivings on the level of staff in the club because he wanted to spend money on the team, which is understandable.

“We appointed a CEO for the first time, which was required, and we continued with that going into League Two.

“We’re running at a loss, that’s what we expect to see, and that’s agreed with the owner.

“It’s never been as low as £200,000. The only time we made money was Covid because of insurance payouts.”

The charge sheet against Whittingham’s ownership includes the late payment of wages, a points deduction and an EFL embargo.

He also told national radio last June that he hoped to agree terms on – and announce – a sale within 10 days to two weeks.

Nothing has come to fruition since, leading to November’s fans protest at his ownership prior to the game against Port Vale.

Speaking at the time, Shrimps Trust chair Tarnia Elsworth said the ‘Not A Penny More’ (NAPM) approach employed by Blackpool fans against their owners had started to enter discussions among some Morecambe supporters.

She also asked that if there was no movement on a sale within six months, then what other option existed beyond forcing administration so Whittingham had to sell the club?

That scenario, along with the issue of wage payments, was also addressed with Taylor saying: “If Morecambe went into administration this season, that would definitely be non-league football.

“We’ve seen things about not spending any pennies. That would be ultimately damaging to the football club because every penny that comes in is spent within the football club.

“That would exacerbate the current situation we’re in. I’d urge people not to do that and assure them that money isn’t going outside.”

Howse also outlined situations where the board has been waiting for money, adding: “In terms of administration, we as directors look at circumstances that might force us to take that route.

“The points deduction would kill us and I don’t see us coming back from that.

“We’ve seen other clubs who have decided to pay players and not the staff but we decided not to do that – everyone gets paid or no-one gets paid.

“There’s been many times over the past 18 months where we’ve been sat up at night, refreshing the bank account and hoping money has come in.”