Morecambe FC has received a suspended three-point deduction after the club’s wages were paid late last season.
Related stories:
Morecambe FC player and staff wages ‘may be delayed’ says owner
Morecambe FC staff and players finally paid overdue wages
The penalty has been suspended until June 30, 2024 after the Shrimps admitted a breach of EFL (English Football League) Regulations for failing to pay its player wages on or around March 28, 2023.
The wage bill was ultimately met three days later, following the purchase of shares for an undisclosed six figure sum by prospective new owners, Sarb Capital.
In addition to the points deduction, and as part of what is known as an ‘Agreed Decision’, Morecambe’s owner is also required to deposit an amount equal to 125% of the forecast monthly wage bill - for all staff across the football club - in a designated account, which may be called upon should there be any future delays in processing wage payments in future months.
Failure to do this, or of the wage bill is met last again between now and the end of June next year, would result in the three-point penalty sanction being enforced.
In a statement the EFL said: ‘’Morecambe FC has received a three-point deduction to be suspended until 30 June 2024 after admitting a breach of EFL Regulations for failing to pay its player wages on or around 28 March 2023.
‘’The Club’s ultimate beneficial owner will also be required to deposit an amount equal to 125% of the forecast monthly wage bill - for all staff across the football club- in a designated Club account, which may be called upon by the Club should there be any future delays in processing wage payments.
‘’The suspended sanction will take effect if the payment is not made by the owners of the Club to the Club Deposit Account as per the terms of with the Agreed Decision or there is any failure to pay its players on time until 30 June 2024.
‘’The sanction was imposed in accordance with the terms of an ‘Agreed Decision’ which has formally been ratified by an Independent Disciplinary Commission Chair as per the requirements of EFL Regulations.
‘’Morecambe FC will also pay the associated costs of ratification of the Agreed Decision.’’
The Shrimps have been officially up for sale since autumn 2022, and the English Football League (EFL) have to approve any prospective new owner of the club.
Bond Group Investments has owned Morecambe FC since 2018, and Jason Whittingham from Bond Group was seen at the Mazuma Mobile Stadium last week, when he watched the Shrimps draw with Notts County.
Back in February, the EFL invited potential new owner, businessman Sarbjot Johal, to provide them with further financial information, in order for them to consider ratifying the takeover.
To date, any takeover remains incomplete.
Man accused of stealing joints of meat at Lancaster Asda by hiding them in his trousers
LISTEN and PHOTOS: Spectacular display of 12,000 poppies unveiled at Lancaster landmark
Eden Project Morecambe boss gives update on early stages of work on new £100m attraction
Lancaster, Morecambe and Carnforth Remembrance services announced
Road closures for pre-Tour de France work announced for Lancaster district
Lancaster rock guitarist braves beard shave for charity
Two arrests made after post office robbery in Lancaster
BBC Philharmonic Orchestra to perform concert for schools at Morecambe Winter Gardens
PHOTOS: Plans go in for major Lancaster regeneration scheme
Lancaster music venue's heartfelt message ahead of final night on New Year's Eve
Morecambe school named among one of England's most improved for attendance
Lancaster hospital nursing boss appointed to University of Cumbria honorary role
Morecambe Football Club placed under another embargo by the National League
£1.5m Lancaster scheme to boost water quality in River Lune is complete
Family pays tribute to Lancaster pensioner who died in road crash
Popular artist's print of Morecambe Bay Academy to be launched at alumni evening
Work set to begin on new Heysham skate park
Light Up Lancaster promises to illuminate city with ‘No Boundaries’
Sadness as Morecambe sports and social club suffers break-in on night of reopening
Man arrested after death of pensioner in Lancaster road crash
