The co-chairman of Morecambe FC has confirmed that businessman Sarbjot Johal is in the process of buying the club.
Graham Howse, in a statement to fans on Thursday, said that Mr Johal has bought equity in the club and will become owner subject to passing English Football League checks.
Mr Howse (pictured below) said: "It is fair to say the sale process hasn’t progressed as quickly as we all would have liked - that said, my understanding is that exciting times are ahead both on and off the pitch.
"Sarbjot Johal is eager to start the project to take the club on to a new level, subject to satisfactorily navigating the EFL Owners and Directors’ test.
"Sarbjot, through his company Sarb Capital, has recently purchased equity in the club, injecting more than useful income into us.
"I am, along with Sarbjot, keen that the process should now move on at pace to come to a positive conclusion."
Mr Johal has been a guest of the club at a number of the Shrimps' home games recently and there has been speculation for weeks that he is a potential buyer.
He is the founder of Vitanic Holdings Limited, a non-alcoholic beverage company based in Birmingham.
In September, Morecambe FC announced that Jason Whittingham of Bond Group Investments and Colin Goldring were stepping back from their positions on the board of directors, as the club was being prepared to be sold. Bond Group Investments own the club.
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