Morecambe FC has received a suspended three-point deduction after the club’s wages were paid late last season.
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.