
Morecambe FC have addressed the reasons why the club haven’t made any further signings in the January transfer window.
In a statement, the board of directors said they’re currently prevented from making further player signings, due to uncertainty as to whether the owner of the club could guarantee that the club would be financially sustained until the end of the season.
Taking to social media, director James Wakefield expressed his extreme frustration at the latest development.
On X he said: ‘’ There’s no sugarcoating this, it’s a proper punch in the guts.’’
The official statement reads: ‘’Morecambe Football Club is currently prevented from making further signings in the January transfer window, despite recent cup successes and capital injections, because written assurances from Bond Group that the club will be funded to the end of the season have not been supported by sufficient proof of source and sufficiency of funding.
‘’The club must demonstrate it has adequate funds to operate until the end of May, its fiscal year-end. Only once these long-standing cash requirements are met can recruitment be considered. Bond Group had assured the club that it would meet these requirements and support additional player recruitment in January, but when proof of funding was requested, it failed to provide it.
‘’Bond Group has informed the club today that it is working on sourcing additional funds, but there is no guarantee that these will land in time to impact the rest of the transfer window.
‘’The board wishes to place on record that once again the club has been let down by its owner, undermining the efforts and hard work of the manager, staff, and directors at this critical time.
‘’The board of directors is carefully evaluating the situation and will make a further statement in due course.’’
It was understood that agreements had been put in place to bring in a further two loan signings to strengthen the Shrimps’ squad, and a potential new signing was seen training on the pitch with the matchday squad ahead of Morecambe’s fixture with Crewe last weekend.
Speaking on Saturday, manager Derek Adams said: ‘’I’ve got two agreements in place with two clubs for two players.
‘’Unfortunately they weren’t able to happen this week, we’ve agreed with the player, agreed with the club, but it’s unfortunate they haven’t been able to go through this week.’’
It had been announced back in December, via an official statement on the club’s website, that a prospective buyer of the club, London businessman Kuljeet Singh Momi, had provided funds, specifically to be spent in the January transfer window.
"We have committed to provide essential funds in the form of equity to assist the manager, Derek Adams, to strengthen the playing squad in the upcoming January transfer window,’’ said Mr Momi in the statement on December 1.
"Again, our commitment is to help the club climb the League 2 table and maintain its coveted EFL status."
Morecambe are also in line for a significant financial boost due to the club’s FA Cup run, which saw the Shrimps play against Premier League giants Chelsea in the third round, in front of almost 40,000 fans at Stamford Bridge.
To date, the club have recruited two free agents in the window so far, in the form of midfielder Callum Cooke, and goalkeeper Ryan Schofield.
Beyond Radio has contacted Jason Whittingham of Bond Group, for comment.
The transfer window, the period where clubs can sign contracted players permanently or on loan from another club, closes at 11pm on Monday, February 3.
Morecambe FC has been up for sale since September 2022.
During this time, the Shrimps have been through the mill, including reporting a £1.2m loss in its last accounts, suffering a three-point deduction for a financial rules breach last season, a further suspended two-point deduction in December 2024 for failing to report to the EFL (English Football League) the non-payment of amounts owed to HMRC, were under a transfer embargo last year due to a VAT issue and were twice late paying wages to staff and players.
The club is currently second from bottom of the Football League, and faces a battle to avoid relegation back to non-league football for the first time since 2007.
Disgruntled fans have held protests at two League Two games over the past year, including marches through the streets of Morecambe, showing their anger at the delay to the sale, as it has left the club in a financial limbo with little investment coming in.