Potential buyer of Morecambe Football Club is revealed

The identity of the man in talks to buy Morecambe Football Club has been revealed.

Kuljeet Singh Momi said he is "moving forward with a proposed acquisition of Morecambe Football Club".

The club has been up for sale since September 2022, with many fans becoming frustrated at the lack of progress on a deal.

Supporters held a protest over the long-running saga at the recent Morecambe v Port Vale League 2 game and there have been long-running calls for a sale to be completed.

Owner Jason Whittingham said he agreed terms on a sale in the summer, but the English Football League (EFL) has yet to approve any deal.

The identity of the potential buyer had not been disclosed officially until a statement was released on the Morecambe FC website on Saturday following the Shrimps' 1-0 win over Bradford City in the FA Cup second round.

"Myself and my colleagues have been contributing to the club's working capital since October 2023," said Mr Singh, in the statement.

"These funds have been provided as interest-free loans to enable the football club to continue to trade properly.

"Our wholehearted effort to acquire the club did not start until July 2024. In addition to these loans, we have purchased equity in the company in an effort to demonstrate our ongoing commitment to this unique football club and the community it serves.

"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.

"Again, our commitment is to help the club climb the League 2 table and maintain its coveted EFL status."

Mr Singh also said "the current owners, Bond Group Investments, have agreed to submit proposals for an additional two directors to join the board of directors of Morecambe FC to represent our investment".

"The genuine hope is that this will strengthen the board of directors and help to unite all parties with the best interests of the club as the driving force," he said.

Mr Singh also revealed his vision for the future of the club.

He said: "As we move forward with the proposed acquisition of Morecambe Football Club, we are committed to ensuring that the club thrives both on and off the field. Our vision reflects our deep respect for the club’s history, its supporters, and its integral role within the local community.

"We aim to work closely with the Morecambe FC community to improve the club’s facilities, creating a welcoming and enjoyable matchday experience for all supporters.

"Recognising the challenges faced in recent years, we will implement a robust financial investment plan to stabilise the club and lay the groundwork for long-term success. Our priority is to restore a sense of security and confidence to Morecambe FC, ensuring a sustainable future for players, staff, and fans alike.

"Our goal is to develop and oversee a strategic plan that secures the club’s position at the heart of the local community. By prioritising football and fostering a deeper connection between the club and its supporters, we aim to create a legacy that will inspire future generations of Morecambe fans.

"We are passionate about building a brighter future for Morecambe Football Club, rooted in collaboration, stability, and a shared love for the game. Together, we can take Morecambe FC to new heights while preserving its unique identity and values.

Mr Singh also said, in the statement, that he has "no current business associations" with Sarbjot Johal, whose Sarb Capital group was previously linked with a proposed takeover of Morecambe FC.

He said he had previously supported Mr Johal "by providing the requested funds to help launch" projects but decided to halt further funding due to a "lack of transparency". 

Mr Singh said that in August 2024 there had been "immediate and final termination of all ties with Mr Johal".

A statement from Morecambe Football Club said they "recognise the financial support from Kuljeet and his associates and, in particular, we appreciate the availability of funds for Derek Adams to strengthen the playing squad in the upcoming transfer window and enable the opportunity to plan that window with confidence".

Morecambe manager Derek Adams is pictured below.

They also said that a "constructive scheduled meeting" had taken place with Bond Group Investments and Mr Kuljeet Singh and Associates earlier in the week.

Earlier this week, journalist and author Martin Calladine, writing in his blog, 'Ugly Game', named Kuljeet Singh Momi as the person looking to acquire control of Morecambe Football Club.

In two lengthy posts, it was revealed that Mr Singh and Mr Johal had been co-owners or co-directors of numerous companies together in the last two years.

Documents on the Companies House website show that Mr Singh is currently an active director at nine different companies, none of whom list Sarbjot Johal as a current active director.

Until earlier this year, he was a director along with Mr Johal in a further five companies, including Sarb Capital. Mr Singh resigned from all five of these companies over a two day period in July, leaving Mr Johal as the sole director of four of them. The fifth company he resigned from had already seen Mr Johal himself resign earlier in the year. 

Of the companies that Mr Singh is currently an active director of, two - Panjab Warriors Sports Limited and Petronet Global Solutions Limited - were incorporated in July 2024.

Panjab Warriors Sports states its nature of business to be 'buying and selling of own real estate' and 'activities of sport clubs', while Petronet Global Solutions lists their nature of business as 'management consultancy activities'.

In response to the statement, The Shrimps Trust, the official body representing Morecambe fans, called for Mr Singh to meet with them to discuss his intentions.

"The Shrimps Trust acknowledge the statement yesterday by Mr Kuljeet Singh Momi disassociating himself from Mr Sarbjot Johal or any of his businesses, and setting out a vision for Morecambe Football Club, should he and his associates be successful in acquiring the football club," said a trust spokesperson.

‘’In order to be successful, Mr Momi will need to satisfy the requirements of The Owners' and Directors' Test (ODT), and evidence source and sufficiency of funds to acquire and support the football club for a minimum of two years. We would expect this information to be readily available from a serious and credible buyer, and a conclusion of the sale progress should be swift.

‘’Over the last week, the Shrimps Trust have tried to make contact with Mr Momi and have been unsuccessful in receiving a response. The vision of the trust is to preserve the identity and values of Morecambe Football Club and hold its custodians to account.

‘’If Mr Momi and his associates are serious buyers, intending to seek a deeper connection between the club and its supporters, this should start immediately with dialogue with Shrimps Trust to discuss their long-term vision for the club and the current purchase process.’’

Bond Group Investments has owned Morecambe FC since 2018.

Prior to that, Shrimps staff experienced delays in payment of wages several times during the 2016/17 season during an ownership crisis which enveloped the club.

THE TAKEOVER PROCESS

The English Football League (EFL) has to approve any prospective new owner of any club.

In any potential ‘takeover’ or acquisition of control as it is formally known, it is the responsibility of the club in question to inform the EFL of a proposed change.

Once the league has been made aware, the process of making the necessary checks against the requirements of EFL regulations will then begin. The regulations ultimately set the criteria regarding who is permitted to own a club - or exercise control over it - and whether they meet the requirements to do so.

Every acquisition process is different, but there are three key parts in each case.

First, there is the Owners’ and Directors’ Test, an objective test where prospective owners and directors have to evidence the fact they are not subject to any disqualifying events. The disqualifying events are clear and set out in the regulations.

Second, the club and prospective owners must submit Future Financial Information (FFI) to demonstrate how the club will operate over the period ahead, from which any additional cash requirements to support the running of the club can be identified.

Finally, any potential owner must demonstrate to the EFL the ultimate Source and Sufficiency of Funding which will underpin the purchase and future operations. Or in simple terms, how much money they have and where it has come from.

Only once all regulations are satisfied will the EFL issue clearance for any change of control.

Read more: Timeline: How the Morecambe FC sale saga has dragged on for two years - Beyond Radio