Business tycoon Sarbjot Johal is set to complete a takeover at Morecambe, delivering a knockout blow to Tyson Fury‘s interest in the League One side.
Brit Asia TV has learned that wealthy investment mogul Johal is in advanced talks over a buyout of the Lancashire club.
Morecambe is valued in the region of £20million, but it is unclear what price Johal has agreed to pay.
An agreement between Johal and current majority shareholders Bond Investments Ltd – owned by businessmen duo Colin Goldring and Jason Whittingham – is in place with the deal now just awaiting EFL approval.
At 20, Johal is in line to become the youngest owner of an English football club.
Morecambe, who are currently forth from bottom in the third tier, have been up for sale since the summer amid concerns from the EFL over Goldring and Whittingham’s ownership.
But the transaction is set to safeguard the club’s long-term future, news that will arrive as a huge relief to Morecambe’s supporters.
The Sikh entrepreneur’s vast wealth derives primarily from the soft drinks industry and his aforementioned investment firm which he is sole owner of.
The League One club were formally put on the market in September and uncertainty has engulfed the club ever since.
Whittingham and Goldring’s credentials have been called into question in recent months after rugby union outfit Worcester Warriors were wound up by the HMRC under the pair’s ownership – though Morecambe insist the two clubs have no connections beyond the owners.
The pair have played a lead role in choosing a suitable owner for Morecambe and have been at the forefront of talks with Johal.
