Morecambe: 20-year-old entrepreneur Sarbjot Johal in process of buying club
- Published
Morecambe have won four of their past five matches and are 19th in League One and two points outside the relegation places
Morecambe say they are in the process of being taken over by 20-year-old businessman Sarbjot Johal.
The Shrimps, whose owners Bond Group Investments put the club up for sale in September, are 19th in League One.
Co-chairman Graham Howse said Johal's takeover remains reliant on him passing the EFL's owners and directors' test.
It comes after world heavyweight boxing champion Tyson Fury, who lives in the town, said he had been offered the chance to buy the club in October.
Howse that Johal's purchase had not "progressed as quickly as we all would have liked" but "exciting times are ahead both on and off the pitch".
"Sarbjot, through his company Sarb Capital, has recently purchased equity in the club, injecting more than useful income into us," Howse said.
"I am, along with Sarbjot, keen that the process should now move on at pace to come to a positive conclusion."
The Lancashire side were put up for sale by owners Bond Group Investments, with Jason Whittingham and Colin Goldring stepping down from the board.
Whittingham and Goldring also owned rugby union side Worcester Warriors, who went into administration in September and were subsequently banned from playing in the Premiership this season and relegated to the second tier.
Morecambe are in just their second-ever season in League One and have won four of their past five games.