Majority Shareholding of the Club Sold

[Duffman]

https://www.morecambefc.com/news/2018/may/sale-of-the-majority-shareholding-in-morecambe-club-to-bond-group-investments-limited/

The Board of Morecambe Football Club is pleased to confirm the sale of the majority shareholding in the Club to Bond Group Investments Limited.

Chairman Peter McGuigan commented: "We are very pleased to confirm this transaction and look forward to a period of sustained stability and growth within the Club. "On behalf of the Board I would like to thank everyone connected to the Club for their patience and outstanding contribution during a difficult period for all concerned over the last few months.'

According to Companies House, the nature of business of Bond Group Investments is Buying and selling of own real estate".

Updates:

• One of the directors of Bond Group Investments is a director of Mayfair Finance, the company which loaned money to the club last month

[P/T Indie]

Why announce it this week?

and why would you buy the club this week if we went down you could buy it for half the price next week.

[KenH]

It was only formed in January 2018 so is a new company with no history.

[NPL Daze]

Here we go again........

[Gone_Shrimping]

It was only formed in January 2018 so is a new company with no history.

Yes a bit like G50 Holdings

[marky No.1]

It was only formed in January 2018 so is a new company with no history.

Closely connected to Mayfair Finance

[P/T Indie]

Can someone tell me what this has got to do with PMG and why he is quoted (I still don't understand what his role is), surely it's G50 that have sold and it should be them been quoted.

[KenH]

Can someone tell me what this has got to do with PMG and why he is quoted (I still don't understand what his role is), surely it's G50 that have sold and it should be them been quoted.

It's the "Board" that has made the announcement and PMG is the chairman of the board.

[Christies Child]

Not sure how to react to this news other than to say that whoever the new major shareholder is /are then it is not my preferred option having touted for some time that a local consortium made up of current and former Directors was in my eyes the ideal solution.

However it was probably never an option.

I'm concerned that a finance company are now effectively in charge and will probably be calling the shots.

What happens if this finance company go belly up?

However let's assume that the current Board see this as a good deal and that we can move forward to a more secure future, but i do have concerns and i suspect that I'm not alone....

[Posh]

Can someone tell me what this has got to do with PMG and why he is quoted (I still don't understand what his role is), surely it's G50 that have sold and it should be them been quoted.

It's the "Board" that has made the announcement and PMG is the chairman of the board.

Which is confusing in itself.

The architect of the worst deal in our history and who created the unmitigated disaster we find ourselves in is the Chairman of our club.

[John L]

I'm concerned at the lack of information here. Who are these guys and what are their intentions for our club?

[KenH]

and why would you buy the club this week if we went down you could buy it for half the price next week.

Given it's ongoing huge losses, huge debts, and desperate need for more money to improve the squad and facilities, realistically it's worth nothing. So half price next week, of its current value of nothing, is still nothing.

[marky No.1]

Thing is, regardless of what they might have bought the shares for, have they got the cash to keep the Club going or are they just going to sell off any assets that are left for housing or extensions of caravan parks.
The fact that PMG took a loan out from a connected Company recently on behalf of the Football Club makes me twitch - does this mean he has 'gone'

Unless an informative statement of intent is made, then I cant see this is for football reasons - we will have to wait and see

[fulwoodshrimp]

I think Peter McGuigan owes us a detailed statement about his actions. It looks like he is continuing to sell us down the river or do I misunderstand what has happened and continues to happen? It smacks a little of Diego all over again!!

[John L]

I think Peter McGuigan owes us a detailed statement about his actions. It looks like he is continuing to sell us down the river or do I misunderstand what has happened and continues to happen? It smacks a little of Diego all over again!!

I agree, but I suppose we'll have to just nibble away at this titbit for now...

Chairman Peter McGuigan commented: "We are very pleased to confirm this transaction and look forward to a period of sustained stability and growth within the Club. "

[BerlinWaller]

Does this mean the current BoD will stay as they are? No mention of any form of takeover or new people running the club. Is it a short term deal to get rid of G50?

[Christies Child]

I agree with the need for a more detailed explanation about this transaction and would welcome a Director who we trust always has the best interests at heart of our club to tell us more about the deal and is he confident that finally this saga can be put to bed?

I hope that I speak for many when I say that we can't undergo any more turmoil regarding the ownership.

[KenH]

I think Peter McGuigan owes us a detailed statement about his actions. It looks like he is continuing to sell us down the river or do I misunderstand what has happened and continues to happen? It smacks a little of Diego all over again!!

Unfortunately, this time around, we don't have Bay Radio trying to extract explanations/information from PMG etc. The same lack of proper announcements happened throughout the Diego fiasco, and it was only the perseverance of Bay Radio that led to proper information/announcements being made when pressed by their researchers/reporters. Sadly, it's the Morecambe Board's way to keep treat their supporters as mushrooms, i.e. keep them in the dark and feed them manure.

[Duffman]

I think Peter McGuigan owes us a detailed statement about his actions. It looks like he is continuing to sell us down the river or do I misunderstand what has happened and continues to happen? It smacks a little of Diego all over again!!

Unfortunately, this time around, we don't have Bay Radio trying to extract explanations/information from PMG etc. The same lack of proper announcements happened throughout the Diego fiasco, and it was only the perseverance of Bay Radio that led to proper information/announcements being made when pressed by their researchers/reporters. Sadly, it's the Morecambe Board's way to keep treat their supporters as mushrooms, i.e. keep them in the dark and feed them manure.

Tim Padfield at Radio Lancashire did an excellent job last year also. It wouldn't surprise me if he's on the story again.

[P/T Indie]

I tweeted radio lancs and they said they were trying to contact people at the club and they didn't know anymore than what was in the statement.

When will the club learn if you don't communicate properly you just open yourself up for.more questions and gossip.

[BerlinWaller]

I tweeted radio lancs and they said they were trying to contact people at the club and they didn't know anymore than what was in the statement.

When will the club learn if you don't communicate properly you just open yourself up for.more questions and gossip.

It is easier to just dismiss them as "keyboard Warriors"

[Posh]

I tweeted radio lancs and they said they were trying to contact people at the club and they didn't know anymore than what was in the statement.

When will the club learn if you don't communicate properly you just open yourself up for.more questions and gossip.

It is easier to just dismiss them as "keyboard Warriors"

Come on! Be positive!

It's not like the board have sold the club to a bunch shysters in the past or been ripped off on a sale or entertained nut jobs trying to buy the club. Errr...

I seem to recall the 'keyboard warriors' raising the red flag about Diego Lemos, Joseph Cala, Peter Harrison and others well before everyone else, only to be told it was above our pay grade and to be positive.

[Christies Child]

Radio Lancashire Sport has interviewed PMcG this lunchtime who said that the club had been in discussions with the latest majority shareholders since November / December of last year.

According to PMcG they had wanted to get involved with a football club and had had discussions with at least 2 other clubs.

A full interview will be on Radio Lancashire Sport 104.5fm at 6pm tonight.

[marky No.1]

they had wanted to get involved with a football club and had had discussions with at least 2 other clubs.

That just happened to have development potential, no doubt

[BerlinWaller]

I tweeted radio lancs and they said they were trying to contact people at the club and they didn't know anymore than what was in the statement.

When will the club learn if you don't communicate properly you just open yourself up for.more questions and gossip.

It is easier to just dismiss them as "keyboard Warriors"

Come on! Be positive!

It's not like the board have sold the club to a bunch shysters in the past or been ripped off on a sale or entertained nut jobs trying to buy the club. Errr...

I seem to recall the 'keyboard warriors' raising the red flag about Diego Lemos, Joseph Cala, Peter Harrison and others well before everyone else, only to be told it was above our pay grade and to be positive.

Talking of Cala, he tweeted that he was on an SOS mission back to England before the announcement was made this morning.