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Just days after appointing a new manager, Morecambe have released a statement about a winding-up petition.
Morecambe Football Club (the “Club”) is aware of stories circulating on social media relating to a winding up petition that has allegedly been filed against the Club last week by Ascot & Ryley LLP, a company owned by two former directors of the Club.
At this moment in time, the Club has not received any papers or other notification of such action and is surprised and disappointed to learn of these developments.
This relates to another legacy debt that the Club was burdened with three years before last year’s takeover by Panjab Warriors and which dates back to August 2022.
The original terms offered to the Club at that time involved a repayment schedule over five years to August 2027, which Ascot & Ryley has been seeking to change in recent months based on a ‘change of control’ clause agreed between the Club’s former board of directors and Ascot & Ryley’s owners.
The existence of such a clause was never disclosed to Panjab Warriors before or during last year’s takeover and the Club’s owners do not believe that unilaterally seeking to enforce it in this way is in the best interests of the Club or its true and loyal supporters.
Whilst the Club disputes the new repayment terms being claimed by Ascot & Ryley, it has been in recent discussions with the company in several attempts to resolve this matter amicably and in a manner which respects the terms originally agreed with the Club in 2022.
The Club has disclosed this unwelcome development to both the National League and the Independent Football Regulator and will continue to keep its supporters informed of further developments.
It will provide a further update as soon as it is able to do so and, in the meantime, thanks its supporters for their continued loyalty and support as its owners and senior management continue to do all they can to re-establish and maintain the Club’s sustainability both on and off the pitch.