New Morecambe owners to settle club's debts after takeover goes through

Morecambe players celebrate
Morecambe players celebrate extending the club's stay in the EFL to a 12th season

Morecambe's new owners are set to pay off the club's outstanding debts after their takeover was formally completed.

Bond Group Investments agreed a deal to acquire the League Two club at the start of May.

The Shrimps stayed in the Football League on goal difference after a 0-0 draw with Coventry City on the final day of the season.

"The current bank overdraft and other significant debts will be repaid in full," a club statement said.

The new owners - Jason Whittingham and Colin Goldring - have also committed to putting more money into the club.