We have been informed by representatives of G50 Holdings that Abdulrahman Al-Hashemi has agreed to sell his interest in G50 Holdings Ltd that has a controlling interest in Morecambe Football Club to the Cala Corporation and that the agreement provides for interim finance to secure the ongoing future stability of the Club.
The objective is that Morecambe FC should be a successful and sustainable football club of which the local community can be proud.
We have been informed by Joseph Cala that the interim finance for creditors and wages will be received no later than Tuesday.
Cala Corporation will be speaking to the EFL to arrange for clearance to be given to four representatives of theirs to become Directors of Morecambe Football Club Ltd.
Once clearance is given by the EFL the current Board of Directors will resign to allow the new Board to take the control of the Club.