Morecambe have announced Bond Group Investments has sold its majority shareholding in the club to Panjab Warriors.The Shrimps were facing closure due to financial issues and stopped all first-team operations after their insurance lapsed.Morecambe look set for a brighter futureGettyA statement on behalf of current owner Jason Whittingham said a sale to Panjab Warriors was intended to be completed on July 7.Whilst this did not come to fruition, Morecambe have revealed a new update in their ongoing saga as they look towards finalising a sale.“Panjab Warriors and Bond Group Investments Ltd are pleased to announce that an agreement has been reached in principle for the transfer of majority shareholding in Morecambe Football Club Ltd,” a statement read.“Following constructive discussions and a shared commitment to securing the future of the club, both parties have agreed to a structured settlement that ensures a smooth and fair transition.“This agreement reflects the willingness of both sides to compromise in the best interests of Morecambe FC, its supporters, and the wider community. It paves the way for continued stability and a positive future both on and off the pitch.“Final legal documentation will now be prepared, with immediate steps being taken to inform key stakeholders, including the National League and the club’s management team.“Both Panjab Warriors and Bond Group would like to thank all parties involved for their patience and support during this process, and we look forward to a new chapter in the club’s history.”Bond Group Investments, for whom Whittingham is a director, said: “We would like to thank all of the staff at the Club for their forbearance and can only apologise for the stress this has caused. “In particular I would like to thank Rob, Derek, Oliver and Martin for their continued professional conduct and support throughout this process and also their support for the staff and the Community.“I would hope that the Shrimps Fans can now give their full support to the Club and it’s journey ahead.”Morecambe, founded in 1920, were on the brink of closureGettyAnd on Sunday, the finalising of the deal was confirmed, with the club saying in a statement: Bond Group Investments can now confirm that it has sold its majority shareholding in Morecambe Football Club to Panjab Warriors.“Particular thanks to Rob Smith, Oliver Wilson-Fish, Martin Thomas and Derek Adams for their consistent professionalism and support throughout this process. “Also thanks to the club staff, Sponsors, Stakeholders and the National League.“Acknowledgement must be given to Antony Antorkas at Parker Andrews Insolvency Practitioners, along with his team, for their invaluable advice and support over the past few weeks.I would urge all fans of the club to now focus their energy into supporting the club as it enters the next chapter of its story.”Their first match of the season is expected to take place on Saturday, where they will entertain Altrincham.Morecambe’s turbulent summerHaving finished 24th in League Two, Morecambe were relegated back to the National League.A deal with Panjab Warriors was given approval by the EFL in June, but Bond Group then said they were ‘considering reneging’.Panjab Warriors revealed they had already paid £3.8million to Bond Group, as well as £630,000 to cover outstanding loans.A further £1.7m was loaned by them interest free to help the club meet their monthly working capital needs.Morecambe’s board of directors said at the beginning of July they would begin the process of administration if a sale wasn’t made.But Whittingham then dismissed the board to avoid administration with the club at a ‘crisis point’, although the five directors resigned.Morecambe will hope to play their first National League fixture this weekendGETTYThis came after two-thirds of staff wages for June were not paid.Amid the proposed July 7 sale, the Labour MP for Morecambe and Lunesdale Lizzi Collinge said the club was ‘being held hostage’.“The likes of Jason Whittingham should never have been allowed to buy a football club,” she added.On July 9, Bond Group announced agreements were to be signed for a sale after a ‘last-minute’ bid from a UK-based buyer.But Panjab Warriors said they would ‘seek legal advice’, with the National League then placing the club under a registration embargo.Whittingham later claimed another takeover, with people who have ‘genuine football experience’, was close to completion. Panjab Warriors announced legal action against Whittingham and Bond Group amid the proposed sale to a Jonny Cato-led consortium.A group of shareholders at Morecambe then warned Bond Group of High Court action if they didn’t sell the club within 48 hours.On July 28, the Shrimps were suspended from the National League and had their opening three fixtures postponed.All football operations were stopped and players began to leave.Lisa Nandy, the Secretary of State for Culture, Media and Sport, told Whittingham to sell Morecambe amid their ‘heartbreaking’ situation.The National League committee will meet again on August 20 to decide on Morecambe’s ability to retain their membership.