By Asia Samachar | Britain |
Entrepreneur Sarbjot Singh Johal has all but completed his takeover of Morecambe, with the club confirming his purchase has been finalised subject to being approved by the English Premier League (EFL), reports a British newspaper.
The 20-year-old entrepreneur has beaten Tyson Fury to buy Morecambe, with the takeover of League One side now subject to Football League approval, reports the Daily Star.
Sarbjot had been in competition with Fury to buy Morecambe, with the heavyweight world champion boxer offered the chance to buy the club last year.
Fury, who lives in the town and has previously invested in Morecambe, did enter talks with regards to a purchase in late 2022 before opting against buying the club, according to the report.
However, Johal will now become the new owner, having already purchased equity in the club, with his takeover to be finalised once he has passed the EFL’s owners and directors test. He is set to buy Morecambe through his investment firm Sarb Capital after making his money in the drinks industry, the report added.
Johal is listed as chairman of a company called Sarb Capital, a private equity firm, since January 2022. On Companies House Johal is recorded as a director of Vitanic Limited, a company incorporated as Vitanic Group in May 2019.
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