Morecambe Football Club parts ways with manager Derek Adams
This came the day after Panjab Warriors officially bought the Shrimps from Bond Group Investments.
Morecambe have been in crisis since being relegated from League Two last season.
Adams, 50, was in his third stint in charge of the National League club having been appointed in June 2024.
The Scot had previously managed the Shrimps from November 2019 to June 2021 - guiding them to promotion to League One via the play-offs - and from February 2022 to November.
Adams had remained with Morecambe during a chaotic pre-season amid uncertainty over the club's long-term future.
However, he leaves after 14 months in the job during which he oversaw their relegation from League Two.
A Morecambe statement said the club gave "its sincere gratitude" to Adams for the "leadership and steadiness he brought to the club" throughout a "testing chapter".
"His return instilled direction and purpose, helping guide Morecambe into League One for the first time in their history [in 2021] and stabilised the team under immense pressure," it added.
"As the club enters a new era, a strategic transition in leadership has been made with respect and appreciation for Derek's services."
It was announced on Sunday that Bond Group had sold its majority shareholding to the investment company, after the club had been up for sale for almost three years.
Also on Monday afternoon, staff were paid outstanding wages for June.
The club also announced its suspension from the National League had been lifted, and said outstanding July wages would be paid to employees by the end of Wednesday, as well as money owed to other football creditors including HMRC.
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