Morecambe confirm 20-year-old Sarbjot Johal will take over the club, subject to EFL approval... as the business tycoon beats Tyson Fury to try and become the youngest owner in English football

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Morecambe say they are in the process of being taken over by 20-year-old entrepreneur Sarbjot Johal, confirming Sportsmail's exclusive story last month.

We first revealed news that the businessman, through his private investment firm Sarb Capital, was close to completing a buyout at the League One side on January 4, with club chairman Graham Howse now confirming the deal will be ratified provided it passes the EFL's owners and directors test.

Howse also revealed Johal has already purchased equity in the club.

Heavyweight boxing champions Tyson Fury, who lives in the town, revealed on talkSPORT at the end of 2022 that he was also considering buying Morecambe.

Fury already invests into the relegation-threatened side; his Gypsy King logo prominent on the team's match-day kit.

Morecambe say they are in the process of being taken over by 20-year-old entrepreneur Sarbjot Johal (front row, second from left)

Business tycoon Johal is set to beat Tyson Fury to the multi-million pound takeover of the League One club

But Johal has struck a deal with the club's current owners Bond Investments and is now waiting on EFL approval.

It, of course, remains to be seen whether Johal, who has a history in the drinks industry, passes the league's stringent processes.

Indeed in his statement Howse spoke of his concern that the sale had not progressed as 'quickly as we'd have liked'.

Nevertheless, Johal's attempts to become the youngest club owner in English football.

Morecambe has been up for sale since September and Howse told the club's official website: 'It is fair to say the sale process hasn't progressed as quickly as we all would have liked - that said, my understanding is that exciting times are ahead both on and off the pitch.

'Sarbjot Johal is eager to start the project to take the Club on to a new level, subject to satisfactorily navigating the EFL Owners and Directors' test.

'Sarbjot, through his company Sarb Capital, has recently purchased equity in the Club, injecting more than useful income into us.

'I am, along with Sarbjot, keen that the process should now move on at pace to come to a positive conclusion.'

If Johal (right) passes the stringent EFL tests, he will become the youngest club owner in English football