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League Two club Morecambe have been taken over by Brazilian businessman Diego Lemos, subject to consent from the English Football League.

Lemos has bought a majority shareholding from Peter McGuigan.

Chairman McGuigan has owned the Shrimps for 16 years and oversaw the club's relocation to the Globe Arena in 2010.

When he put Morecambe up for sale in March, he said he hoped a new owner would aim to take them into League One in three years.