RIP Bury FC 1885-?

[ChelseaBoy 2,441]

1 hour ago, Gribz said:

Not sure its any other clubs duty to bail out other clubs.

 

With Bolton 6 miles up the road and the trouble they are in you wonder if a potential merger would benefit.

Would never happen. No matter how small the club, they still have their unique history. They would probably rather become a phoenix club a la Wimbledon, Aldershot, Darlington and Gretna among others. 

[JFK-1 1,693]

I'm hearing that the owner has allegedly rejected a bid for the club today with the hammer about to fall tomorrow. Suspicions of skulduggery with suggestions that he's looking to sell to developers. 

[ChelseaBoy 2,441]

1 hour ago, JFK-1 said:

I'm hearing that the owner has allegedly rejected a bid for the club today with the hammer about to fall tomorrow. Suspicions of skulduggery with suggestions that he's looking to sell to developers. 

He was on Talksport a few weeks back. He blames the previous owners for the mess and has allegedly spent £3m of his own money to try to sort things, plus he has terminal cancer. I'm not sure what is going on, but i think he wants proof of funds for any perspective new owner and may want some of his family money back?

[ChelseaBoy 2,441]

Bury 'sold', says owner Dale

Big breaking news from the Football League...

Owner Steve Dale has told BBC Radio Manchester he has agreed a deal to sell Bury as an EFL deadline for their possible expulsion approaches.

[Gribz 850]

The next 48 hours crucial for Bury and Neighbours Bolton.

 

Bolton seem to be in the worse state, the Administrators have said they will be liquidated unless a buyer is found in the 11th hour. Thats a big shock. Not so long ago they had Campo, Djorkaeff, Jay Jay Okocha, Anelka and were going well in the top flight and Arsenal's boggy team.

 

Its some stadium they have there aswell. I went to it when it was called the Reebok once for an FA Cup match v Sunderland (very random day out). and its a great layout, great parking and great access to the ground.

 

The buyers for Bury who agreed a deal are saying they cant conclude until Wed / Thurs because of a bank holiday and their lead advisors are on off today - I have to say thats lame, surely with such bid they can pay their advisors a bit of overtime!

[Bill 13,717]

16 minutes ago, Gribz said:

The next 48 hours crucial for Bury and Neighbours Bolton.

 

Bolton seem to be in the worse state, the Administrators have said they will be liquidated unless a buyer is found in the 11th hour. Thats a big shock. Not so long ago they had Campo, Djorkaeff, Jay Jay Okocha, Anelka and were going well in the top flight and Arsenal's boggy team.

 

Its some stadium they have there aswell. I went to it when it was called the Reebok once for an FA Cup match v Sunderland (very random day out). and its a great layout, great parking and great access to the ground.

 

The buyers for Bury who agreed a deal are saying they cant conclude until Wed / Thurs because of a bank holiday and their lead advisors are on off today - I have to say thats lame, surely with such bid they can pay their advisors a bit of overtime!

I can tell you for 100% there are no days off during the making of a deal.

[Bill 13,717]

I’ve been reading for years there are 20 or so English league clubs in danger of folding. Some do doubt have passed via relegation into non league football but Bury and Bolton May only be the tip of the iceberg. 

[JFK-1 1,693]

 

Bury expelled by English Football League after takeover collapses

 

Bury have been expelled by the English Football League after a takeover bid from C&N Sporting Risk collapsed.

The League One club had been given until 17:00 BST on Tuesday to complete the deal, having been granted an extension to Friday's initial deadline.

Bury are the first team to drop out of the EFL since Maidstone's liquidation in 1992.

League One will comprise 23 clubs for the rest of the season, with only three teams to be relegated.

"When the news broke at Gigg Lane, fans instantly let out a huge cry - for help, of disbelief," said BBC Radio Manchester's Mike Minay.

"Fans walked away in instant tears, some crouching down to the floor."

EFL executive chair Debbie Jevans said it was "one of the darkest days" in the league's history, and added: "I understand this will be a deeply upsetting and devastating time for Bury's players, staff, supporters and the wider community.

"There is no doubt today's news will be felt across the entire football family."

 

Bolton Wanderers, also of League One, have been given 14 days to avoid being expelled themselves, with their prospective takeover by Football Ventures (Whites) Limited still yet to go through.

In a statement on Monday, the club's administrators warned they are on the brink of liquidation, saying if they were unable to resurrect the move the club was "not in a position to carry on trading".

However they said on Tuesday they will "continue to work through the night" to complete a deal, adding that there will be another update "as soon as possible".

 

The EFL had suspended each of Bury's first six fixtures this season, requesting evidence the Shakers could pay off creditors and had the funding to make it through the campaign.

In a statement at 23:05 BST on Tuesday, the league said it decided "after a long and detailed discussion" to withdraw Bury's EFL membership "with enormous regret".

"No-one wanted to be in this position but following repeated missed deadlines, the suspension of five league fixtures, in addition to not receiving the evidence we required in regard to financial commitments and a possible takeover not materialising; the EFL board has been forced to take the most difficult of decisions," Jevans said.

Bury were initially given until 23:59 BST on Friday to either provide the required information or find a buyer to take them over.

With the third-tier side effectively an hour from being thrown out of the EFL, owner Steve Dale told BBC Radio Manchester he had sold the club and they were set to survive.

That news subsequently secured them an extension until Tuesday to complete the deal, but C&N Sporting Risk quickly expressed concern it was still not enough time.

An estimated 300 volunteers turned up at the club's Gigg Lane home on Tuesday to help get the ground ready for Saturday's scheduled game against Doncaster Rovers, but their efforts were in vain.

Reacting to news of the Shakers' expulsion, Bury North MP James Frith was critical of the EFL and claimed there was a lack of consistency in how it has treated the situations at Bury and Bolton - allowing Bolton to play games but not Bury, for example.

"I'm angry. My head is in my hands. I feel Bury is the victim… and those left to pick up the pieces are the town and the community. Yes we will rise again and keep the faith but we shouldn't be at this point," he told BBC Radio 5 Live.

"We have to make this a moment in time for lower league football. We are just the latest victim of this. I have had clubs speak to me who are a default payment on a mortgage away from this."

Founded in 1885 and first elected to the EFL nine years later, Bury were playing in what is now known as the Championship as recently as 1999 and have twice won the FA Cup.

No club has ever dropped out of the third tier before, and the Shakers also become the first FA Cup winners to have been expelled by the EFL.

England women's manager Phil Neville, whose mother Jill resigned as Bury's club secretary last week, described their demise as an "absolute disgrace" on Friday.

Supporters staged numerous protests in the build-up to the deadline, with former director Joy Hart handcuffing herself to a drainpipe outside their ground and a coffin reading 'RIP Bury FC 1885-?' was placed at the directors' entrance.

Greater Manchester Mayor Andy Burnham also wrote to EFL chief Jevans asking for the club to be granted more time "given the urgency of Bury's plight".

 

At the end of April, Bury were celebrating promotion back to the third tier of English football, but they were already enduring a torrid time off the pitch.

The club was already in financial trouble when Dale bought it for £1 in December from previous owner Stewart Day, with players and staff often being paid late.

A winding-up petition filed against the club was adjourned three times before eventually being dismissed by the High Court on 31 July.

By then, creditors had approved a company voluntary arrangement (CVA) put forward by Dale, which was proposed to help settle some of their debts.

The CVA meant unsecured creditors, including HM Revenue & Customs, would be paid 25% of the money owed - but also triggered a 12-point deduction in the League One table under EFL rules.

Furthermore, the EFL were unsatisfied Bury had given enough evidence of their financial viability, leading to a string of postponed fixtures while the organisation awaited "the clarity required".

On 9 August, the Shakers were given a 14-day deadline to provide the necessary information or face expulsion. That deadline expired at 23:59 BST on Friday.

 

How will it impact the league structure?

The EFL had already outlined how it intended to balance the leagues if Bury were expelled:

The current League One season would be completed with 23 teams, with the number of relegation places reduced to three.

Four teams will still be promoted from League Two this season, ensuring League One is rebalanced in 2020-21.

Only one team will be relegated from League Two, with two to be promoted from the National League as usual.

 

It is not yet certain what will happen to Bury Football Club, its staff and players or the stadium.

Before Saturday's announcement, the EFL said if the Shakers were expelled the club would "be free to make an application to the Football Association to rejoin league competition further down the English football pyramid from season 2020-21".

 

https://www.bbc.com/sport/football/49451896
 

[alexscottislegend 2,320]

They'll likely be back. I remember Accrington Stanley being folded in 1968 or thereabouts. Look at them now.

[Scott7 6,004]

Took a while for Stanley to get going again. Ten years ago, maybe? The’ve done fine since the restart.