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AMIW

R I P Bury

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Expelled from the football league league one (division 3 in real numbers) and Bolton could follow

 

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45 minutes ago, AMIW said:

Expelled from the football league league one (division 3 in real numbers) and Bolton could follow

 

read that earlier today, sad that so long a history could be lost like that

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i don't even like soccer and i feel sad 

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38 minutes ago, Daisey Jeep said:

Not only did they win the fa cup daisey but for almost 120 years they held the record for the biggest win in a final 6 0

equalled just a couple of months ago by man city who of course have a lot more money than bury

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42 minutes ago, AMIW said:

Not only did they win the fa cup daisey but for almost 120 years they held the record for the biggest win in a final 6 0

equalled just a couple of months ago by man city who of course have a lot more money than bury

shit :(

can't someone pass the hat around and set up a trust to manage it's finances 

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This will happen more and more as shonky owners buy small clubs looking to get some of the action.

 

Fucking shite state of affairs what's happening in fitba these days.

But, as in life, there will always be collateral damage when the market decides.

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Football is a pyramid with the premier league at the top,if some of the lower foundations crumble then the top of the pyramid will eventually become unstable.

From what I've read the people who were trying to buy Bury saw the stadium as the main asset but the deeper they dug they found that there were alot of charges & leases that came with it that it made it unviable for them.

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terrible news and i guess Bolton with reported debts of over £150 million may not be far behind, An efl spokesperson  says a wage cap may be needed. i doubt many clubs in the lower efl would be existence without massive debt or sugar daddys https://oddschanger.com/football-news/clubs-with-the-largest-debt-in-english-football

the figures are frightening

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An international consortium has £7m in the bank and is ready to complete a takeover of Bury, if the EFL agrees to reinstate the club, Sky Sports News understands.

The consortium says it has shown the EFL proof of funds and was in negotiations to buy the club on Tuesday night, before Bury were removed from the Football League.

The EFL made the decision to expel Bury after a proposed takeover by C&N Sporting Risk fell through on Tuesday afternoon, just hours before the 5pm deadline.

Bury were unable to fulfil any of their fixtures at the start of this season after owner Steve Dale failed to prove he could pay off creditors and show adequate operational funding.

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A music slant to this Nick Mason is involved with Football  Ventures 

The half time music might take a turn for the better.

 

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12 hours ago, newcastle roy said:

Bury still fighting apparently 

Good luck to the consortium, but where were they when they were needed just a few days ago ?

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The EFL has agreed to discuss the matter of Bury's potential re-entry into the Football League following their expulsion last week.

The Shakers were expelled from the league, losing their place in League One, after C&N Sporting Risk pulled out of a proposed takeover of the club

However, there are calls for the governing body to reconsider its decision, with an alternative option being the club are re-admitted into League Two for the 2020/21 season.

 

An EFL statement released on Tuesday has said the organisation will consult the remaining 71 clubs in the coming weeks regarding Bury's situation.

There is no precedent for a club to enter the EFL directly through an application for admission or readmission following withdrawal of membership with it a "complex situation that raises questions of due process, precedent and fairness as well as financial implications".

However, it goes on to say any such move would be dependent on "clear evidence being required of the club's financial viability and its ability to fulfil its ongoing commitments".

Bury insist a £7m takeover bid by another party had been submitted prior to the second deadline on August 27.

The club's general manager Scott Johnson said after Tuesday's announcement: "We think this is common sense. We think it's very positive and we welcome the news.

"What we'll do now is prepare and move forward and assist Bury Football Club's application to the Football Association.

"If we were to be relegated to League Two we would obviously still have the football league status and my understanding is that one of the buyers would still be prepare to purchase the club."

"Of course, if we are re-admitted it does set a precedent, not just for Bury Football Club but any other club that does get into difficulty

"Football is very reciprocal, you can get promoted or relegated and fall into difficulties and it is important that everyone is looked after in the football family going forward."

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im shocked to say if they get readmited to the 2nd league next year i may have found myself an English football club of the round ball 

good luck to them

i hope they can get their financial house in order

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