Dale claims Bury have been sold with hours to spare
24 Août, 2019, 17:23 | Auteur: Adelaide Bullion
In practical terms Bury owner Steve Dale, who bought the club for one pound ($1.22) a year ago, inheriting the debt, would need to have a new investor or buyer in place by midnight.
If that was to happen League One would be reduced to 23 clubs with the number of relegation places reduced from four to three.
The board has fully considered the information that has been made available by C&N Sporting Risk and whilst no formal sale has been completed, despite reports to the contrary, enough credible information was presented to allow the board to agree to work exclusively with the club and C&N Sporting Risk over this bank holiday weekend in an attempt to finalise the change of control and achieve a positive outcome for Bury FC.
'It is a very complicated scenario and there remain a number of outstanding legal and other issues that have to be addressed. "We will be making no further comment at this stage".
Much of the club's financial trouble is as a result of over-spending under previous owner Stewart Day, who spent big and brought in players from higher divisions in a bid to move up the leagues. As Campbell and Newman made clear, there are layers of complexity and huge problems at Bury, and they must themselves satisfy the EFL that they are "fit and proper" to take over, although they are said to have provided proof of funds to the league - and reassured Bury supporters about their competence, finance and plans.
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It has now emerged that four parties are interested in an 11 hour takeover of the financially-threatened club who have yet to play a first-team match in 2019-20 after having each of their first six fixtures suspended including tomorrow's game against Tranmere.
The EFL's executive chair, Debbie Jevans, emphasised on Thursday that it will already be hard for those five fixtures to be rescheduled given the crowded calendar of a 24-club division, hence the board's refusal to allow any further postponement of matches for extended takeover negotiations.
How did we reach this point?
Bury visit Fratton Park on April 25, 2020.
Maidstone United and Aldershot were both liquidated during the 1991-92 season but no club has ever dropped out of the third tier before.
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