Bury on the brink of expulsion :(

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  • #180187
    garswood_laticGarswood_latic
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    BURY Football Club have been told they face expulsion from the EFL on August 23 unless they satisfy the league’s demand for financial information.

    The club has been told this afternoon that they must “meet all outstanding requirements of the league’s insolvency policy” or face the withdrawal of their ‘golden share’.

    The Carabao Cup game against Sheffield Wednesday, which had been due to take place at Hillsborough on Tuesday, August 13, has now been suspended.

    The Shakers’ opening two league games of the season against MK Dons and Accrington Stanley have also been shelved as the EFL continue to demand information from club owner Steve Dale on how he intends to pay bills, going forward.

    Dale insists he has provided the requisite details and has accused league officials of “throwing hurdles” in front of the club.

    A statement the EFL read: “Bury FC’s scheduled Carabao Cup fixture with Sheffield Wednesday has been suspended by the EFL Board after the Club failed to provide the additional specific detail requested in relation to a number of its financial obligations.

    “The club had been set a 5pm deadline on Wednesday, August 7, 2019, by the league who were seeking further information into how they planned to meet its commitments in respect of football creditor debts, payment to unsecured creditors as part of the Company Voluntary Arrangement (CVA), alongside source and sufficiency of funding for season 2019/20.

    “Following extensive discussions and correspondence between the club’s ownership and the league – the additional information provided lacks the clarity required and as a result of the league not being able to defer the decision any later than today, the club’s Carabao Cup tie on Tuesday, August 13, 2019 will not take place as scheduled in accordance with Carabao Cup rules.

    “The EFL will continue to concentrate its efforts on working constructively with the Club and Mr Dale to obtain the detail required to avoid any further suspensions.

    “However, the EFL Board is of the strong opinion that it cannot continue to suspend fixtures indefinitely and, after Wednesday’s deadline for information was passed without a successful resolution, it will now lift the suspension on the notice of withdrawal of membership of the EFL.

    “Bury were served the notice of withdrawal of membership on 25 July 2019 and it has remained suspended until today (August 8, 2019).

    “As per the league’s Articles of Association, this will now give the club 14 days (until August 23, 2019) to meet all outstanding requirements of the league’s insolvency policy or its membership of the EFL will be withdrawn.”

    EFL Executive Chair, Debbie Jevans CBE, added: “Despite continued efforts, regular communication and dialogue with Mr Dale and his team, the required evidence has not been forthcoming. Albeit regretfully, the Board has been left with no choice but to take the action it has.”

    #180188
    MR BrownbillMR Brownbill
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    What an absolute tragedy….Hope something can be done to avoid expulsion.

    #180190
    NuneatonlaticNuneatonlatic
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    So sad for them I truly hope this is resolved but it’s looking bleak. Meanwhile the EFL bend over backwards to ensure Bolton don’t go the same way.

    #180191
    garswood_laticGarswood_latic
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    What an absolute tragedy….Hope something can be done to avoid expulsion.

    I fear the owner doesn’t want that.
    The more I read about this he is either burying his head in the sand hoping it will go away, or far more likely is waiting for the club to disappear and he can asset strip what remains. He too as an individual is probably a “creditor” to the limited company.

    #180192
    garswood_laticGarswood_latic
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    So sad for them I truly hope this is resolved but it’s looking bleak. Meanwhile the EFL bend over backwards to ensure Bolton don’t go the same way.

    Bolton’s owners are at least “playing the game”, providing information, plans (no matter how pie in the sky we from outside may view them).
    Bury are just not playing along and I’m afraid the EFL are right, it can’t carry on with Bury’s owner ignoring all attempts.

    #180194
    EdwardsEdwards
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    It’s desperately sad for the fans of both Bury and Bolton. I know I’ve poked a bit of fun at Bolton in other posts but I really feel sorry for their fans if not the club.
    There is an official petition going around for independent regulators in football, it needs to happen

    #180201
    pemblue 1932pemblue 1932
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    Very sad, have an affection for Bury, my first ever away match, meanwhile just down the road, city spend 130 million.

    #180202
    horchorc
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    Another twist in the Wanky saga.

    https://www.bbc.co.uk/sport/football/49286229

    #180204
    Vat69Vat69
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    So sad for them I truly hope this is resolved but it’s looking bleak. Meanwhile the EFL bend over backwards to ensure Bolton don’t go the same way.

    Bolton’s owners are at least “playing the game”, providing information, plans (no matter how pie in the sky we from outside may view them).
    Bury are just not playing along and I’m afraid the EFL are right, it can’t carry on with Bury’s owner ignoring all attempts.[/quote]

    Ah, developments at Bolton this afternoon. They dont actually HAVE owners as such, and thats the problem. Bassini has filed a court injunction this afternoon to prevent the sale to Football Ventures.

    Its all going wrong there and they too will surely face the same fate as Bury. They are shot…lets be honest. FV havent the funds…its just putting on the inevitable.

    #180207
    EdwardsEdwards
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    Their getting screwed over left right and centre but great news for the administrators, they could swindle another million out of this.

    #180212
    NuneatonlaticNuneatonlatic
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    So sad for them I truly hope this is resolved but it’s looking bleak. Meanwhile the EFL bend over backwards to ensure Bolton don’t go the same way.

    Bolton’s owners are at least “playing the game”, providing information, plans (no matter how pie in the sky we from outside may view them).
    Bury are just not playing along and I’m afraid the EFL are right, it can’t carry on with Bury’s owner ignoring all attempts.[/quote]

    Borrowing 2 million off the PFA is hardly playing the game gl and my gripe is still the same, why were Bury charged with not fulfilling a fixture even before the event when Bolton still haven’t been. BTW gl, as I understand it the owner of Bury has terminal leukaemia so I doubt he is trying to make money out of it all. It’s such a disaster for everyone concerned with Bury and it must hurt like hell for their poor fans.

    #180214
    Vat69Vat69
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    Another twist in the Wanky saga.

    https://www.bbc.co.uk/sport/football/49286229

    I honestly dont think its as straight forward as they make out.

    The takeover can’t have been on the brink of completion this afternoon, because they are waiting to see what happens with the hotel and its administrators tomorrow. Basically, FOOTBALL VENTURES have agreed to buy the club, but they have budgeted with regard to also owning the hotel with it, as it is the clubs biggest source of income, and is key to their financial forecast and planning.
    However, there are other interested bidding parties after the hotel, but not the club, and this, they say, is the hold up. If another party gets the hotel, FV takeover is off. Its all so tentative. I cant believe the EFL have allowed it to go on like this. Disgrace.

    My opinion? Its all stalling the inevitable. The club has that many debts, FV don’t have enough money to take it all over. Meanwhile, the longer it goes on, the till of the administrators is ringing up more and more every day. No wonder its taking so long….

    Theyre knackered, really knackered. But whilst as a football supporter I find it quite sad, its the effect on other clubs that is really bothering me. If Bolton fold, Wycombe will have hosted a game that will be extinct from the history books and will lose their 3 points from last weekends game. Already its messing people about.

    #180218
    SammySammy
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    The fear has been that if one club folds under the circumstances Bury and Bolton find themselves in then it could start a domino effect and the existing 72 club English football league system could be in serious trouble. The EFL have questions to answer about their rules and regulations regarding the credibility of persons/organisations owing football clubs. However, I think the financial situation some clubs find themselves in and the efforts the EFL go to try and keep them in existence has led to a turning of a blind eye to their own rules and allowed charlatans of dubious intentions to infiltrate the football world and that’s why these two clubs in particular are faced with the prospect of being expelled from the football league.

    #180220
    donnys pageDonnys Page
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    FV’s are probably more interested in the hotel than in the football. A lot of what has been happening with the football club is just stalling untill the bidder for the hotel is announced. Once that is known the future of Horwich FC will be known. All the stalling isn’t getting creditors paid or fans their football. It’s s Shambles. Horwich fans should thank their lucky stars the EFL are continuously so leniant with their club.

    #180227
    Vat69Vat69
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    FV’s are probably more interested in the hotel than in the football. A lot of what has been happening with the football club is just stalling untill the bidder for the hotel is announced. Once that is known the future of Horwich FC will be known. All the stalling isn’t getting creditors paid or fans their football. It’s s Shambles. Horwich fans should thank their lucky stars the EFL are continuously so leniant with their club.

    Well, today is the day that the hotel preferred bidder is announced, so its going to be a big day. Of course, this Bassini thing has reared its head. There is always something crops up when it gets to a crucial point. Its tiresome now.

    FV do not have the necessary funds for the size of the task in hand. The fact that they went to the PFA for a loan already shows that.

    Bolton Wanderers FC just needs shutting down. Its sad, very sad, and I feel for their fans. But they just need to form a new club and start afresh, away from all these debts, carpetbaggers and fly by nights.

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Forums Cockney Latic Main Forum Bury on the brink of expulsion :(