Bury down the pan at the hands of Property Speculators.

I don't think it was just player salaries at Bury that contributed to the financial shitstorm. Their previous owner (Stewart Day), mortgaged the stadium, with Bury seeing none of the money and the quoted weekly interest payments are said to be between £5k - £10k/ week. I think Andy Holt said they'd need about £3-4 million just to buy back Gigg Lane.

Their recent CVA was dodgy too- a company owned by Steve Dale's daughter's boyfriend was set up 2 days before the CVA (RCR Holdings) and claimed Bury owed them £3.6m. Their previous chairman also had a company listed on the CVA (Mereco I think they were called) saying they were owed £7m. These two debts amounted to about 85% of the debt so were able to vote through the 25p in the £1 repayment (nice £900k for Dale's family)- apparently the HMRC were livid with this. Thankfully the CVA is now going to be investigated.

Interestingly I heard an interview with Bury's academy manager- who said he was given £5k/ season funding, but in the last couple of years had generated around £2.5m for the club- Steve Dale has never spoke to him. The Bury youth side has reached the quarter (and possibly) semi finals of the last couple of season's FA Youth cup.

C&N pulled out of the deal on Tuesday due to all the financial shite they were finding with the ground, CVA and general finances- I'm sure there will be a lot of questions raised about the dealings of Stewart Day and more recently Steve Dale.

In terms of making a practical response to the Bury situation, if anyone has the time or the inclination, please sign this petition asking for an independent regulator for football and pass it on if you can.

https://petition.parliament.uk/petitions/268665

I'm not entirely sure how effective these petitions really are, but it can't hurt.

Jethro wrote:

Angry wrote:

i do have to question the sanity of the bury manager paul wilkinson for accepting that job under the circumstances they are in walking out on a two year contract with truro that he literally just signed only to end up out of work without so much a taking a training day let alone take home a wage.

listening to Neil Danns on Talksport the other night , they have all been going in for training the players who were left at Bury,
Also after his clash with Dale on the same station, Stephen Dawsons come out and said he's going to have to sell his house now.

Not the sort of training they would be doing at this stage or during the summer i suspect probably a kick about. Still question his sanity for leaving truro for them.

Chemical Ali wrote:

I don't think it was just player salaries at Bury that contributed to the financial shitstorm. Their previous owner (Stewart Day), mortgaged the stadium, with Bury seeing none of the money and the quoted weekly interest payments are said to be between £5k - £10k/ week. I think Andy Holt said they'd need about £3-4 million just to buy back Gigg Lane.

Their recent CVA was dodgy too- a company owned by Steve Dale's daughter's boyfriend was set up 2 days before the CVA (RCR Holdings) and claimed Bury owed them £3.6m. Their previous chairman also had a company listed on the CVA (Mereco I think they were called) saying they were owed £7m. These two debts amounted to about 85% of the debt so were able to vote through the 25p in the £1 repayment (nice £900k for Dale's family)- apparently the HMRC were livid with this. Thankfully the CVA is now going to be investigated.

Interestingly I heard an interview with Bury's academy manager- who said he was given £5k/ season funding, but in the last couple of years had generated around £2.5m for the club- Steve Dale has never spoke to him. The Bury youth side has reached the quarter (and possibly) semi finals of the last couple of season's FA Youth cup.

C&N pulled out of the deal on Tuesday due to all the financial shite they were finding with the ground, CVA and general finances- I'm sure there will be a lot of questions raised about the dealings of Stewart Day and more recently Steve Dale.

I appreciate the situations isn't just the consequence of overspending - these crises are often due to interlocking factors, sometimes going back many years. I was careful to acknowledge that. However reckless doping certainly played a part. Stewart Day was funding the team beyond it's means and when business conditions took a turn for the worse (he partly blamed Brexit believe it or not) he had to bail out. That's how Dale got his hands on the club in the first place.

Besides, this isn't the first time Bury have been guilty of this kind of recklessness and the Bury fans should acknowledge that - at least those who seemed quite happy with the overspending while the going was good.

harvetheslayer wrote:

lol old Nooly really should use the quote button before responding.....

Farm member "Just goes to show what an incredible job James Brent did when he inherited a mess."

Nooly in next post "Don't agree Bigsy, he's as bent as a three speed walking stick. Not quite as dodgy as Day though."

Well to be fair he did manage the pretty remarkable feat of getting a club through admin without ever putting his hand in his pocket. In fact as I recall your situation was the only example of the unfunded administration of a football club in history.

I imagine the staff who didn't get paid might choose a different adjective to describe the situation though.

Czarcasm wrote:

I get what you’re saying Jabbs, even if it’s of course being said firmly with a ‘Trust run club’ slant when you’ve given your opinions.

I do disagree though with your take that Salford and Bury’s philosophies are the same. The end goal may be similar, but the methods implemented to get there are worlds apart - put simply, Bury were spending what they didn’t ever have, whereas Salford have a pretty much unlimited revenue stream. I know people don’t like it but there have always been and always will be clubs that are financially rocket-fuelled, and then there will be Exeter City’s.

The playing field will never be level. Even the FFP rules are laughably akin to Swiss cheese. That is what needs to be severely tightened if any measure of ‘fairness’ is truly sought by the EFL. But to play devils advocate, if a Russian Billionaire wants to come and pump millions into an historically ‘nothing’ club like Bournemouth, why shouldn’t he?

I do feel sorry for Bury’s fans though. Sadly in terms of the size of the club, they were simply not an attractive enough proposition for a real investor to come in. Unlike a Bolton, or a few months back, an Aston Villa.

Very true. The FFP rules are shit, apparently you can make massive losses but as long as the owners agree that they will subsidise them they can crack on and make losses.

Bury are "actively considering" legal action against the English Football League following the club's "unfair" expulsion on Tuesday.

Members of the club's executive met on Friday to discuss their options, having earlier sent the EFL a letter questioning its handling of the affair.

The Shakers were expelled after C&N Sporting Risk pulled out of a takeover.

"All options are on the table. One that has to be considered is legal action," said the club's lawyer Chris Farnell.

"At least three bids went in on Friday before the deadline. The EFL allowed an extension for one bid - from C&N - but other bids were attracted and submitted to the EFL and it would appear they weren't considered.

"There's been no explanation."

In a club statement issued on Thursday, Bury confirmed the EFL would not be rescinding its decision to expel the club - despite the Shakers saying a £7m takeover bid had been submitted prior to Tuesday's second deadline.

The club have since sent a letter to the EFL setting out a list of questions - seen by BBC Sport - including:

Why a late bid from Brazilian multi-millionaire pastor Gustavo Benedito, which emerged on Tuesday afternoon, was not accepted.
Why the EFL said that a bid from an Italian consortium had not been received when the club insist it had.
Why the offer from C&N Sporting Risk was the only one accepted by the EFL and the only one granted an extension.
Why is it proportionate to consider dropping Bury five leagues - the club want the EFL to consider dropping them down to League Two instead.
Why owner Steve Dale passed the fit and proper person test.
Why the EFL refused to meet with representatives of Bury on Friday.
Why ex-Port Vale chairman Norman Smurthwaite was not considered to be an appropriate owner.
Bury, who had been in the EFL for 125 years and have twice won the FA Cup, have given the league until 16:00 BST to respond to their letter.

"It seems to be very unfair on Bury because of an artificial timeline," Farnell told BBC Sport.

"The decision to, in effect, kill a club has been made without any explanation as to why a very genuine bid from a very high-net worth individual would not be considered."

Farnell held a meeting with members of the club's executive and coaching staff, including manager Paul Wilkinson, former club secretary Jill Neville, general manager Scott Johnson, and club consultant - the former Cardiff and Wolves manager - Dave Jones.

Johnson said there is "a lot of people wanting answers over their future".

"I was giving them solutions and all we needed them to do was be brave," he added.

Shakers supporters group Forever Bury have also written to the EFL's executive chair Debbie Jevans asking for the club to be reinstated.

"The EFL's misguided handling of this matter has directly prejudiced the interests all Bury FC stakeholders including its creditors, shareholders, players and employees and we reserve all our rights to hold the EFL accountable in this respect," said the letter.

The EFL said it had received the correspondence from Forever Bury and would "respond appropriately" after "considering its contents".

If all of that is true then there is a very bad smell lingering around the EFL.

One has to wonder if Bury were to be the "Example made" irregardless of what happened.

I suspect the financial maze that’s been partly uncovered by C&N has probably influenced the EFL, I noticed the meeting that Farnell chaired didn’t include Dale which is strange being that he’s the owner albeit a very dodgy one.

Steve Dale's open letter to supporters

To All,

Firstly apologies that my efforts to save Bury from the decimation that I inherited from the previous owners have not been enough to date, after the CVA I thought we had a great future little did I realise the governing body allegedly there to help our Clubs would be our greatest threat but rest assured that issue is not over by a long shot

POSITIVES

I know it hurts but let’s be a glass half full here and start the fight from that point;

1,All realise Bury FC is still here it’s been removed from the league for  this season only  as per the Solicitors letter I received yesterday after asking them was anybody going to write to me formally to advise that they had removed us from the league, one would have thought that would have been done immediately if they were indeed a professional body?

2,I am in talks with the Bridging Loan Company who have a charge on our Stadium that the previous owner took out, whilst it’s a huge amount the Company is working with me to allow a 2 year holiday on capital repayment and we are agreeing on a sensible interest rate, I thank them for working with us, so Gigg will be safe.

3, CVA, the removal from the league and its financial implications has a huge effect on this however if you want me to stay I will do all I can in whatever way I can because if this gets finalised we have no threats to our Club and were safe to fight another day.

4,The EFL monies held over £600k should be paid to our football creditors reducing our CVA but who knows with the EFL’s agenda.

5, There are some good people and some former Directors who left because of the previous owners who have understood what I had to do was needed and have offered help, if I stay I will be definitely calling on them.

NEGATIVES

1,We need to address the ill truths/spin put out by Debbie Jevans as we can prove 100% that her words to media and statements put out portrayed a totally different picture to reality, they work on spin/miss direction, try to discredit the owner to take the passionate fans and heat away from them the real culprits, with little care how these ill truths affect the owners and their families.

2, I keep hearing Mrs. Jevans saying how they are there to help, the only help I ever had from the EFL was Shaun Harvey who advised on the CVA and got a payment sent to us, the last we ever had from them, as for help and support non-existent, threats plenty, help Nil.

3, We have our academy monies monthly but for some reason in closed season they do not pay out but give 3 payments at the end of August, we have managed to pay the Academy people previously but due to this devastation by the EFL we were reliant on today’s payment to pay Staff and guess what the EPPP have withheld payment even though it was for previous months prior removal from the league, makes you wonder as I’m advised they occupy the same offices as the EFL? Common theme don’t you think in screwing Bury we will be passing to our Lawyers.

4, I am hopeful that the Serious Fraud investigation will see the perpetrators brought to justice soon and disclosures can be made, this will allow fans to see what really was going on behind the scenes that seriously added to our current situation.

5,The investigation uncovered Reporters and Media outlets who through certain individuals at the club were receiving private and confidential information about the club, very News of the World, but they too will be exposed.

6,We need to clear out and start again, time and events have shown we have a handful of trustworthy Staff who care for Bury but the rest need to go it’s time for a change, new blood.

7, Buyers: James Frith brought Sporting Risk to the table I was hopeful that they could buy Bury but they would never provide proof of funds to me, just kept requesting more information one of the first I gave them was on the Stadium loan so it came as a shock they pulled out at the last minute for a debt they had known about for months. Another bid came in and, once again I have never seen proof of funds or heard from them since.

We also had a handful of timewasters but nothing concrete

I can confirm I have an offer from an individual, however, the NDA prevents me from disclosing and if the Fans want me out I will sell to him.

EFL

Well, there’s a story to tell but as we're coming up to page 3 so we will save the full story for another day, but ask yourselves this.

The biggest even in the league's recent history was decided by a couple of people who have shown there dislike for Bury by;

1,Withholding all monies due to the Club since early this year starving it for cash on the back of we owe Clubs what they don’t take into account/say is that Clubs owed us a similar amount.

2,I went to the EFL once I found out the level of problems in the Club when I first came, Shaun Harvey said to try to keep it going Steve as we have Bolton and Blackpool, I said I felt the only possibility was a CVA but that would cost me a fortune and we would get points. I was advised whilst we would initially get points we could appeal under a clause “Force majeure” as the actions of the previous owner meant this was a slam dunk. We sent our appeal in and got no initial reply then got a, under the circumstances you’re not applicable email, how would they know without the evidence, then a few days later got an aggressive Lawyers letter saying your out of time and you had to pay £5000 to appeal, which I was not aware of, but contrary to what they say we appealed in time and we have a 100% watertight case.

3,At a meeting with Craig and Jevans he boasted that nobody has ever won an appeal as this was some badge of honour, I thought it was about truth.

4,When we were on a conference call early after the CVA we explained you never know we could go up other Clubs have, the reply “not when we give you 12 points” again a common theme.

5,Embargo on players signing, when we asked could that be lifted before the transfer window shut, Mrs Jevans replied “when is that” and latterly “can’t you play your youth”
There are others but you get my point.

As stated the biggest event in the recent league history was decided by the biased few, Jevans keeps saying we act for 72 Clubs, so given the magnitude of their actions would you not think a sealed private ballot would be taken from all the Clubs so there could be no retribution from the league, something I was warned of when I came, the Chairmen I have spoken to would not have backed removal as tomorrow it could be them given the shambles the league and its Clubs are in.

I request an independent report is carried out and a ballot taken to reintroduce Bury to the league

Yours sincerely

Steven D Dale
Chairman Bury FC

They're gone. Simply cannot time after time have a deal collapse and still ask for one more chance.
They had more than enough chances to sort it all out with dont let your problem become my problem which is exactly what was happening with postponed fixtures.
At least now all the other clubs know the score up front and can plan accordingly with cashflow with one less home fixture

Dale really is in denial isn't he?

Earwegoagain wrote:

Dale really is in denial isn't he?

In comparison, Dan McCauley was like Mary Poppins.

Latest is police are investigating possible fraud.
No shit Sherlock!

The English Football League has announced a comprehensive review into the regulations and procedures concerning the financial sustainability of its member clubs.

The move comes after Bury were expelled from the EFL last week.

The independent review will be led by Jonathan Taylor QC.

Meanwhile, a group of MPs will hold a hearing into the role the EFL and Football Association play in safeguarding clubs.

Bury's 125-year membership of the EFL ended last week after a proposed takeover by C&N Sporting Risk collapsed.

Damian Collins MP, chair of the Digital, Culture, Media and Sport Committee, has also backed calls to place Bury in League Two next term.

Review to 'help understand what happened at Bury'
The EFL says the review will "consider the lessons to be learned" from Bury's recent financial difficulties and "seek to identify changes that help to ensure similar problems do not occur in the future".

Taylor is an expert on commercial and regulatory issues in sport, and is co-head of the sports group at law firm Bird & Bird. He is also leading a pre-existing review of the EFL's governance systems and procedures.

The review regarding financial sustainability will take place in two phases.

The first phase will look at the background to Bury's insolvency and will also consider the role of the EFL's regulations - including the application of the owners' and directors' test, the approach to insolvent clubs and the EFL's efforts to help secure a long-term future for Bury.

The second phase will focus on the effectiveness of the EFL's regulations and procedures in ensuring the financial sustainability of its member clubs.

Taylor will make recommendations on modifications to the EFL's articles of association, regulations and procedures, which will be considered by the EFL board and clubs.

Any changes approved by the clubs at the EFL's annual general meeting next year would then come into immediate effect.

Debbie Jevans, the executive chair of the EFL, said the review will "help everyone to understand what happened at Bury".

"The EFL recognises its responsibility to examine whether we can improve our regulations and procedures in this area," she added.

"We want to play our part in helping to ensure a successful and prosperous future for the EFL so our clubs can contribute to their communities for many years to come."

'Growing problem' within EFL
Collins, the MP for Folkestone and Hythe, said Bury's expulsion from the EFL "marks a failure of football governance".

Fellow League One club Bolton were saved from possible liquidation when they were taken over by Football Ventures (Whites) Limited last week.

"The decision to expel Bury is a tragedy for all who follow the team as well as the wider community that it serves," Collins said.

"The current owners and directors test is clearly not sufficient to protect the long-term interests of clubs and keep bad owners and directors out of the game.

"The Select Committee believes that the issues that have affected Bury reflect a wider and growing problem within the Football League."

Bury North MP James Frith said earlier this week that he plans to put forward a proposal to the EFL by 20 September in a bid to have the club reinstated to League Two in 2020-21.

Collins, who said the committee will hold hearings "in the autumn" relating to the crisis at Bury, has urged the EFL to consider "any realistic proposal that could support Bury's status as a football league club, including whether they could play next season in League Two, under new ownership".

Bury's expulsion means that three clubs, rather than four, will be relegated from League One this season and just one, instead of two, from League Two.

Timeline: Bury's EFL demise
30 July: EFL suspends club's first game of the season asks them to prove financial viability
9 Aug: Bury are given until 23:59 on 23 August to provide "clarity required" as third game is called off
20 Aug: Sixth Shakers game suspended, while owner Steve Dale rejects offer to buy club
23 Aug: Bury granted extension until 17:00 on 27 August in light of bid from C&N Sporting Risk
27 Aug: EFL expel Bury after C&N Sporting Risk withdraws interest
29 Aug: Bury claim EFL will not rescind expulsion, despite the club revealing a further £7m takeover bid
30 Aug: Bury write to EFL as club "actively considers" legal action
2 Sep: Bury North MP reveals plan to submit a proposal to the EFL by 20 September in a bid to have Bury reinstated to League Two in 2020-21

Nice to see a Bury fan at the match on Tuesday, in match day moments

The members of the EFL have decided to have just one club relegated from League 2 this season (rather than allowing Bury start 2020/21 in League 2), so Bury's chances of returning as a League two club look extremely remote.


The EFL and its Member Clubs have determined a preferred direction of travel for how best to return the League to its full membership of 72 Clubs from the 2020/21 season. The discussions followed the withdrawal last month of Bury FC’s membership, which had the effect of reducing League One from 24 to 23 Clubs for the current campaign.

As previously confirmed, the number of relegation places in League One will reduce to three for this season. At a quarterly meeting of EFL Clubs today, discussions established an agreement in principle whereby only one Club, rather than the usual two, should be relegated from League Two to the National League at the end of the current season and the Board will now formulate proposals that will be brought forward for adoption by Clubs at a general meeting in due course. This would mean that both League One and League Two have a full complement of 24 Clubs for the 2020/21 season.

During today’s meeting, the EFL and its Member Clubs considered and debated a number of options, with all Clubs given the opportunity to air their views. The debate included consideration of the proposal submitted by the Bury FC Rescue Board for the Club to be admitted to League Two under new ownership in season 2020/21. Following in-depth discussions, it became clear that the proposal did not have the necessary support and that EFL Clubs favoured extending the existing principle of a reduction in relegation across all divisions as a means of returning to 72 Clubs now and for the future.

Debbie Jevans CBE, EFL Executive Chair, commented: “While we are saddened that Bury FC is no longer part of the EFL, the Board’s difficult decision to withdraw membership was only taken after every opportunity to find a resolution was exhausted. Since then, in recognition of the efforts made on behalf of the Club, the EFL has engaged with supporters’ groups, shared their submissions with our members and debated at length the issues raised.

“Following the discussion today, Clubs have established that the preferred direction of travel is to reduce relegation from League Two as a means of returning to 72 Clubs. The Clubs felt that, in a difficult situation, this approach maintains fairness for all members and upholds the principle of the football pyramid.”

In a separate discussion at today’s meeting, EFL Clubs gave their endorsement to the proposed appointment of Rick Parry as EFL Chairman. The appointment will now go forward for formal ratification at a general meeting.

https://www.efl.com/news/2019/september/efl-statement-efl-agrees-plan-to-return-to-full-72-club-membership

Shame for Bury but they can reform and work their way back.

It is a shame but I'm not sure they are able to run any league campaign. They'll be back the main thing is lessons are learned, personally I think feck all will change.

Plymouth Argyle manager Ryan Lowe will be pulling on his boots again for one special match later this month.

The 41-year-old has agreed to take part in a game between a Bury FC Legends XI and a Bury FC All Stars XI.

The fund-raising fixture will take at Radcliffe FC on Sunday, October 20.

That will be the day after the Pilgrims have played Carlisle United in League Two at Home Park.

Argyle assistant manager Steven Schumacher is also confirmed for the Legends vs All Stars.

Lowe and Schumacher moved from debt-ridden Bury to Argyle over the summer, with the Shakers eventually being expelled from the EFL at the end of August.

The game on October 20 will raise funds towards the future of Bury FC, whether that be under new ownership or the route of a phoenix club.

More than 1,000 tickets have already been sold for the match at Radcliffe’s Stainton Park.

Lowe had three spells as a striker for Bury, scoring 65 league goals in a total of 129 starts and 32 substitute appearances.

Former Argyle loan signing Jason Jarrett, who played for Bury early in his career, is another confirmed name for the match at Radcliffe FC.