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Bury Football club kicked out of the football league

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Polarbear
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PostPosted: 00:31 - 28 Aug 2019    Post subject: Bury Football club kicked out of the football league Reply with quote

I don't think there are many soccerball (tm yanks) fans here but for us few that like the game, a very sad day for football.

Bury expelled by English Football League after takeover collapses.

It was coming but somehow you kept hoping someone was waiting in the wings to buy the club. Ah well, the premier league is fine, nothing to see here.

https://www.bbc.co.uk/sport/football/49451896
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chickenstrip
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PostPosted: 00:52 - 28 Aug 2019    Post subject: Reply with quote

I'm not a football fan, but I see how the smaller clubs form a centre for local community for many. Very sad, and just another illustration of how the poorest continue to lose what little they still have.
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WD Forte
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PostPosted: 00:55 - 28 Aug 2019    Post subject: Reply with quote

they probably had too many days like this

https://www.youtube.com/watch?v=S9KXrRUZqtw
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DRZ4Hunned
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PostPosted: 10:51 - 28 Aug 2019    Post subject: Reply with quote

mpd72 wrote:
Often this involves a tiny (in comparison to increased income of promotion) FA fine, if the club is one favoured by the FA, such as Leeds, Villa etc. In this case, Bury did over spend to get promoted and the FA, instead of fining them, decided to set an example.


Leeds favoured by the FA Laughing

They got fined for "spying" last year which breached no EFL rules...
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kawakid
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PostPosted: 00:01 - 29 Aug 2019    Post subject: Reply with quote

I’m upset about Town,bottom of the premiership in May, now bottom of the Championship. Absolute rubbish, saw the Derby game and Lincoln, glad I didn’t renew.

But poor Bury fans.
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Ribenapigeon
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PostPosted: 09:26 - 29 Aug 2019    Post subject: Reply with quote

Football is just a part of the entertainment industry. There's only room for a certain number of acts and those that don't turn over enough money are doomed. Its not like the music industry where some band can still exist on a shoestring.
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Im-a-Ridah
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PostPosted: 12:54 - 29 Aug 2019    Post subject: Reply with quote

Next week remainers will say all small Northern towns will lose their football club because of ###### Laughing
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bhinso
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PostPosted: 13:28 - 29 Aug 2019    Post subject: Reply with quote

Bury down the sh1tter but Bolton got clean away... Thumbs Up
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iooi
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PostPosted: 15:09 - 29 Aug 2019    Post subject: Reply with quote

Sad for the fans and players.

What has come out is the EFL has serious messed up with their due diligence that the current owner was fit and had the funds to keep the club trading.
He bought it for a £1.00 in December, yet the prospective buyer pulled out stating
Quote:

"Ultimately though, it was six years of a combination of financial mismanagement, errors in governance and issues that ultimately meant that to unravel them, in what was a short period of time, were incredibly difficult."


So how did Steve Dale get passed by the EFL as fit to finance & run the club if in less than 3 months was in court of unpaid tax bill. Then could not pay players in March & April.

Someone seriously fucked up @ the EFL and should be out of a job.

The EFL should also have given both Bury & Bolton a deadline of having either new owners or funds in place before the start of the season to ensure they could fulfil their obligations.
Not allow it to continue into the season by postponing matches.
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bhinso
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PostPosted: 16:40 - 29 Aug 2019    Post subject: Reply with quote

I heard he bought it for £1 but then tried to sell it. I never heard if he succeeded and how much he wanted for it.
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Polarbear
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PostPosted: 19:10 - 29 Aug 2019    Post subject: Reply with quote

iooi wrote:
Sad for the fans and players.

What has come out is the EFL has serious messed up with their due diligence that the current owner was fit and had the funds to keep the club trading.
He bought it for a £1.00 in December, yet the prospective buyer pulled out stating

Quote:

"Ultimately though, it was six years of a combination of financial mismanagement, errors in governance and issues that ultimately meant that to unravel them, in what was a short period of time, were incredibly difficult."


So how did Steve Dale get passed by the EFL as fit to finance & run the club if in less than 3 months was in court of unpaid tax bill. Then could not pay players in March & April.

Someone seriously fucked up @ the EFL and should be out of a job.



He never got checked by the EFL. He just informed them he had bought it and the only choce they had was to work with him or kick Bury out there and then and they were never going to do that.

I don't feel good giving any support to the EFL but in that case they were hamstrung.
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Polarbear
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PostPosted: 19:19 - 29 Aug 2019    Post subject: Reply with quote

bhinso wrote:
I heard he bought it for £1 but then tried to sell it. I never heard if he succeeded and how much he wanted for it.


There are so many things wrong with what went on....

A mortgage on Gigg lane where 40% went to someone who 'arranged' it and another loan taken out at 138% APR for 1 million quid.

Pure asset stripping.

Read this if interested about the dirty tricks that go on in business.

https://www.theguardian.com/football/david-conn-inside-sport-blog/2014/nov/12/bury-high-interest-loans-shadow-recovery
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