Administration and recovery

[Prufrock]

I'd wondered that too. Guess it partly depends on their outgoings. If they've got any contracted players (which I think they do) for example that's going to cost a lot with no income. Hope they can for their sake.

There will be a sweet spot down the leagues where the extra cash of a relatively big club bringing fans to away games outweighs the lessening of eg promotion chances.

[DJBlu]

It's absolutely devastating.

The EFL have used them to set an example. It was needed however when they too are responsible for the man in charge due to lax checks it's a massive two fingers at the supporters.

I don't think we've seen the last of it and would expect a take over with a challenge to the EFL for inclusion in League 2 next season due to their involvement.

[nelson66]

plenty of ex football league clubs in the national league north and evostik league - scarborough, york, chester, stockport...etc...
sadly Bury won't be a big fish and its not big pond

My main hope is that Bury Council refuse planning permission to anyone wanting to have the Gigg Lane redeveloped and that its earmarked for single use sports ground only.... sport england can also have a role to play in this ...as their wishes are held in high regard during the planning process

[officer_dibble]

True, dat.

Lands not much use without planning.

[BWFC_Insane]

It's absolutely devastating.

The EFL have used them to set an example. It was needed however when they too are responsible for the man in charge due to lax checks it's a massive two fingers at the supporters.

I don't think we've seen the last of it and would expect a take over with a challenge to the EFL for inclusion in League 2 next season due to their involvement.

See I don't think that's the case. The EFL failings are fundamental in that their approach has been "let clubs rumble on and if in difficulty let anyone literally anyone in to try and sort the mess out". That's a huge fundamental failing.

But they were left without a choice in the here and now. Bury takeover fell through. Others were interested yesterday BUT how long would it take? A few weeks at least - which would mean suspending more fixtures and presumably having to probably award the teams the points since Bury wouldn't be able to cope with all the rearranged games.

If all the things said are true - from the prospective buyers - then I can't see Bury being bought as is. When you have car parking spaces owned by far east investors multiple charges on the stadium and a web of financial skullduggery even more complex than our own - it looks a really tall order. Especially as now the league have made the decision - Dale is under less pressure - he might asset strip before liquidating.

What a horrific horrific mess.

I will admit I shed a tear this morning listening to Bury fans describe what it meant to them.

And whilst I think we'll be ok - it still could be us in a few days.

[Lost Leopard Spot]

...the Bottom Line is Appleton had previously stated that unsecured creditors were heading for 35p in the £, and (by implication alone) that secured creditors would be getting paid, but FV do not, nor never have had, the cash to make that statement come true. That's the bottom line. That and that alone. Everything else is subsidiary to that Big Problem. FV have tried to bamboozle their way through the entire process. They are skint.

LLS - not dissing your statements or questioning them, but given that you've stated this a lot - can I ask, do you know this is the case, or is it just your best guess of the situation?

As I said, not saying you are wrong at all - and you might well be 100% correct - just the level of confidence with which you make the point about them having no cash implies some knowledge rather than just an assumption?

You'll be waiting a while. A fecking long while at that!

I answered him immediately. Not imminently, or soon, but straight away.

[Lost Leopard Spot]

Awful for Bury. What the hell do they do now? Start again in the northern counties? Feel for all the staff who have stuck with it. Be nice if we could offer some of them positions if we ever get our shit together.

Speaking of which.
Another 14 day deadline; presumably Gillingham will be pulled?

Liquidation - begin today? Or not whilst talks remain “optimistic”. Seriously Ken, you’ve taken it to the edge now, well done son.

Once they’ve got their shit together, either Bury FC or more likely FC Bury (or similar) will have to apply to the FA for membership of a league down the pyramid. Northern Counties, if it’s still called that, is one shout. They might shoot for National League (either the national “division five” or its regionalised tier-six feeder National League North, but they have to be voted in by clubs who have their own ambitions to be something more than a walk-on in someone else’s heroic rebirth.

Gillingham is an away match thus much lower overheads. I think James might stump up the cash for the coach. Liquidation unlikely to start when a deal is so close.

Am I right in thinking that Bury FC still exists as a company just without the golden share for the EFL. I know it's extremely unlikely but if they could arrange a takeover(moth ball the company) then could they not re-apply under the same company?

The club still exists, just no longer in the league. Dale is still the owner and his CVA is still in place. The problem for the club though will be no income until 2020 season starts, and with no income there is no way of servicing the CVA, so winding up the club/business will be very much on the cards I would presume.

[Dave Sutton's barnet]

Iles: “Staff at #bwfc have been instructed that "any plans that may have been made for the immediate closure of the club have been put on hold".”

[Dave Sutton's barnet]

Re Bury, learnt an interesting thing this morning.

“FA can place bust League club in National League but new ones technically must go to Step 5, probably NW Counties League.” (NB Step 5, confusingly, is not the one below League Two but the fifth step down the non-league pyramid.)

[Lost Leopard Spot]

Iles: “Staff at #bwfc have been instructed that "any plans that may have been made for the immediate closure of the club have been put on hold".”

That doesn't even make sense: any plans that had been made for the immediate closure of the club would have seen the immediate closure of the club. The fact the club hasn't been closed means no such plans were made, never mind 'may have been'.

[Lost Leopard Spot]

...I think the wording got a little scrambled - "Staff at #bwfc have been instructed that "any plans that may have been made for the imminent closure of the club have been put on hold".”

[Harry Genshaw]

I'd wondered that too. Guess it partly depends on their outgoings. If they've got any contracted players (which I think they do) for example that's going to cost a lot with no income. Hope they can for their sake.

There will be a sweet spot down the leagues where the extra cash of a relatively big club bringing fans to away games outweighs the lessening of eg promotion chances.

Had the same discussion this morning. We couldn't see any realistic way they could continue as a business, paying the contracted players, upkeep of the ground etc all with no football income until next Summer. Presumably the business will be wound up now? Awful

[Lost Leopard Spot]

I hope somebody is shaking a piggy bank as we speak, the only way this deal is going to get closed is with some extra money swilling around.

[TANGODANCER]

This morning, for no explainable reason, an old joke about a pygmy tribe called the Fukawi who live in the rain forests came to mind.

[jimbo]

Can I make a polite request to keep Bury chat in the other thread? I’m seeing posts and it’s taking me a bit of reading back to work out whether it’s about them or us!

As for us, I guess the EFL 2 week notice thing last night is irrelevant. The admins claimed to not have the cash to see out the week and were planning on liquidating us today. You would assume there’s not loads of wriggle room in that, and that something has to be done in the next, ahem, 48hrs or so.

[BWFC_Insane]

Can I make a polite request to keep Bury chat in the other thread? I’m seeing posts and it’s taking me a bit of reading back to work out whether it’s about them or us!

As for us, I guess the EFL 2 week notice thing last night is irrelevant. The admins claimed to not have the cash to see out the week and were planning on liquidating us today. You would assume there’s not loads of wriggle room in that, and that something has to be done in the next, ahem, 48hrs or so.

I think so. I suspect they need it doing today in reality.

It is a little concerning that they were talking about "working towards completion" last night but this morning its "talks ongoing".

[officer_dibble]

Just a different way of saying the same thing.

If it happens it’s a combination of a relaxation of the EDT for which we don’t know who to thank, and/or Michael James who should get a knighthood.

[Dave Sutton's barnet]

Marc Iles' story on liquidation being held.

https://www.theboltonnews.co.uk/sport/1 ... -put-hold/

"An internal message, seen by The Bolton News, was sent out this morning to allay fears that administrators could be about to close the business."

Quotes Appleton: “Owing to the ongoing negotiations with Football Ventures for the sale of the club, I want to stress that any plans that may have been made for the immediate closure of the club have been put on hold.”

[Dave Sutton's barnet]

Nixon's tweeting again. Usual caveats apply.

(Can it happen today?)
Yes. Football Ventures need their deal done before the Manchester chap gets the hotel deal finalised. That’s the real race just now.

(But will Anderson agree?)
Anderson is out of the equation if Manchester chap gets hotel. However he has to be dealt with if FV want to complete. As do others. Not just him. Davies family. Even PFA deal needs locking down. The timing of that one ...

(Why would Anderson be out?)
Manchester guy paying in full for hotel. Up front. Mainly. Therefore that money pays off creditors. James company and Anderson.

(How soon?)
Hotel admin were expecting a result last night or early this morning. They let the lawyers of both groups finalise. First done gets club.

(Will FV complete today?)
It was all heading that way last night. James putting extra funds into it. Because they were short. The PFA loan an interesting one in light of events elsewhere ...

(How fast would club be done after hotel decision?)
Things are always quicker when you have money. FV need hotel for their plans. Manchester chap wants it and then club.

(Will FV do it? Yes or no?)
Yes. They should be able to. Thanks to the extra James finances.

(is that what it is down to now, the bidder to complete first as in fastest and not formalities?)
Both FV and Manchester guy have Heads of Terms. Their lawyers need to complete.

[DJBlu]

It would be an ideal situation to have 2 bidders but I just find it so hard to take anything he says seriously.