It's coming down to the wire for two old and storied football teams in the English Football League, Bury and Bolton. Either or both may find themselves out of the league altogether because of financial trouble. Interestingly they're located next to one another in the greater Manchester area. Bury are close to being sold, the buyers have to pass a good character test, while Bolton may go into liquidation and cease to exist because of it. Fingers crossed that both survive.
Update: Bury FC have just been expelled from the EFL, very bad news indeed. https://www.bbc.com/sport/football/49435288
Showing posts with label English Football League. Show all posts
Showing posts with label English Football League. Show all posts
August 28, 2019
July 31, 2019
Bury FC May Disappear
On the list of things you couldn't make up if you tried; Bury FC are close to being expelled from the English Football League (Association Football or Soccer for those who don't know). They play in League One, the third tier of the English football system. The problem they face is that the new owner, who bought the club for 1 pound sterling (US$1.22) late last year, has not been able to satisfy the EFL that he has the finances to run a fully professional club for the coming season. That season kicks off this weekend.
Read about it here: https://www.theguardian.com/football/2019/jul/29/bury-suspend-efl-league-one-match-mk-dons
Apparently owner Steve Dale has put the club up for sale. I suggest an offer of a fiver, bearing in mind the new owner is acquiring the accumulated debts, which include unpaid player wages, transfer fees and the like. Their home ground is owned by the club, which I understand has a mortgage against it. The real cost then is more likely in the millions of pounds, but given they're in League One after being promoted from League Two last year, the prospect is they may keep on winning. That's right ambitious folk amongst you, they're two steps off English Premier League. Got your attention?
Update: The Chairman of Bury FC has put out the following statement in reply to the EFL: https://www.buryfc.co.uk/news/2019/july/statement-from-chairman/
I think the key to this matter is contained in the third to last paragraph (starting with the words "Then the EFL meeting last night and subsequent statement..."). The way I read this is that the EFL want to see funds in the bank, and this must happen before they release 500k+ to Bury.
Read about it here: https://www.theguardian.com/football/2019/jul/29/bury-suspend-efl-league-one-match-mk-dons
Apparently owner Steve Dale has put the club up for sale. I suggest an offer of a fiver, bearing in mind the new owner is acquiring the accumulated debts, which include unpaid player wages, transfer fees and the like. Their home ground is owned by the club, which I understand has a mortgage against it. The real cost then is more likely in the millions of pounds, but given they're in League One after being promoted from League Two last year, the prospect is they may keep on winning. That's right ambitious folk amongst you, they're two steps off English Premier League. Got your attention?
Update: The Chairman of Bury FC has put out the following statement in reply to the EFL: https://www.buryfc.co.uk/news/2019/july/statement-from-chairman/
I think the key to this matter is contained in the third to last paragraph (starting with the words "Then the EFL meeting last night and subsequent statement..."). The way I read this is that the EFL want to see funds in the bank, and this must happen before they release 500k+ to Bury.