Bury & Bolton

What’s the exact difference in their financial situation that allows Bolton to continue playing and Bury not? This article outlines bits, but not the full story. Anybody know why?

https://www.telegraph.co.uk/footbal...-edge-closer-collapse-efl-voices-frustration/

 

Would it have anything to do with the ex Bolton player and PFA chairman Peter Taylor propping them up with loans, just a thought ???

 

I could be wrong here but basically Bury have agreed a CVA with their creditors for outstanding debts but have not satisfied the EFL (or provided suitable evidence) that in addition to the CVA they have sufficient funding in place to operate and complete this season i.e. day to day running costs, wages etc. If you google Stewart Day (Bury's former owner) then basically he took out high interest loans secured against the ground (this was when Dave Flitcroft was in charge at Gigg Lane) and they were paying out huge wages in L2. Must have been some special human beings and all that!!
Their current owner Steve Dale hasn't helped matters and claimed the financial position was a lot worse than he was led to believe when he took over from Stewart Day. Just been reading earlier today a takeover offer has been submitted and the club's staff are urging Steve Dale to accept it as they claim it is their only chance of survival.
I think basically Steve Dale has nowhere near enough money to fund the club and he's having a go at the fans, EFL, the former owner etc.

Bolton on the other hand have had a takeover agreed in principle, the proposed buyers must have satisfied all EFL criteria in regards to funding the club etc (this would have gone through the administrators) and I understand it was all set to go through at the end of last week until the mad man Laurence Bassini threw a spanner in the works and took out a court injunction to stop the deal completing. Not really sure what will happen next tbh.
In addition Bolton still haven't received confirmation of their penalty for failing to fulfill the Brentford game at the end of last season.

 

https://www.google.com/amp/s/amp.th...v/12/bury-high-interest-loans-shadow-recovery

https://www.google.com/amp/s/amp.th...er-owner-stewart-day-winding-up-petition-debt

https://www.bbc.co.uk/sport/football/49324224

 

Bolton are a bigger club with better connections.

 

Cheers. The Bolton deal is suspended by the court. Therefore surely they are now in a position similar to what Bury were in? Which conversely Bury are now the opposite as they appear to have found a buyer.

So correct me if I’m wrong, but in a weeks time, the position of both clubs could potentially be the complete opposite - where Bury can play and Bolton could be suspended?

Crazy times.

 

Apparently Bury have until tomorrow morning to provide the documentation the EFL are demanding or their next league game will be postponed. It's really not looking good for them as things stand.

 

Bury's next game now also postponed. They should really be put out of their misery.

 

I think its going that way. Writing was on the wall when Flitcroft went on his spending spree funded by multiple loans on the ground and future monies. Shame if it happens, but it really ought to.

 

I've said all along that Bury will be sacrificed and Bolton won't

 

....and another one gone. Next Tuesday's fixture postponed

https://www.bbc.co.uk/sport/football/49356357

 

Do we owe Bury anything for Styles? Like for appearances or Sell-on?

And if so, what happens if they fold? Not for one minute do I want them to fold, by the way, just on the premise of saving us a few pennies.

 

would imagine all such things will be null and void, for any players they have sold of late.

 

It’ll go into the assets column of the liquidation, ie monies owed in, which will be used to pay the liquidators costs (and XX pence in the pound to creditors if there’s anything left). We don’t get away without paying.

 

No they shouldn't. But the Chairman and directors should be pulled up through the courts to face any charges of financial wrong doing.
Why should good honest football fans lose their club due to incompetence by the board of directors?

 

Have a little sympathy for the current owner as it appears the problems are as a result of the previous owner and dubious deals.
The FA really should be working with them to prevent folding.
Bolton have little to no sympathy as the current owners(and the people trying to buy it have contributed)

 

They shouldn't, but starting again might be the only way of keeping it. Faced with the prospect of Barnsley FC disappearing completely, or restarting as Barnsley Albion or summat in the Wheeltappers & Shunters League, I'd take the latter.

 

Bolton do seem to be getting too many chances in comparison.

 

Not arguing with you and I agree with the situation you point out. Anything to keep the club alive. My point was the reckless way the directors have run and run down Bury FC is nothing short of criminal.
I drink with a Bury fan and he is very depressed over the whole situation and the possibility of losing his club due to mismanagement of certain individuals.

 

It looks like the Bolton takeover is going through. But with Laurence Bassini in charge, I'd be very surprised if they were still in existence in twelve months. He's a known fraudster, with a string of failed businesses behind him. He's only buying Bolton because nobody else will touch them with a bargepole.