Bury Gone

The Bury players were registered with a club when the transfer window closed, which means, under normal circumstances, they can't sign for another club until the New Year transfer window. Will that remain the case in this situation?

 

Steve Dale has reportedly been involved in the liquidation of around 40 companies. How does someone like that meet the ‘fit and proper persons test?

 

Paul Wilkinson.

Never realised he was their manager until now.

 

I suspect he will need to take security with him if he visits the place again.

 

Just found out about Bury. What extremely sad news. Very distressing for the local people in many many ways. Over a hundred years of history down the pan. Not at all right.

 

In principle the club still exists, they just aren't allowed to play in the EFL. Unlike Scarborough or Rangers for example. Bury could apply for the spot in the conference, since only one team is being relegated this year from league Two but two are being promoted to league Two they'll be one short. Ideal world there's some kind of supporters buyout of the "club" but they'll probably lose the stadium. Bolton however do stand to be liquidated.

 

I don't know the ins and outs, but I definitely read that any phoenix club would have a good chance of retaining the stadium. As for Bolton - the stadium is a huge asset, and will definitely be sold to cover debts to creditors if the club is liquidated.

 

Very sad, got to feel for their fans wouldn't be surprised to see more clubs end up like this in the coming years. Sky sports were doing a countdown for the deadline yesterday... just wow

 

I think the EFL are simple enacting the same process that Bury have just failed to deliver which gives the club 14 days before the EFL have the right to withdraw their membership. It seems they didn't enact it earlier while seemingly serious takeover discussions were ongoing.

The administrator did say yesterday that the club didn't have funds to continue if a takeover wasn't agreed, and if that collapsed, today they'd start liquidation proceedings.

I guess we'll wait and see.

 

Wow guy, on BBC just said 20% of clubs in EFL are unsustainable

 

I think that's probably understated to be honest. The last few years there have been charts of spending against revenue and overall indebtedness, and that's just the championship. As someone else mentioned, you've also got low end clubs who are struggling to live day to day with just basic spending and the number of clubs facing winding up orders seems to be on the increase too.

Debt at the levels seen in the championship is pretty hard to shift naturally without a CVA (triggers points deduction), an owner having external money to expunge it or the willingness if its from themselves to write it off.

I think the problem that exists, Championship in particular, is that the clubs vote and agree on various changes and there are clubs continually blocking earlier transparency and prudence, I suspect because they are in such dire straits that punitive actions may result. But while ever they block and while ever the EFL is unwilling or unable to act earlier, i expect owners will just keep spinning this out as long as they can.

 

And for the people owed money by the club.. many little businesses will go under because of this financial mismanagement. I feel so sorry for the fans of Bury. The greed/idiocy of a few has destroyed their club.

For sky news to do a countdown to the deadline was just sick. They are part of the problem.

Let’s hope the club can survive and rise again.

 

Wow

 

How many clubs in the Championship are one bad season away from relegation and a complete financial collapse?

 

You look at Hull, Reading, Wednesday, QPR, Birmingham, Derby, Forest, Brentford, Leeds and Bristol City, and I think they are all in situations where they have (or had) significant debt and pretty erratic ownership. Some seem to be generating good revenues to compensate against that indebtedness, but if they aren't reducing debt, its always there and has to be dealt with somehow.

What hasn't translated so far is heavily indebted clubs collapsing under the weight of it. If Bolton are liquidated, that might just send shivers through EFL and some clubs who are struggling without it being in the public domain.

The question after that though, at what stage does the landscape start to change where at Championship level in particular, wages and fees fall to allow us to compete better?

 

Sounds like Ken Bates and Chelsea/Leeds.

Luckily for Ken some Russian fella popped up

 

Fk me we could be playing in Europe soon

 

The sad thing and something worrying about these situations is the EFL's lack of ability to make decisions and manage their own business to avoid these things happening. When they are supposed to act the EFL keep abstaining from a decision by extending deadlines. Finally with Bury for example they had to make no decision as it made itself. It appears they are driving Bolton the same way. They want the kudos of 'having worked closely with the clubs to explore all possible avenues' but they don't want to say a deadline is a deadline. Weak as hell and unfortunately the sport we love is going in the wrong direction and the EFL are helping it along.

P.S. I think they should have stopped both clubs playing in the league for 1 season until ownership and a sustainable structure is in place. Decision could have made in these instances early enough. They should have promoted teams to make the numbers in L1 and returned both 1 league lower if they can get their act, ownership and financial structure in place by May 2020. Protects the league integrity which is ruined right now, protects the fans of the clubs and protest the fairness fo competition. Just my Opinion of course.