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Bury's death bell seems to be ringing out
Discussion started by BELMONT (IP Logged), 14 October, 2019 18:03
BELMONT
BELMONT
14 October, 2019 18:03
Because of due diligence having taken place Bury's potential buyer has pulled out because of being no longer viable due to complex complicated and financially distressed situation.
Forever Bury had planned a legal defence against a petition brought by the HMRC but as the buyer has pulled out they can not give any adequate evidence or put a meaningful case forward.

Think the winding up petition is on Wednesday morning so it looks like the bell tolls on Wednesday.

They think it's all over, it is now(to use a well worn football comment)

Dan SWA
Dan SWA
14 October, 2019 19:17
I’m sad for the Bury fans, however can you imagine the bond as a supporter that you would have when a Phoenix club evolves, the determination to re-establish your club back into mainstream and then league football, the ultimate journey as a football supporter in rebuilding a bygone legacy and restoring pride and passion in a great northern town. They have to look at the positives and the future. Good luck FC Bury, enjoy the ride!!

MESSAGES->author
Doogie'sGhost
14 October, 2019 19:27
And this just makes the ludicrous outpouring from the media about Bury more ridiculous. They never had a shot at being able to play league football next season, let alone this one. Good luck to the inevitable phoenix club, I actually think the club might be better off ultimately going this route.

the baldy one
the baldy one
15 October, 2019 08:03
if bury fc want some money i will happily buy their goalposts so i can have a game of footi in my back garden. i will start the bidding at £2.00.

Kentexile
Kentexile
15 October, 2019 11:32
Not funny now. Being kicked out of the league is one thing, but finding yourself with no club to support is something else completely. What the hell do you do then?

Hampshire White
Hampshire White
15 October, 2019 12:08
There but for the grace of God........

It could so easily have been us over previous years.

No gloating at Bury's demise please.

Fiftyyearsarover
Fiftyyearsarover
15 October, 2019 13:50
Indeed not funny .surely the likes of the Neville’s could have helped out ,the last few years class of 92 lost a lot of money on pie in the sky schemes, would have been money better .spent on Bury ,after all most of the family worked at the club for years very sad indeed ,but look at Wimbledon ,recovery can happen

the baldy one
the baldy one
15 October, 2019 13:58
at the end of the day - quite a lot of Tranmere fans on here are saying not to take the micky out of bury fc because of their dire situation. do they honestly think that if the tables were turned bury fc would be bothered about us. for example - when we were in non league for 3 years I bet bury fc were laughing their heads off. let me get one thing correct - this all boils down to the fact bury fc sold their club to an absolute shyster in steve dale.

Uptonrover
Uptonrover
15 October, 2019 15:10
Quote:
Fiftyyearsarover
Indeed not funny .surely the likes of the Neville’s could have helped out ,the last few years class of 92 lost a lot of money on pie in the sky schemes, would have been money better .spent on Bury ,after all most of the family worked at the club for years very sad indeed ,but look at Wimbledon ,recovery can happen

Nevilles have been critisised many times BUT they have a financial interest in Salford and as such can not put money into another side

Hoots Mon
Hoots Mon
15 October, 2019 16:16
Quote:
the baldy one
at the end of the day - quite a lot of Tranmere fans on here are saying not to take the micky out of bury fc because of their dire situation. do they honestly think that if the tables were turned bury fc would be bothered about us. for example - when we were in non league for 3 years I bet bury fc were laughing their heads off. let me get one thing correct - this all boils down to the fact bury fc sold their club to an absolute shyster in steve dale.

The problem was already there before Dale arrived. Step forward Mr Day.

the baldy one
the baldy one
15 October, 2019 16:47
it goes without saying that the fit and proper owner test for football clubs is not worth the paper it is written on. it lets quite wealthy business men buy small clubs like bury fc and wreck them. and there is nothing anyone can do about it. if I was bury fc - from now on I would stay away from business men with the initials S.D. their last two owners have both had them.

DevonExile
DevonExile
15 October, 2019 17:52
I am no fan of the Nevilles but in this case it is unreasonable to expect them to have invested.. The ownership situation there has stunk for years now.Anything that they put into the club would have been lost in the murky dealings of recent owners. Their mothers link with the club must have given them an inside track to the affairs.
I feel sorry that football clubs remain vulnerable to the worst sort of financial vultures

Bored rover
Bored rover
15 October, 2019 18:47
Until a wage cap is brought in this is going to continue as teams, owners and fans demand “progression” and “positive attitudes” just take a look at this forum, so many fans unhappy at 2 promotions in 3 years and demanding we target making the step up to challenge for promotion to the championship and achieve it. When in reality we cant compete financially at this level towards the top never mind the Championship. Sometimes accidental overspending occurs too when clubs find themselves in the next league up accidentally and are financially incapable of surviving having to spend beyond means in order not to be cut adrift and embarrassed

Fiftyyearsarover
Fiftyyearsarover
15 October, 2019 19:23
I can quite understand our financial position and no way do I expect another promotion any time soon at the same time I don’t want us to go down again ,this is a really hard League and it’s going to be a struggle this season just to survive, the sooner the walking wounded return the better ,going back to Coventry we really should have been murdered ,and there is a few teams capable of doing it so we really must make the home games count but the trouble is we are down to our bare bones player wise ,what a bonus Sunday was

Zint
Zint
15 October, 2019 19:29
Ring the bells that still can ring, there is a crack, a crack in everything, that’s how the light gets in.

BELMONT
BELMONT
16 October, 2019 11:25
Bury given two week extension, so the patient is still breathing.

Reremnart
Reremnart
16 October, 2019 12:29
Quote:
BELMONT
Bury given two week extension, so the patient is still breathing.

The statement says something about giving them time to pay "smaller businesses". What with exactly because surely if they are not playing games and are not getting money from the EFL as part of the TV deal they have no income unless the maggot Stephen Dale is putting his hand in his pocket and I can`t see that.

Tom Bombadil
Tom Bombadil
16 October, 2019 12:48
Starting to be as boring as Brexit is now. Surely this just stops any advancement down the Pheonix route.

MESSAGES->author
Doogie'sGhost
16 October, 2019 13:13
Quote:
Bored rover
Until a wage cap is brought in this is going to continue as teams, owners and fans demand “progression” and “positive attitudes” just take a look at this forum, so many fans unhappy at 2 promotions in 3 years and demanding we target making the step up to challenge for promotion to the championship and achieve it. When in reality we cant compete financially at this level towards the top never mind the Championship. Sometimes accidental overspending occurs too when clubs find themselves in the next league up accidentally and are financially incapable of surviving having to spend beyond means in order not to be cut adrift and embarrassed
There IS a wage cap. The problem is it isn't enforced, is poorly worded, full of loopholes, barely paid lip service to and has no penalties until the patient (to borrow the phrase used by others) is in a critical condition. At that point penalties are enforced as a kill or cure treatment and everyone gets all holier than thou on the patient telling them it is their extravagant lifestyle that has brought it on themselves.

Until football, as a whole, gets to grips with financial management and installs a structure that forces clubs to live within their means together with a managed and reasonable degree of leeway for aspirational investment then this is going to continue to happen. But doing that is hard, whereas letting a few clubs lurch from boom to bust to crisis, with the odd fatality here and there, is easy. And allows the football authorities to wipe their hands of it all.

Tom Bombadil
Tom Bombadil
16 October, 2019 13:28
This situation is becoming as boring as Brexit. Another 14 days for the Bury fans to suffer and any progress for a Pheonix club hindered by not knowing the final fate of the old company.

ADD
ADD
16 October, 2019 13:44
This is getting beyond a joke I agree!!
I think HMRC were owed around £700k from Bury so as there is no buyer why on earth would anyone think it was a good idea to give another 14 days which further adds to costs....
Also what is this nonsense about paying small creditors - the club is subject to a CVA (if still valid)all creditors will be treated equally so they all get however many pence in the pound there is....
A final thought - whilst I have sympathy for Bury fans HMRC are trying to get back money that Bury owe all of us as taxpayers....

Bored rover
Bored rover
16 October, 2019 16:08
Quote:
ADD
This is getting beyond a joke I agree!!
I think HMRC were owed around £700k from Bury so as there is no buyer why on earth would anyone think it was a good idea to give another 14 days which further adds to costs....
Also what is this nonsense about paying small creditors - the club is subject to a CVA (if still valid)all creditors will be treated equally so they all get however many pence in the pound there is....
A final thought - whilst I have sympathy for Bury fans HMRC are trying to get back money that Bury owe all of us as taxpayers....

CVS is only applicable while they are trading/solvent a winding u order would make them insolvent, court trying to protect small business who could also end ip insolvent through Burys insolvency

the baldy one
the baldy one
16 October, 2019 16:40
everyone one is acting as if there is not going to be a bury fc anymore. even when this club gets closed down there will be a phoenix club called bury fc and then everyone will be happy again. if afc Wimbledon can rise as a phoenix club there is no reason why bury fc cannot do the same. I know it might take a few years but if I was a bury fan I would start the phoenix club for the start of next season 2020-2021.

ADD
ADD
16 October, 2019 17:43
Quote:
Bored rover
Quote:
ADD
This is getting beyond a joke I agree!!
I think HMRC were owed around £700k from Bury so as there is no buyer why on earth would anyone think it was a good idea to give another 14 days which further adds to costs....
Also what is this nonsense about paying small creditors - the club is subject to a CVA (if still valid)all creditors will be treated equally so they all get however many pence in the pound there is....
A final thought - whilst I have sympathy for Bury fans HMRC are trying to get back money that Bury owe all of us as taxpayers....

CVS is only applicable while they are trading/solvent a winding u order would make them insolvent, court trying to protect small business who could also end ip insolvent through Burys insolvency
But Bored Rover that is my point - if they have money for small creditors then are they still solvent and if so the CVA would still apply would it not??? In which case they need to pay creditors pro rata. I am very surprised that a judge would allow a company not to be wound up if there is money available as I am sure cherry picking is not permitted.... anyhow it is what it is and they won't pay in next 14 days anyhow.... ps MEN says that it is £1m owed to tax man....

Tom Bombadil
Tom Bombadil
30 October, 2019 15:31
[t.co]

Its going to run longer than Brexit this one.

stek26
stek26
30 October, 2019 17:56
Couldn’t care less!

And neither did they when they beat us last day of the season in 2015.
Invading our pitch to celebrate their own success whilst also singing and laughing at us for being relegated through out the game!

BELMONT
BELMONT
30 October, 2019 19:14
Court case put back to Dec 4th because Bury stated they have paid to much tax to the Tax man, seems odd one side saying one thing and the other claiming none payment

Some one some where is making money out of this ,the Law firms and the Accountants and going along with all this is Bury Football Club.

On top of all this is the media on local TV saying about the club going out of the League and business etc and the way it's harming the local businesses .

Don't think Chester got that sort of coverage when they went bust.


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