Desperate Times for Bury | Page 11 | Vital Football

Desperate Times for Bury

I would think they, the EFL etc, will want a lot more than the good intentions of the owners/directors of C&N Sporting Risk, ie something like hard cash to fund the working capital to get up and running.

There is nothing in the accounts except a big debt that more than wiped out any assets the company has.

Right Wayne. My point was not very clear. I was suggesting that maybe this company has some analytics that have some value but are not recognised on the balance sheet as an intangible. And at some future point those analytics will bring in some income. I’m wildly speculating, of course - but just trying to illustrate that just because the b/s shows negative net assets doesn’t necessarily mean that the business is not viable in the longer term.
 
Right Wayne. My point was not very clear. I was suggesting that maybe this company has some analytics that have some value but are not recognised on the balance sheet as an intangible. And at some future point those analytics will bring in some income. I’m wildly speculating, of course - but just trying to illustrate that just because the b/s shows negative net assets doesn’t necessarily mean that the business is not viable in the longer term.
I don't have a problem with that but the owner [it was C&N Trading - £100 share capital and £100 in the bank] of C&N Sporting Risk and/or its directors have to come up with hard cash right this minute in order to fund operations/meet fixtures if they pass muster with the EFL.
 
That article makes it even murkier. This whole situation is a farce. It stinks of piss taking. The EFL need to just kick Bury out to keep what little credibility the League and EFL have left
Why kick Bury the Club out of the EFL. Would you like to see GFC kicked out of the League of PS went awol with all the cash and assets?
 
Not what I want at all but at some point the EFL need to set a deadline and stick to it. Not keep moving it. They have a duty to all the other EFL members and are sitting a dangerous precedent by letting it go on and on. They need to show leadership not just be lead a merry dance.
 
Not what I want at all but at some point the EFL need to set a deadline and stick to it. Not keep moving it. They have a duty to all the other EFL members and are sitting a dangerous precedent by letting it go on and on. They need to show leadership not just be lead a merry dance.
Agree but the EFL has shown itself to be a total shower of shit. With all the alarm bells and klaxons going off like mad, the EFL insisted that they carried out all the necessary checks and balances - checks and balances that have proved time and time again to be wholly inappropriate.
 
Agree it makes some feel sick, but, football is running out of philanthropists to keep all the wheels on the wagon. This almost certainly the tip of the iceberg, there are according to some reports a number of Football league just keeping their heads above water. Insolvency looms.
 
I remember in 1992 Bury allowed us to move our home fixture against them to over the Christmas period (boxing day, I think) to replace our festive fixture v Maidstone as they had gone tits up.
They wacked us 4-1.
 
The EFL were totally unreasonable to expect due diligence to be done in days when it usually takes 3/4 weeks.
 
The EFL have handled the whole situation badly, their fit and proper persons check is a joke, but both Bury and Bolton have been on going situations for months (in Boltons case longer) and only when the shit really looks like hitting the fan do the people with the real power to sort it pull their finger out their arses. Feel for the fans of both clubs right now as they're powerless and in a situation no football fan would want to be in if it was their club, just waiting and hoping.
 
Agree it makes some feel sick, but, football is running out of philanthropists to keep all the wheels on the wagon. This almost certainly the tip of the iceberg, there are according to some reports a number of Football league just keeping their heads above water. Insolvency looms.
Another post (rightly) cautioned against relying on "sugar-daddies" ......
.....but aren't their quite a few ex-footballers who could clear Bury's debts by themselves ? (£ 2.4million IIRC)
Especially near Manchester.

Isn't Salford City a model ?
 
For me, in my early days of football it was always considered as a 'working man's' sport. Players earnt similar wages to your parents and you could pay for a programme and to watch by spending some of your pocket money.
What the Premier League has now become has disintegrated that former experience to such an extent that it is now in fantasy land. £72m transfer purchase by Arsenal for Pepe just emphasises how far that divide has become.
 
This is the end result of the greed of Rick Parry ,Liverpool, Arsenal and Man Utd. They wanted the Premier League they wanted the Sky deal they caused the problem we in the lower leagues now reap the rewards of their greed.

When the most valuable game in football is the playoff place for the Championship something is wrong. When Stoke had a larger transfer budget than Bayer Leverkausen some is wrong.

When Bournemouth are a premier League club with no desire to build a bigger stadium something is wrong.

The next step will be a European super league and no relegation or promotion to it of from it. Its what the US owners want and why they are in UK football because the value of the clubs will reach NFL levels.

The FA need to wrest control of our game from the big owners and greedy CEO's and impose wage caps and player limits and academy size limits.

Stop this nonsense and do it NOW.