Nobby_66
Vital Football Hero
I also noted this on that thread, sound familiar???????Nicked from the Shrewsbury Fans Forum back in April:
Read more: http://blueandamber.proboards.com/thread/99031/bury-again?page=2#ixzz5wVmsG1nh
I also noted this on that thread, sound familiar???????Nicked from the Shrewsbury Fans Forum back in April:
Read more: http://blueandamber.proboards.com/thread/99031/bury-again?page=2#ixzz5wVmsG1nh
The FA and EFL need to show some balls here - this is ridiculous. Obviously Bury are completely fcuked. They must act - the apparent deadline is 23 August but surely nothing can change by then. It gives me no pleasure to say it and I have nothing against them but Bury have to go sadly.Rotherham game now off. How much longer can they let this go on, on both sides of the argument.
Until 23rd August, which is the deadline the EFL has given them to show they can fulfil their financial obligations under the CVA and for the season.Rotherham game now off. How much longer can they let this go on, on both sides of the argument.
You are correct about the 23/8 cut off date, but the EFL also have to make a decision before 23/8 about Bury's next opponents Tranmere with that game scheduled for 24/8. Clearly it is beyond hopeless.Until 23rd August, which is the deadline the EFL has given them to show they can fulfil their financial obligations under the CVA and for the season.
You are correct about the 23/8 cut off date, but the EFL also have to make a decision before 23/8 about Bury's next opponents Tranmere with that game scheduled for 24/8. Clearly it is beyond hopeless.
While there are statutory rules and regulations concerning the conduct and performance of companies and directors, it can be difficult therefore for the EFL to intervene other than to specify rules for a company to operate in the League. The fit for purpose rules are at best scant but to some extent the EFL's hands are tied. If a person buys a club and has a history of [say] asset stripping - all legal and above board in terms of statutory regulations - what can the EFL do? The idea that people buy a company for £1 is something of a myth; it is the consideration for the contract of purchase because the buyer often takes on liabilities and has to give [say] personal guarantees or put up his her house as collateral. Maybe the new owner should be required to put in an appropriate amount of working capital - not a legal requirement but could be a condition of joining the EFL.Feels very weird having a Saturday where I'm thinking mostly about a team we have been stopped from playing because they are on the point of destruction.
Our own chairman bought our beloved club for a pound in similar fashion to how the Bury 'owner' bought their club. Our chairmain set about tackling the debts and rebuilding the club. Mr Dale has, it now appears, just tried to make a quick buck and is fine with the club being liquidated if he doesn't get it.
Still hope for some last minute good news for Bury but not truly expecting it.
That would make sense as long as it's applied without exception. Moreover, such a rule would have to be a condition of EFL membership as I doubt it can be applied under Companies/Insolvency Acts.The EFL need to change the way they operate. As others have said the fit and proper persons act is a complete waste if time. What they should do is get every club owner to give a legal commitment that their club have the finances to complete the season before the season starts. If the club is sold during season the new owners must undertake that commitment as part of the deal. Failure to complete the season or fixtures within the season would leave the owner/chairman open to legal action from the EFL.
Bury owner Steve Dale rejects the offer to buy Bury, so it looks like DOOOOOOM:
https://www.bbc.co.uk/sport/football/49410172
Actually, to be fair to Lark, demote is ok as we use the term "promote"."Demote" following on from another thread- "Relegate".