I might be swimming against the tide, but I have little sympathy for Bury. Tried to chase the dream and gained promotion last year using money they didn't have and loans they couldn't properly fund. The fella who owns them thought that he could wash his hands of the debts by entering into a IVA and basically carry on. I bet on promotion day the fans didn't really care how they got there and any possible future problems. I do have an issue with the "fit and proper" person test as it's obviously not "fit" for purpose and the whole governance for lower league football is flawed in my opinion.
I have sympathy with clubs who have been sold to people clearly with poor intentions who the FL merrily wave through then accept no responsibility for the various clubs going close to bust. If it’s not Bury it’ll be someone else soon. Could easily have been Charlton or QPR at different times.
Having read up on the detail, the plank who bought them for £1 was asking for over £800k for his shares, to reflect the ‘hard work’ he’d put in over the last 9 months, what a gready donk. That ignored the debt btw. Had he merely offered the club up for the £1 he paid with the new owner taking over the debt, then I doubt they’d be where they currently are. Looking at his background he’s been responsible of over 40 companies going tits up, how the **** did this bloke pass the FL fit and proper persons test ffs?
We've been there on several occasions over the years, which is why I probably have less sympathy than others. The FL need to take a hard look at themselves as just about every football club in the lower leagues, is one set of financial results away from trouble. However, clubs also need to take responsibility for their own actions. You can't spend what you ain't got!
Have you seen the clubs Shaun Harvey was involved with before getting the Football League gig? Also, ****ing ‘EFL’. Which marketing genius came up with that?
This does seem a strange decision by the FL to allow an owner with a track record of failure, but the club was still borrowing money they didn't have to fund a dream. Most fans are pretty clued up on the owners these days, but we're happy to turn a blind eye because they had a good season.
The 2 issues go hand in though tbf, as a responsible owner doesn’t strap a club up with unsustainable debt, if they want to ‘fund the dream’ then it should come out of their own pocket without repayment terms, and converted into equity. This bloke has a long track record of business failure, and shouldn’t have been allowed anywhere near that club.
How about you calm down you crap moderator, I’ve actually been to Manchester you smart arse, Now pipe the f(u)ck down down and stop abusing people on here, Dickhead.
no they will throw them out of the league and presumably even if "new club" is formed they will only play next season.
