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psgmariner
June 19, 2019, 9:46am Report to Moderator

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Not looking good for them. In court at 1030.

https://www.burytimes.co.uk/ne.....in-bid-to-save-club/

Not sure what happens to the league places if they go pop.


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Hagrid
June 19, 2019, 9:59am Report to Moderator

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3 go down this season from league 1 if so I believe
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psgmariner
June 19, 2019, 10:00am Report to Moderator

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That would make sense. Always seems to be a last minute solution to these things but they are in a proper mess.


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Ipswin
June 19, 2019, 10:02am Report to Moderator
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Quoted from psgmariner
Not looking good for them. In court at 1030.

https://www.burytimes.co.uk/ne.....in-bid-to-save-club/

Not sure what happens to the league places if they go pop.


They won't go pop, these clubs never do. They'll make all sorts of promises about a new regime taking over and paying the debt. There will be an adjournment, someone will find some money from somewhere and it will be business as usual next week a la Bolton and all the others. Mind you it sounds like the main creditor Capital Bridge might not be as soft as HMRC

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psgmariner
June 19, 2019, 10:37am Report to Moderator

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Adjourned for 6 weeks.


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1mickylyons
June 19, 2019, 10:39am Report to Moderator
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Quoted from psgmariner
Adjourned for 6 weeks.


Always the case
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Marinerdan
June 19, 2019, 10:46am Report to Moderator

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Looking at Companies House Capital Bridging have a charge over the stadium, it’s not clear how much debt there is to them as their 2018 accounts are late to be filled which is always a concern. Secured lenders to loss making businesses don’t tend to be willing to hang around for their money.

2016 and 2017 Bury lost c2.5m a year. They only had 2k in cash at the end of 2017. Totally unsustainable way to run a business.

Sadly unless someone is willing to throw a few million at them to keep them going it looks like they are in real trouble of disappearing.




Vér hǫfum vaðnar leirur   vikur fimm megingrimmar;

saurs vara vant, er várum,   viðr, í Grímsbœ miðjum.
Nú'r þat's más of mýrar   meginkátliga látum
branda elg á bylgjur   Bjǫrgynjar til dynja.
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Malta_Mariner_90
June 19, 2019, 11:08am Report to Moderator
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The below article is from 2002.They are serial offenders in financial mismanagement. Seemingly going from one bad owner/s to the next.

https://www.independent.co.uk/.....buckets-9167258.html

I also remember going to the away match there in 04/05 season when they had loads of fans turning up from other clubs in a bid to raise cash for another financial crisis.

I am not sure how many times they have had money trouble over the years but it is a recurring theme, they wrack up loads of debt, manage to escape their creditors and repeat.

If the FL had any backbone at all they would sorted it back in 2002.  

EDIT

Also from the article:

"At Bury, successive promotions in 1996 and 1997 were bankrolled by Eaves, who later confessed to having misspent funds he was managing, and solicitors were appointed to recover all his assets, including Bury."

Just taking the urine. Pretty much the same thing happened this season, no way on earth could they afford the players they have.
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KingstonMariner
June 19, 2019, 11:28am Report to Moderator
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Until serial offenders are dealt with properly, there will never be anything approaching a level playing field (yeah I know we'd still have clubs like FGR and Salford to contend with). But if we cut out examples like Bury at least most clubs should be able to revert to sustainable spending. Until that happens, clubs like us will continue to be penalised for balancing the books.


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Croxton
June 19, 2019, 11:54am Report to Moderator
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Get rid now. Re do fixtures. Send them to Sunday league. Beyond a joke.
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rancido
June 19, 2019, 12:05pm Report to Moderator

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Compared to them we seem to be run quite well, at least within our means. (ducks behind parapet waiting for the assault)!!!


The Future is Black & White.
"The commonest thing on this planet is not water , as some people believe, but stupidity ". Frank Zappa
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Civvy at last
June 19, 2019, 12:29pm Report to Moderator

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Quoted from rancido
Compared to them we seem to be run quite well, at least within our means. (ducks behind parapet waiting for the assault)!!!


Shouldn’t have to duck. You are stating a fact.

However.....

If I live on an estate where my house potentially should be in the top 20% but is in the bottom 20%. Do I compare mine to the sh1tholes in the bottom 5% and say I am better than them?

Would this not just be hiding the fact that my house is not as nice as it should be ??


You just have to accept that in life:

Some days you are the pigeon.

Some days you are the statue.


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jock dock tower
June 19, 2019, 12:45pm Report to Moderator
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Wind the club up, come back as a phoenix set up and come back up through the lower leagues. They'll get good crowds and be successful.


No attempt at ethical or social seduction can eradicate from my heart a deep burning hatred of the Tory party. So far as I'm concerned they're lower than vermin. Aneurin Bevan.
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TonySmith
June 19, 2019, 2:35pm Report to Moderator

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  You have to feel bad  for the players and the supporters in situations like this. The financial mismanagement of a club has nothing to do with them, and they are the people really affected by the consequences. Imagine how you would feel if Town won promotion and a few weeks later were faced with the prospect of demotion through several leagues or even extinction.
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diehardmariner
June 19, 2019, 2:55pm Report to Moderator
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Quoted from Malta_Mariner_90


I also remember going to the away match there in 04/05 season when they had loads of fans turning up from other clubs in a bid to raise cash for another financial crisis.



Was that the same game when they brought Dean Kiely out to do the half-time draw and he started winding the Towns up for the sake of it?
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The_Laughing_Mariner
June 19, 2019, 4:42pm Report to Moderator
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Was he the one Andy Todd smacked


<'(((((<

When I was a little boy
I asked my daddy what would i be
would I be United, would i be Leeds
Here's what he said to me

Oh Grimsby Grimsby
Whatever will be will be
You'll follow then faithfully
Oh Grimsby Grimsby


Tell me Mam me Mam
I dont want no tea no tea
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Tell me Mam me mam
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Malta_Mariner_90
June 19, 2019, 4:49pm Report to Moderator
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Quoted from diehardmariner


Was that the same game when they brought Dean Kiely out to do the half-time draw and he started winding the Towns up for the sake of it?


Yes! I still remember the Kiely is a male masturbator chants at half time

Also notable for Kazim-Richards scoring twice I think, went on to play for Turkey 37 times. I think David Nugent was still up front for them as well. So again in financial crisis but still had decent players.

EDIT

Kazim-Richards was their youth product so maybe he did not cost too much.
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KingstonMariner
June 19, 2019, 9:05pm Report to Moderator
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Quoted from TonySmith
  You have to feel bad  for the players and the supporters in situations like this. The financial mismanagement of a club has nothing to do with them, and they are the people really affected by the consequences. Imagine how you would feel if Town won promotion and a few weeks later were faced with the prospect of demotion through several leagues or even extinction.


Not necessarily. Take a job that pays over the odds (and company already in debt) and you have an inkling. Done it myself- only had myself to blame.

Same with fans. It’s not exactly impossible to find out the financial state. Must have been reasonably common knowledge. Even if people are ignorant first time round they should start taking an interest after the club nearly folded.


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Ipswin
June 19, 2019, 9:20pm Report to Moderator
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Quoted from rancido
Compared to them we seem to be run quite well, at least within our means. (ducks behind parapet waiting for the assault)!!!


I imagine that right now they'd be delighted to have someone like John Fenty to come in with a benign loan.

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arryarryarry
June 19, 2019, 11:37pm Report to Moderator
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Quoted from Ipswin


I imagine that right now they'd be delighted to have someone like John Fenty to come in with a benign loan.



At least they couldn't blame financial dodgy dealings for getting kicked out of the Football League.
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