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Bury

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Stew0_0
August 23, 2019, 5:48pm
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Not being mean but how many chances did Rushden and Diamonds and Darlington get before they were shut down. Bury seem to have had reprieve after reprieve.
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GollyGTFC
August 23, 2019, 5:54pm

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Quoted from Stew0_0
Not being mean but how many chances did Rushden and Diamonds and Darlington get before they were shut down. Bury seem to have had reprieve after reprieve.


A Non-League club goes out of business and it's not important even if they were very recently in the EFL. An EFL club goes under and it's a disgrace and it's all the EFL's fault & it's not fair on the fans blah blah blah.
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GollyGTFC
August 23, 2019, 5:58pm

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Quoted from Gaffer58
GollyGTFC, I understand there are companies that buy up blocks of dept at the equivalent of a penny for a pound, so a £100 pound dept costs £1, they then hope to get this d pt paid his making a tidy return.


The issue is that this company was purely set up to acquire the debt and then had control of the CVA process through their share of the total debt. They are able to make a tidy profit whilst HMRC have had a settlement imposed on them that sees the public purse lose out to the tune of £830,000.
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Mighty_Mariner
August 23, 2019, 5:59pm
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So am I right in thinking Dale bought the club for £1, put very little oh his own money into the club but now will be paid between £900k and £3m once it is sold?


"They shall grow not old, as we that are left grow old, Age shall not weary them, nor the years condemn, At the going down of the sun, and in the morning, We WILL remember them"
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GollyGTFC
August 23, 2019, 6:04pm

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Quoted from Mighty_Mariner
So am I right in thinking Dale bought the club for £1, put very little oh his own money into the club but now will be paid between £900k and £3m once it is sold?


He'll receive whatever he gets for the club itself (he was demanding £800,000 until recently) & £920,000 as the CVA is serviced at a minimum.
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IlkleyMariner
August 23, 2019, 6:06pm
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Quoted from Mighty_Mariner
So am I right in thinking Dale bought the club for £1, put very little oh his own money into the club but now will be paid between £900k and £3m once it is sold?


Presumably some bury fan chose to sell the club to Mr Dale and now does not want to accept responsibility for his actions.

Also presumably the EFL were consulted on the fit and proper person test for Mr Dale so they are implicated.

At the end of the day the fans suffer and the power brokers move on to their next dirty trick.
We will probably never find out the truth, but the fact remains that Bury gained promotion by paying unsustainable wages and should be let go.
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GollyGTFC
August 23, 2019, 6:19pm

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I think the EFL have done all that they reasonably could. I keep reading on twitter that the EFL "should give an extension". No. Bury were served with their 14 day notice period 4 weeks ago. They already had an extension when it was suspended for 14 days. At some point you have to say "enough is enough" and expel them.

The punishment for insolvency events needs tightening up. Automatic demotion.

Loans from companies owned by club owners should be banned also. Bury FC owe around £11m to one of the previous owners companies.
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Mallyner
August 23, 2019, 8:35pm
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I saw recently that last season, against the rules of gate income to wages, Bury were paying about two and a half times the wages the average division 2 side were.


Supporting Town for 65 years.  
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IlkleyMariner
August 23, 2019, 8:42pm
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Quoted from Mallyner
I saw recently that last season, against the rules of gate income to wages, Bury were paying about two and a half times the wages the average division 2 side were.


Exactly
That’s why they have gone bust
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Stadium
August 23, 2019, 9:21pm
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“There's nothing wrong with the car except that it's on fire.”- Murray Walker
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