League 1 - Bolton, Bury & Coventry

There was a loan secured against Bury's ground with 138% interest. Apparently paid off by a different loan from a offshore registered company for 40% more than the original debt. The extra money didn't go to the club, was paid in "finders fees"...
You couldn't make up this level of dodgy, and it is (even more) clear that the regulation of football club finance is non existent.

Hardly a surprise when the 'top' team in the country channels millions through a 'fake' shirt sponsorship deal, and when caught out their only responses were the evidence was stolen, and we have more money for lawyers than you.

Sky sports news reporting that Bury have been withdrawn from the EFL

Edit - confirmed https://www.bbc.co.uk/sport/football/49451896

Bury gone.


Awful for the town, fans and staff. Nevertheless, the charade can’t continue any longer.

Bolton given 2 weeks.

Terrible news for them.
So disappointed for the fans.

Horrendous news for Bury FC and it’s fans.

is a joke efl to blame too .

Bolton Wanderers seem to me to be getting the softest treatment by the EFL.
They have had all this time to sort out their financial position and still they get yet another reprieve.?

Absolute disgrace this has been allowed to happen, the whole of football should bow it's head in shame as they've watched the rich get richer.
listening to some of those pundits talking and how important it is to save clubs like Bolton and they didn't care about Bury.
The tv companies should have a good look at themselves too, pouring money into clubs at the top end and sat back watching the gap get bigger and bigger.
Sport with a level playing field,don't make me laugh !!!
This could be the start of the breakup of the football structure in this country
My heart goes out to everyone connected with Bury and football let you down.

Sadly this had to happen. Feel for everyone associated with Bury. They did nothing to deserve this, even if there was no other choice.

Bolton getting all this special treatment after Blackpool got away with effectively going into administration last season, though... it’s scandalous. Not only incompetent in letting situations like these get to this point, but not even consistent in their approach. The EFL truly is a total disgrace from top to bottom.

Really feel for Bury fans, it must be devastating.

I seem to remember hearing they still had potential buyers registering their interest with the EFL as late as this evening, so I don’t know why the EFL couldn’t just give them until the end of the season to find a buyer, and tell them that they have to forfeit the games that have been cancelled, as 1-0 defeats, and any other postponed games forfeited throughout the season, and if it results in relegation, so be it. At least that way, they may be virtually guaranteed to be relegated, but may have found a buyer by the end of the season, so at least they’d still exist!

I don’t know how it works, but I do know it bloody stinks, and just goes to show how the EFL and FA need to stop allowing cowboys to buy football clubs, otherwise this kind of thing will happen more and more often, especially to lower league clubs, as they don’t have bottomless pits of cash like clubs in the premiership, and can’t survive the incompetence of useless charlatans.

Fingers crossed for Bolton...

they need to invest more sponsership money in the lower leagues and stop pumping ss much at the top .

Oufc director Zaki Nuseibeh talking a lot of sense on sky sports news.

After initial concerns from a lot of fans (myself included) over the last couple of seasons, I’m starting to feel we may have been pretty lucky landing the board we have after all. ?

Gary Baldi said:

Why did the Neville's & Co put all that money into Salford when Bury is their local club? Regardless, it's a sorry affair and late bids are only going to compromise the league while they are concluded, or not. The debt isn't going away, Dale is quite clear about that and why would anyone put millions into Bury when they can start again lower down for less money?

Click to expand...

Given the Neville family have been so outspoken of their support for Bury, maybe, now the worst has happened, they should now take a leaf out of the Wimbledon / MK Dons book:
Rename the plastic Salford City to Bury AFC and relocate them to Gigg Lane.
(Don’t hold your breath).

Bury have lived beyond there means though in recent years. The signing of Maguire is a good example as they made him an offer that we couldn’t match and he wasn’t the only one either.
Looking at it harshly, it was inevitable that this would happen. Some of these owners are either deluded or crooks and just seem to get away with it.

MiddleBartonYellow said:

Bury have lived beyond there means though in recent years. The signing of Maguire is a good example as they made him an offer that we couldn’t match and he wasn’t the only one either.
Looking at it harshly, it was inevitable that this would happen. Some of these owners are either deluded or crooks and just seem to get away with it.

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And Jermaine Beckford.

I feel sorry for bury especially when Bolton keep getting another chance I wonder if rolls were reversed and bury were the bigger team would Bolton of gone and bury another chance seems EFL want to keep Bolton for some reason

Ironically Bury striker Jermaine Beckford retired from football yesterday.
There were reports back in 2017 that he was on a package of around £10k per week
when he signed for the Shakers.

Not sure if anyone saw The Debate on SkySports last night but sounded like they were also fearful 10-25 clubs could go - they mentioned there were too many loopholes and ways for clubs to break rules (issuing shares) on spending/talked about the 106% spend on wages/mentioned the ground being used as collateral against a loan at 132% pa interest but didnt go nearly far enough in criticising the EFL far a lack of stewardship. They talked about how chairmen can put in £5m into a CH club and endebt the club to the wall and then walk away if their 10-1 gamble on reaching the promised land doesnt work, but also didnt criticise the EFL strongly enough.... they suggested that in this season there could be clubs spending 120%+ on wages. What was scary was seeing that caption - Premiership spend about 50% (despite clubs having players like Sanchez earning £500k a week and not even playing), CH was the 106 but L1 was 96 and L2 not far behind!!! What that shows is how MUCH money is at the top and how little flows down (given that average earnings in L2 must be less than 2k a week) - all from TV rights - the lure of big bucks is like the Apple in the Garden of Eden..... "you snooze you lose" also comes to mind..... If grass roots is to survive then there needs to be a huge rethink and the EFL should be banging this drum. It shows how big the REAL gap between divisions is and how quickly it is widening. From a commercial perspective, chairmen have to continue taking these crazy chances, which can easily bankrupt a club, unless they are content to continue ploughing millions in to sustain a cub each year. I can only assume the EFL are compliant in a grander plan to break up the structure of a 72 team FL or they would be making the case for more TV cash/levelling the playing field and taking away the need for clubs to risk all on a promotion/bust strategy - the EFL cup is a disgrace when it becomes a liability of clubs to staff/police/pay players - how on earth can any organisation with the interests of lower leagues at heart offer no prize money until the final/latter stages!! Do they really expect any EFL clubs to be able to pick up the ANY prizes let alone the major ones? The EFL are a disgrace - the way Football has become is a disgrace - keep the bed warm Bury, but you will soon need to share the duvet