How much did Bury FC owe?

On 27 November 2020, Dale placed the club into administration, with Wiseglass appointed administrator. In January 2021, a Nottinghamshire-based businessman and investor in Ilkeston Town, David Hilton, was reported to be interested in buying Bury F.C., which was said to have debts of over £15 million.

How much debt are Bury FC in?

An outstanding debt of £70,000, from Bury FC to the company, was identified, and while £28,333 was paid in lieu of this, £41,666 remained outstanding. Administrators say it is no longer viable to recoup the sum, which has effectively now been written off.

Who do Bury FC owe money to?

In July a company, RCR Ltd, owned by the partner of Dale's daughter, bought for £70,000 a £7.1m debt Bury owed to Day's property company, Mederco, which had collapsed into administration.

How did Bury FC get into debt?

Bury F.C. reportedly owed close to a $1 million in back taxes and had debts of over $9.7 million amid reports players had been paid late. The club had racked up millions of debt under former owner Stewart Day who sold the business to businessman Steve Dale for just £1 in December.

How much did Bury owe?

The club survived HM Revenue and Customs (HMRC) winding-up petitions in the High Court In December 2019 and February 2020, but in November 2020, the club was finally placed into administration. It has since been reported that it owed more than £12.2 million in unsecured debt.

Is Bury FC still a football club?

Bury, who were formed in 1885, were wound up at the start of the 2019/20 season after being unable to fulfil their first five league fixtures. They became the first team to be expelled from the Football League since Maidstone United back in 1992.

Who owns Bury FC ground?

In February 2022, the Est. 1885 fans' group completed a deal to purchase the entire property. They also acquired the trading name and memorabilia of Bury F.C. The new owners formed the company Gigg Lane Stadium Limited and stated their intention to reopen the ground as a football venue by August 2022.

Did Bury FC get liquidated?

It is just over 12 months since Bury Football Club were expelled from the English Football League having failed in their bid to secure a buyer.

Why did bury go out of business?

Bury's demise ultimately comes down to economics and bad financial management. The problem with football is that clubs are private enterprises. And yet they are not run like normal companies. Instead of maximising profits, their aim is to maximise success on the pitch.

Why did Bury FC fail?

The club failed to play the final fixture of last season because the players were on strike over unpaid wages and couldn't participate in the first game of this season because it didn't have enough senior players – a further points deduction is anticipated for that transgression.

What did Steve Dale do to Bury?

Dale had nominated Wiseglass to oversee a compulsory voluntary arrangement (CVA) to pay off Bury's debts, but the club defaulted on the plan in February. He says the intention is to "enable the company to exit administration and seek readmission to the football pyramid system in time for the 2021-22 season."

Are bury coming back?

'We are coming back' – Bury OUT of administration after fans buy club and Gigg Lane following EFL expulsion. BURY FC have officially announced that they are out of administration. And they will return to playing at Gigg Lane in a huge boost.

Why are Bury called the Shakers?

Bury FC are called the Shakers because, when back in 1896 still being a relatively unknown club, the Chairman at the time – a certain Mr John T Ingham – decreed at one match against a team that was supposedly much better than Bury, “We shall give them a good shaking.

Does Macclesfield Football Club still exist?

Founded in 1874, Macclesfield Town was liquidated and expelled from the National League in 2020 because of debts of over £500,000. Its assets were put up for sale, including the Moss Rose stadium on the Rightmove property website.

Who is Steve Dale Bury FC?

BURY AFC have won their battle to prevent controversial businessman Steve Dale trademarking the Bury FC badge in his name. In July 2020, the Bury FC owner applied to the UK Intellectual Property Office (IPO) to register a trade mark containing the crest of Bury FC and which included the town of Bury's coat of arms.

Does Steve Dale still own Bury?

Former Bury FC owner Steve Dale's son acquired club's trophies, administrators claim. The administrators of Bury Football Club say former owner Steve Dale's son has acquired the team's old memorabilia, including trophies.

What happens if a football club liquidates?

The club will be deducted at least 10 points. If the CVA is rejected, as happened before in the case of Leeds United when the administrator sells to a new buyer, then a further points deduction is made - often 15 points. This led to two relegations for Leeds.

Will Bury FC play at Gigg Lane?

"This will return football to Gigg Lane and our aim is under the name Bury FC." Speaking to BBC Radio Manchester after the announcement, Matt Pickup of Est 1885 said that all parties were working on a target of football returning to the ground in August of this year, in time for next season.

Where is Bury FC now?

Two and a half years on since Bury FC lost its league status the club name, memorabilia, and historic ground have been bought by a fans group, who have a target of the 2022/23 season for bringing men's football back to Gigg Lane.

Why did rangers get demoted?

Prior to Friday's vote, there had been talk regarding the creation of a new 'SPL 2' were Rangers sent down to the Third Division as a way of speeding up their return to the top-flight and so preventing a major financial hit for all of Scotland's leading clubs.

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