Hate how sky are covering it. As if it's transfer deadline day rather than people's livelihoods.
Bury - EFL to discuss re-entry to L2 | and Bolton - sold
- Thread starter jojojo
- Start date
-
In the latest episode of the United Hour Podcast, Nik and Imran hold a long overdue conversation about United's awful league form with 1 win in 7. They discuss a disappointing draw at Bournemouth, a not so disappointing draw against Liverpool and a crushing defeat at Chelsea - Is time nearly over for Erik Ten Hag?
Then in a special second half of the pod, Nik welcomes Natalie ( https://twitter.com/natalie_17) to discuss the fortunes of Manchester United Women as they booked a place in the FA Cup Final after a historic first ever win vs. Chelsea.
Yeah it's shite. There are people whose whole lives revolve around those clubs and people are laughing about it.
Tweet
— Twitter API (@user) date
Will anyone coming in very last minute, be a Dale-type smelling something in it for them though?
Bolton "fans" outside the stadium doing fortnight dances and jumping and waving in front of the camera, as their club is on it's deathbed. Sky with their deadline clock. The state of modern football.
People all over twitter saying us and City should have bailed them both out. Sets a bad precedent though doesn't it. What in the feck happened with Bolton? They were a top 10 Premier League club ten years ago.
People all over twitter saying us and City should have bailed them both out. Sets a bad precedent though doesn't it. What in the feck happened with Bolton? They were a top 10 Premier League club ten years ago.
Tweet
— Twitter API (@user) date
Really awful seeing the Bury fans at the ground. They were in such great spirits this morning, cleaning the ground up, getting the stadium ready to play. Now they just look desolate.
I wouldn't bet on them being fans. Given where the ground is there will be a lot of bored kids around.
Joseph Cala?!?! Didn't he nearly ruin Gateshead?
Why on earth should two totally different clubs bail them out!?
Would the bbc be besieged with similar calls if Virgin radio was going under?
The problem with a bail out by the FA/other clubs is it sets a precedent, and will mean other dickwad owners know there is a last resort for their messing about.
Where have these bids come from so late on! Wowzers.
And how long are they going to keep extending deadlines?!
Who knows. There were several bidders earlier on - most of them gave up when they heard Dale's price or heard Dale's price combined with the mortgage etc. If the price has gone down, some of them may look again.
What is the mortgage thing about? A high rent on the ground that has to be met?
The previous owner (Stuart Day) who did most of the overspending, managed to bankrupt his real (student housing) business as well, but it was him who took out a loan against the stadium. All we know is that at one stage the loan was at 10%/month interest! The main mortgage is now held by one of these classic magic money chains that involves a company in Liverpool, owned by a company in Malta whose investors are companies in the British Virgin Islands.
The Guardian had a look at the mortgage structure back in the summer https://www.theguardian.com/footbal...ncial-ruin-winding-up-petition-loans-car-park
Including the grim fact that 40% of the money borrowed was given to a third party as an "arrangement fee".
The thing that seems to have killed the Sporting Risk deal appears to be yet another odd book entry - rather than the original mortgage, or maybe the two are interrelated in some way.
"Previous owner Stuart Day had done a deal with a firm for a seven figure sum in exchange for a rental of car parking spaces and land around Gigg Lane."
According to https://www.thesun.co.uk/sport/foot...twitter&utm_source=Twitter#Echobox=1566917484
To which all normal human beings can say is err, yeah, you what?
He DID ruin Gateshead. They were suspended last season the National League due to financial irregularities.
He’s also previously failed the “fit and proper” test with other clubs. No chance of that deal happening.
Ivan Lewis the MP..... wonder if he’d have to stand down should that deal go through!?
Perhaps a Michael Corleone type can send some boys around to have a quiet talk with Day & Dale. I am sure they would come to an appropriate agreement pronto. That is the only thing scumbags like these two understand, as the law wont do anything.
Somehow, according to Twitter, this is United and Citys fault!
Yeah I've just read that myself. Our fault cause we didn't bail them out? Heard it all now.
Tweet
— Twitter API (@user) date
A couple of "make of it what you will" stories running from the Bury camp. The Bury North MP (Frith) who's been involved for weeks and brought the Sporting Risk bid to Dale is arguing for another extension and says that the 4 bidders all existed on Friday, but the EFL only wanted to deal with the "preferred bidder" - hence he says they didn't give the backup bidders enough chance - true/false who knows.
Meanwhile Radio Manchester who've been close to this for weeks says that one of today's bids was presented via the other Bury MP (Ivan Lewis) and that bidder may have been talking to Jill Neville. As a sidenote Jill is reported to have been at Carrington today, for some reason. That doesn't necessarily mean United's Carrington
in fact it's more likely to be City's old training ground which is where Bury were training until they stopped paying for the utility bills and pitch maintenance.
Meanwhile Radio Manchester who've been close to this for weeks says that one of today's bids was presented via the other Bury MP (Ivan Lewis) and that bidder may have been talking to Jill Neville. As a sidenote Jill is reported to have been at Carrington today, for some reason. That doesn't necessarily mean United's Carrington
in fact it's more likely to be City's old training ground which is where Bury were training until they stopped paying for the utility bills and pitch maintenance.Hate to say it as it’s very sad for both clubs but this charade has gone on for too long now. It’s frankly not fair on the rest of League One for both clubs being in this situation.
The clubs quite clearly need to drop down the leagues and start again. It’s the sad truth.
Both clubs have spent beyond their means for years, who’s fault that is will be up for debate. One thing is for sure the FA as a governing body are a disgrace for allowing such situations. Does the FA not check a set of annual accounts? It’s not particularly difficult. And if the accounts have been falsified the owners should be held accountable.
The clubs quite clearly need to drop down the leagues and start again. It’s the sad truth.
Both clubs have spent beyond their means for years, who’s fault that is will be up for debate. One thing is for sure the FA as a governing body are a disgrace for allowing such situations. Does the FA not check a set of annual accounts? It’s not particularly difficult. And if the accounts have been falsified the owners should be held accountable.
Bury expelled
Sad day for the fans
Sad day for the fans
So much for those new offers for Bury
Sad day for football
Sad day for football
It isn't the fault of United or City in particular, but it certainly highlights the inequality that exists in football finances. The vast sums coming into the game at the top level are now spent on inflated salaries and agents fees, and the clubs in the lower divisions are being left to wither on the vine. Running a lower league club as a sustainable business is difficult, particularly if one tries to balance the need for financial prudence with any kind of sporting ambition. I fear we will have to get used to clubs disappearing unless a lot more is done to adress the financial imbalance between the elite and the rest. The problem is that the elite clubs don't yet see any such moves as being in their interests, and the top players and their agents are quite content to see things continue as they are.
There is enough money coming into the game to maintain a healthy 92 club structure if only it was distributed with the good of the game as a whole in mind rather than the narrow interests of the elites.
This looks like being a sad day for lower league football, and for everyone connected with Bolton and Bury in particular. I think it may just be a sad day for the sport as well. The bankruptcy of long established clubs leaves the whole game poorer.
Tweet
— Twitter API (@user) date
Terrible for Bury fans. A really cruel day, because it started with such a sense of optimism as volunteers prepared the stadium to play in and ends with this.
Yeah but amongst all your waffle it still isn't Man United, or City's fault, which was the point.
It might sound grim but I'm sure the Bury supporters will pull together and actually enjoy what the future brings because they will have direct involvement in the club.
I could be wrong so if someone could correct me but wasn't Dortmund in a similar situation years ago and Bayern stepped in and saved them?
Good night sweet prince.
It's a mark of what happens when you treat football clubs as just another business. If it's just another business then it can be bought and sold, fragmented and mortgaged - and it can go bankrupt because of one owner.
When owners fail, whether from greed or naivety, or their other business/source of funds gets into trouble - it can take a couple of years for that to be visible in the accounts and even longer for the EFL to notice. If it becomes visible at all, the obscurity of some of the company structures are great for hiding loans and debts, and some of the outings and money movements as well.
If anything good can come from this, it will be because a lot of it's been conducted in public. It's not just Steve Dale who stands accused of being a vulture (and apparently an incompetent vulture in that the carcass looks worthless) and Stuart Day of being incompetent. It's the EFL who let it happen who stand accused.
New rules are needed and big changes. The EFL needs to define what a club means, and it can't be down to a single owner to decide whether a club lives or dies.
When owners fail, whether from greed or naivety, or their other business/source of funds gets into trouble - it can take a couple of years for that to be visible in the accounts and even longer for the EFL to notice. If it becomes visible at all, the obscurity of some of the company structures are great for hiding loans and debts, and some of the outings and money movements as well.
If anything good can come from this, it will be because a lot of it's been conducted in public. It's not just Steve Dale who stands accused of being a vulture (and apparently an incompetent vulture in that the carcass looks worthless) and Stuart Day of being incompetent. It's the EFL who let it happen who stand accused.
New rules are needed and big changes. The EFL needs to define what a club means, and it can't be down to a single owner to decide whether a club lives or dies.
Its this type of shit FFP should be preventing, not genuine ambitious owners having the gall to come into clubs to challenge the status quo (most of which needed what passed as heavy backing in the day to get to the top themselves).
Listening to TalkSport at the moment and Bury fans calling in, it's heartbreaking.
What league will Bury compete in now or do they have to wait for next season and start from the conference/conference North or even lower?
It's hard to tell at this stage, it very much depends on whether they can get the ground situation sorted out and get sufficient funding for the vanarama leagues to accept them. Chances are they will have to start at the bottom of the pyramid.
I am wondering if this will affect relegation and promotion from League 1, 2 and the conference as well as the EFL are a team light.
BBc said only 3 teams from league 1 will go down
It will just mean one less team gets relegated from the League.
Presumably an extra promotion place from the conference or one less relegated. They say they'll come to a ruling on the details (like whether the extra place will be allocated on position or playoff etc) at their September meeting.
There have been suggestions that Bury could be allowed to join League Two next season having sat out this year. But I think that's all just pure speculation and a lot of wishful thinking.
Ah ok, thanks guys. I'm at work so i am listening to TalkSport (And researching Tonbridge Angels for my commentary on Saturday)