This is a joke, right?
We're into the realms of guesswork in a game of chicken there. On the face of it, the club's only assets are its name and the FL membership and there's a lot of debt attached to all other assets like the stadium - maybe around £10m needed to get the club back in new ownership and into playing action?
Just by way of comparison between life amongst the minnows versus life amongst the big fish like us. An accumulated profit/loss rendition of the clubs currently in the top two divisions that caught my eye.
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I saw a few numbers in this article after his TalkSport interview - debt level of £13m is mentioned, that can usually be negotiated down though with creditors ready to take a cut rather than get nothing
That's the bottom line I think. There's no football business case for anyone to buy Bury and even sympathetic rescuers would find it hard to operate the club at break even, so buying the whole debt would be just dead money - almost literally a labour of love.
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I think there's a general assumption that Bury (and Bolton) will go down - if they survive that long. The combination of the points deduction and the loss of their senior players makes it almost inevitable.
Got into a convo here ages ago where I said FFP should’ve been structured and intended to prevent things like this happening, rather than pretending they’re fighting a losing battle against the likes of PSG and City.
Wrong. Apparently castigating Gary Neville is haute couture these days, instead of discussing this bottom feeder.
Used to work in bury so don’t like seeing this, went there a few times when the FC united thing all started as I was in the area. That must have provided a few quid back in the day.
Not concerned with the money. Just a sad state of affairs to watch a football club dissolve from any fans’ perspective. Nothing to do with United.
Just saying I went to the ground a few times, chill out
Bury will be expelled from the league I imagine and have to start somewhere again in non league.
Errrr.... Am I missing something here? If he bought the club for £1 and his DLA is in credit for £3.6m then he's lost a hell of a lot of money by taking over this club. Everyone seems to be talking like he's some kind of parasite but if this report is accurate it looks to me like he just made a stupid decision to buy an awfully run football club, never got to grips with the problem and he's now trying to not lose everything he put into Bury. He's been there for less than 9 months so he clearly didn't cause these financial problems either. If I've got the wrong end of the stick I reserve my right to call him a parasitic feck.
The reality is nobody knows what he's actually put into the club. There's no sign that he's put anything in. I'm fact it appears there's been a net flow out in his direction - including the club's trophies and archive moved into another company and maybe the prize money from promotion as well.
I think you're probably right, that's a path I can see both clubs following. It's a massive shame - for Bolton, as I remember Big Sam's Kevin Davies-led team beating Atleti in the EL only about 12 or so years ago (2007 I think?) and now they've plummeted so far, it's sad to see. Bury, I have some sympathy for but I also think if you knowingly take the risk of spending far beyond your means (they're a tiny club in reality) then you run the risk of leaving yourself in this type of situation. Still, to see them close to going out of business etc. isn't nice and I wouldn't wish that on any fan.
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So how has somebody thought he was a suitable candidate to take over a football club?
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You can't blame them. They have families and bills to pay like most people.
