Bury expelled by English Football League after takeover collapses

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Bury expelled by English Football League after takeover collapses

Postby dutchman » Tue Aug 27, 2019 11:39 pm

Bury have been expelled by the English Football League after a takeover bid from C&N Sporting Risk collapsed

The League One club had been given until 17:00 BST on Tuesday to complete the deal, having been granted an extension to Friday's initial deadline.

Bury are the first team to drop out of the EFL since Maidstone's liquidation in 1992.

League One will comprise of 23 clubs for the rest of the season, with only three teams to be relegated.

"Today is undoubtedly one of the darkest days in the league's recent history," said EFL executive chair Debbie Jevans.

"I understand this will be a deeply upsetting and devastating time for Bury's players, staff, supporters and the wider community. There is no doubt today's news will be felt across the entire football family."

Bolton Wanderers, also of League One, have been given 14 days to avoid being expelled themselves, with their prospective takeover by Football Ventures (Whites) Limited still yet to go through.

In a statement on Monday the club's administrators warned they are on the brink of liquidation, saying if they were unable to resurrect the move the club was "not in a position to carry on trading".

The EFL had suspended each of Bury's first six fixtures this season, requesting evidence the Shakers could pay off creditors and had the funding to make it through the campaign.

In a statement at 23:05 BST on Tuesday, the league said they decided "after a long and detailed discussion" to withdraw Bury's EFL membership "with enormous regret".

"No-one wanted to be in this position but following repeated missed deadlines, the suspension of five league fixtures, in addition to not receiving the evidence we required in regard to financial commitments and a possible takeover not materialising; the EFL board has been forced to take the most difficult of decisions," Jevans said.

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