Bury use club's website to plea for £1m

League One strugglers warn they could cease to exist without investment

A view of Bury's Gigg Lane (GETTY IMAGES)

League One strugglers Bury have made a desperate public plea to potential investors and insist that unless they can quickly source £1 million, then the club will cease to exist.

In a statement published on the club's website, they have appealed to local businessmen and women to join a consortium and invest £100,000 each in order to safeguard the future of the club.

"At this moment in time the situation is now critical, we are quickly running out of money by trying short term fixes that are not working long term. The club desperately needs £1 million of external investment to secure the long-term future of the club.

"Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane," the club said.

Rock-bottom Bury, who could be relegated to League Two if they lose at home to Oldham on Saturday, are currently the subject of a Football League transfer embargo after they took out a short-term loan from the Professional Footballers' Association in February. This is the second time the Shakers have found themselves under such an embargo this season after they were penalised for the same reason in December 2012.

The statement continued: "We need you now because I repeat the club will close. We have a responsibility to all of our staff, players and creditors to not allow the situation to get any worse.

"This plea is serious; if you can help us and at the same time enjoy a return on your investment please contact the club."