Bury FC owner Steve Dale says club has been sold hours before EFL deadline

League One side faced expulsion from professional ranks unless situation was resolved by midnight on Friday

Tom Barnes
Saturday 24 August 2019 01:53
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Bury Football Club: Scene outside Gigg Lane as club struggles with financial issues

Bury FC may have been granted an eleventh-hour reprieve after owner Steve Dale said he had agreed a deal to sell the club.

Mr Dale had been given until 23.59pm on Friday to either provide proof to the English Football League he could fund the League One side this season or hand it over to someone who can.

After a day of claim and counter-claim, Mr Dale said he had agreed a deal with an unspecified buyer.

It is understood the EFL is aware of Mr Dale’s claim of a sale and is investigating as a matter of urgency.

Rory Campbell and Henry Newman, directors of sports analytics company C&N Sporting Risk said they had made a bid on Friday, having been working closely with Bury North MP James Frith, and appear to be in the box seat.

In a statement, they said: “We can confirm that over the past 10 weeks we have been in discussions with Bury FC, the EFL and others with a view to putting forward a proposal to buy the club.

“It is a very complicated scenario and there remain a number of outstanding legal and other issues that have to be addressed. Our background is in football and data analytics and it should therefore not be surprising that we are taking a very detailed forensic look at the realities of Bury FC finances.

“A club like Bury ought to have a viable long-term future even if the short-term future is clearly very challenging. To that end we have been in discussions with the EFL about an extension so that we can continue to explore the prospects for a purchase. We will be making no further comment at this stage.”

Mr Dale’s declaration of a sale came just before 10pm, with a little over two hours remaining for the club to be saved.

The Cheshire-based businessman said throughout the day he had a buyer lined up but was unsure if a deal could be concluded before the deadline, having also asked fans to pledge money, while Bury North MP James Frith had said a “credible bid” would be lodged along with proof of funding.

In a 5pm statement the EFL said it had seen little progress, but it was understood that by early evening it was aware of offers which Mr Dale needed to consider in order to make progress. It now remains to be seen if the EFL will grant an extension, as had been said earlier in the week.

Mr Dale bought Bury for £1 in December after previous owner Stewart Day ran up huge debts following years of overspending at Gigg Lane.

Having initially claimed to buy Bury for “philanthropic” reasons, Mr Dale put the 134-year-old club into administration this summer and engineered a debt repayment scheme.

The scheme, known as a company voluntary arrangement, would see creditors paid only 25 per cent of what they are owed, with him and his associates being the main beneficiaries.

His plan, however, depended on Bury being allowed to start the season – with a small squad and skeleton staff – and the EFL handing over the club’s share of its central income.

That, as desperate Bury fans are well aware, has not happened.

Having previously greeted each EFL postponement of a Bury game – five league fixtures and an EFL Cup tie so far this season – with an angry statement on the club website, Mr Dale announced he was willing to listen to offers for the club early last week.

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