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Bury takeover went through without full Football League approval

A report has emerged from the Guardian overnight, stating that Steve Dale’s takeover of Bury went through without full Football League approval.

Newly promoted Shakers have avoided numerous winding up petitions from the High Court over unpaid bills, the case was already until the 19th of June with talks three parties are interested in buying the club. However it was adjourned again late last month for up to six weeks after the owner said he had “some expressions of interest” from those potential buyers.

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In a statement an EFL spokesman said it began checks according to regulations only after he took over the club: “Following notification of the transfer of shares at the club, the EFL immediately began to implement its change of control processes, which include submission to the owners and directors test… as well as seeking additional information in regard to the source and sufficiency of funding.”

The spokesman also revealed that Steve Dale and the club had still not provided the EFL with the correct financial information: “We remain in active dialogue with the club concerning the outstanding information as required under EFL regulations, and will continue to offer assistance as the club attempts to find a long-term solution to the complex and challenging issues it currently faces.”

Bury could become the second League One side to get a twelve point deduction after Dale has offered to settle some of the club’s debts and potentially avoid a winding-up petition by paying the football creditors along with the players in full, and the almost £4m owed to others.

If he pays the club’s debt, then according to the EFL rules, it means it’s an ‘insolvency event’ and the club will be handed the same punishment like the Trotters were given.

Creditors want more time to consider the plan and discuss further negotiations with a meeting set for the 18th of July.

And with all the going on, Bury could lose their seven contracted players – who have not been paid in full since March – before their League One return against Milton Keynes Dons in three weeks time, giving former Truro City turned Shakers boss Paul Wilkinson almost nothing to work with.

 

After finding out that Steve Dale’s takeover of Bury went through without full Football League approval, fans took to vent their frustration at not just the situation, but the EFL too – find out what they wrote on the next page.

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