I think people like him get a kick out of this sort of stuff. There's no other reason why he would voluntarily go on the radio and say that.
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I hate violence but I’d like to pummel his face in with a brick. Absolute first class cunt
I bet you it turns out the new owner is actually Adolf fucking Hitler.
There was a rumor circulating earlier today that the debt had been purchased by Dale's children...Who of course are near equally big cunts. So Dale would sell the club but the club would still be in debt to the family.
Rumours going round up here (Bury) that a London based co. has bought the club.
Sadly unless something had happened recently the club is so full of liabilities ( created/incurred when Dale or his predecessor as Chairman) were in control that the club is probably unsaleable - liabilities greater than anyone could generate in profits from the club in years.
Unless a deal is done with the " owners" of these loans or liabilities which I imagine has to include a huge haircut being taken in the liabilities there can be no deal........and by the way the shares are worthless.
Dale saying he's "sold" the shares is just a version of " pass the parcel" ( or ticking time bomb' ) and a cruel joke on Bury fans - until a deal is done with the owners of the Bury 'debts"
My non league team - King’s Lynn, is another Phoenix club in the same league. They went bust in 2009 pretty much “doing a Leeds” trying to get to a level that they probably weren’t ready for. I used to go regularly when there was a real risk that they would go under. By the time I moved away from the town and stopped going they were still going. However not long after the tax man wound them up for what seemed like a paltry amount and there was no football for the rest of that season. They were reformed when the local speedway empresario talked the council into letting him have the ground for a peppercorn rent. A reasonable amount of resentment from the fans ensued, but so did 3 promotions since then. Never as champions though.
They now play in the National League North and have had a pretty decent start to the season. I really should go and see them at least a couple of times a year but life seems to get in the way.
It’s very common for creditors to agree to CVA’s in order to recoup anything they can from their outstanding “assets”/debt rather than write the whole lot off. Surely if the club was run on a “not for profit” basis a re-structuring isn’t out of the question.
I do agree that once a club goes under, which Bury patently has, there should be some mechanism in place which ensures the next people who own/run it have to do so for the benefit of the club/fans/community it serves. Majority fan representation seems the most obvious route so long as the fan base has the right spread of skills needed. Which I’m sure most clubs would have.
Agree on all that, but from a review of some of the information on the internet, Bury FC has been 'lumbered' with many millions of £'s of liabilities by their Dale and the previous owner (many or all of whose other businesses are either being liquidated or in administration - so unlikely to recover anything through that route), which may/may not (that's me being a bit careful on a public forum) have been commercially a good deal for the football club. Many of these liabilities seem to have been nothing to do with football either.
I suspect that Bury Football Club Limited liabilities mean that it is currently beyond saving - unless as I say the 'owners' of the liabilities/loans waive a big proportion, but that's down to any prospective owner to decide.
So my conclusion is that Bury FC is unlikely to survive, and a new Bury might need to rise from the ashes which might be formed by genuine fans and local businessmen.
What I also said is I think EFL (and maybe PL too) needs to have a far stronger regulatory role both in ensuring 'owners' are fit and proper people before taking ownership (Dale apparently did not - and EFL have been asking for months for information about him), and indeed a strong monitoring system to review all the financial accounts for the clubs. NB I think French FA does the latter.
You realise that The FA fund all sorts of football, from 'grass roots' to elite level? £375m is probably not enough to fund a coaching scheme for kids in Clacton (as an example) and help out clubs (businesses) that are poorly run.
More to the point why should the FA help out?
I know they spend at all levels, that's not really relevant though. £375m is a decent amount of money, if it's spent wisely it'll go far.
If they wanted to create a small pot to help out their registered players they could do. In a situation like this the players will likely be paid hundreds rather than thousands so it really wouldn't need to be a big pot just to help these people out, probably less than £50k. It would just be a little bit of security for the players down in the lower leagues who seem to be the worst affected by these situations. The FA also needs to be making sure that the people who buy clubs are capable of running them because we need the smaller clubs just as much as the big ones.
It's just my personal opinion that it's something the FA could do, you don't have to agree with it or be patronising because I've suggested it.
Didn't mean to come across as patronising. Just think you're being very naive.
Perhaps predictably the complexities of the financial arrangements entered into previous chairman whose other companies are either in liquidate ion or threatened with the same plus done if the contracts entered into by the current chairman/owner ( eg 40% commissions paid when taking out multimillion pound debts) make Bury FC a nightmare to unwind, and the liabilities may be too great to allow Bury to be saved.
Hope a phoenix club arises from the Trainwreck - and FCA or someone looks at the actions of Chairmen and other Directors.
And the EFL agree to take on much greater responsibilities for regulating clubs including redefining owners acceptability and monitoring clubs finances ,- with the teeth to deal with any issues arising
Genuinely think this was such a speculative approach by S&N. They are a tin pot company, who at best were sniffing out a too good to be true deal driven by a desperate sale (although the incumbent owner hasn't publicly shown to be desperate given his valuation, he may well face negative consequences down the line if they go under given how public it is and may also well be facing current pressure from EFL to sell and take any deal offered). The EFL may well have also turned yet another blind eye to the fit and proper test had a deal also be brokered as all parties desperation to get a deal.
Or S&N have just manufactured an awful lot of free publicity for themselves.
Either way, if I were a Bury fan I'd have been shitting myself has a deal gone through with S&N, all it would have meant was you live to fight another day, or putting off the same situation as the Tin pot company has zero substance also.
Agree it was probably speculative - as I understand it they are a football analytics company so no experience of running a football club - whilst what was required was either a philanthropist or more likely a hard nosed businessman , as judging by the press articles I and others have posted there s been a lot of odd deals going though in Burys name which make one nervous about its solvency, so might have also needed decent funding to deal with some of the issues.
Only positive from the abort is they say they will share the findings from their due diligence with EFL - although the articles I have posted from the Guardian and other media have probably exposed as much as these guys may have achieved in their week or twos due diligence, so nothing should come as a surprise to EFL
But Bury , as I have said before, is probably so insolvent that it's beyond anyone except s philanthropist with deep pockets.
Question is do EFL realise it needs to operate in s tougher regulatory way, and will EFL clubs require it too - or does public interest means EFL is forced to step up. Otherwise there will be more Burys and more Boltons
The EFL have created this mess. Allowing a man to take ownership of a club when he was previously banned from company directorships and then pays players like jermaine beckford thousands a week....the regulation is laughable and not fair on the majority of EFL clubs who operate in their budgets.
I understand league one clubs receive around 1.4 million per season under the current broadcasting deals which should be more than enough to support a first team squad.
It's hardly new that clubs go bust ( Maidstone, aldershot, Hereford) but what is galling that the game is awash with money and the governance outside of the EPL is shocking. And the gap between the haves and have nots is widening, the championship is fast becoming the second tier of a premier league, clubs are spending 15 to 20 million on a player, drop to league one and two and it's a hand to mouth existence.....
I understand league one clubs receive around 1.4 million per season under the current broadcasting deals which should be more than enough to support a first team squad.
It's hardly new that clubs go bust ( Maidstone, aldershot, Hereford) but what is galling that the game is awash with money and the governance outside of the EPL is shocking. And the gap between the haves and have nots is widening, the championship is fast becoming the second tier of a premier league, clubs are spending 15 to 20 million on a player, drop to league one and two and it's a hand to mouth existence.....
A lot of rules in place eg owners and directors test on this link
There may be some gaps - for example that no share transfer of an EFL company or its holding company can take place without any persons having more than (say 10%) having complied with the owners test to EFL satisfaction ( I read somewhere that Dale gained control of the club and then tried - and did not succeed - in complying with the relevant rules) . So those might need reviewing and tightening up.
But after that it requires all the EFL clubs to demand the EFL do their job - and if the clubs do not, then it may require government to demand they do.
Probably needs someone with both balls and diplomacy to take on the EFL job.