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Post by nws on Aug 26, 2019 8:11:17 GMT
Bolton given 5pm Tuesday deadline as well. www.theguardian.com/football/2019/aug/24/efl-bury-5pm-tuesday-campbell-takeoverIf you want a full flavour of the shit Bury are in, this is worth a read. They have been insolvent since May (they didn't even play their last game of the season), and have a CVA (agreement with creditors to settle their debts for 25% of what's owed) - as the debt is £4m, that's £1m the new owners have to stump up straight away. Plus around £750,000 owed to players and others. Then there's the £1.75m owed to RCR Holdings, who bought £7m of Bury's debts - RCR Holdings are a company set up two days before the CVA was agreed by the partner of the current owner's daughter. Not to mention a £3.7m mortgage on the Gigg Lane ground, taken out by the previous owner 9 months ago, just before he sold the club for £1. And if that wasn't enough, if the EFL do let Bury stay in L1, they expect to lose £1.5m during the current season. So that's at least £5m the prospective new owners have to prove they've got before the EFL will agree to the club staying in L1. And, once they've found that money (and sorted out the payments for the mortgage on the ground and for the £7m debt bought by RCR Holdings), they then own a club that they know is going to make a thumping great loss each season, and will almost certainly end up relegated at the end of the season - and could easily be playing us in a year or two. Who, in their right minds, would take on all that?Shamstone...if he can get off the pies!
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Post by jdl on Aug 26, 2019 21:30:50 GMT
Bolton in much deeper shit than I reaslised: www.skysports.com/football/news/11719/11794597/bolton-wanderers-on-verge-of-liquidation-after-proposed-sale-falls-through"This will ultimately lead to its liquidation, the expulsion of the club from the EFL and the inevitable loss of over 150 jobs. More than that, it will devastate a community for whom the football club is a beacon of hope and expectation. I reiterate, unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week." Less than 24 hours to get it all sorted out...
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Post by 61666 on Aug 27, 2019 8:13:07 GMT
A sugar daddy is one thing, but seems like a new term is needed for anyone willing to take on a Bolton or Bury. There again, still probably loose change for the select number of mega sports stars on a million a week, or indeed merchant wankers for that matter. Trouble is, Bury and Bolton ain't exactly Biarritz and certainly have nowhere to moor the mega yacht.
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Post by jdl on Aug 27, 2019 8:19:40 GMT
A sugar daddy is one thing, but seems like a new term is needed for anyone willing to take on a Bolton or Bury. There again, still probably loose change for the select number of mega sports stars on a million a week, or indeed merchant wankers for that matter. Trouble is, Bury and Bolton ain't exactly Biarritz and certainly have nowhere to moor the mega yacht. There's always Wigan pier.
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Post by Bernie on Aug 27, 2019 16:17:43 GMT
If Bolton and Bury are expelled from the EFL, what level do they restart at next season? Assuming any phoenix club can gain control of the stadium. Bolton in National League North or lower would be quite something.
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Post by jdl on Aug 27, 2019 16:20:23 GMT
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Post by Nick on Aug 27, 2019 16:33:01 GMT
I see the old Stones legend George Porter (now with Bromley) has been suspended from all football related activities because of illegal betting.
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Post by jdl on Aug 27, 2019 16:48:07 GMT
If Bolton and Bury are expelled from the EFL, what level do they restart at next season? Assuming any phoenix club can gain control of the stadium. Bolton in National League North or lower would be quite something. I think it will be lower than the NN. It's not so much the pedigree/history of the club that matters, as the quality of the team (presumably part-timers) that the phoenix club can put together. Also there's the feelings of potential promotion/relegation candidates to take into consideration - how would we feel if some ex-EFL 'big' team was levered into the NS and took our promotion place? As for stadiums - I don't know if Bolton own theirs, but I suspect a phoenix club might struggle to pay the rent/upkeep/whatever. And Bury's stadium has a £3.7m mortgage on it. Overall, with the gates Bolton get, and providing they can hold on to their stadium, I can see them back in the EFL in a few seasons, but if Bury can't hold to Gigg Lane, they are going to be non-league for a very long time.
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Post by johnpearce on Aug 27, 2019 16:53:27 GMT
I see the old Stones legend George Porter (now with Bromley) has been suspended from all football related activities because of illegal betting. Deserved if true. This guy is a horrible little mongrel at the best of times, a loathsome cheat.
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Post by porkystone on Aug 27, 2019 19:02:24 GMT
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Post by jdl on Aug 27, 2019 19:10:08 GMT
So much for their final, final, no, no, no messing about, this really is the FINAL deadline, deadline. No word about Bolton either - 3 hours after their FINAL deadline. Usual EFL farce.
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Post by jdl on Aug 27, 2019 19:13:02 GMT
And what next? No doubt they'll approve some wishful thinking, pie in the sky, unicorn plan put together by some bankrupt or 'business man', who it will turn out, doesn't have £5 in the bank.
And we'll be back here in three years time...
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Post by Nick on Aug 27, 2019 21:06:32 GMT
I see the old Stones legend George Porter (now with Bromley) has been suspended from all football related activities because of illegal betting. Deserved if true. This guy is a horrible little mongrel at the best of times, a loathsome cheat. Well it's true if you can believe BBC Sports. Apparently he has admitted the misconduct charge. Just a matter of 473 illegal bets over a few seasons. Knowing George's talent he probably lost every one !
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Post by jdl on Aug 27, 2019 22:52:28 GMT
Still no definite news, but I really can't see Bury surviving, their finances are in an almost unbelievable mess - and all this went on with the EFL apparently watching over them. The latest from the Guardian: www.theguardian.com/football/2019/aug/27/bury-historic-club-football-league-financial-ruinsAnd if anyone wonders what this has got to do with us, or the NL... "Although there is widespread sympathy for Bury supporters and deep sentiment for the football heritage, among other clubs and many fans there is also exasperation at the promotion from League Two won last season with an excellent team the club could not afford to pay." Our failure in 92 caused a huge fuss, and was supposed to have been followed by a drastic tightening of the rules and controls (resulting, I think, in the next three Conference champions not getting promoted). And yet, here we are, nearly three decades later, with a club once again failing after spending money it doesn't have on the fantasy of promotion, but this time in an infinitely worse mess than we were in. So, WTF has changed? What lessons have been learnt? What real changes have the EFL made? How many more supporters have to go through what we (and the Darts fans) went through, and what the Bury supporters are going through now, before anything actually, meaningfully, changes? Update - Guardian reporting Bury have been expelled.
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Post by sword65 on Aug 28, 2019 4:05:04 GMT
Still no definite news, but I really can't see Bury surviving, their finances are in an almost unbelievable mess - and all this went on with the EFL apparently watching over them. The latest from the Guardian: www.theguardian.com/football/2019/aug/27/bury-historic-club-football-league-financial-ruinsAnd if anyone wonders what this has got to do with us, or the NL... "Although there is widespread sympathy for Bury supporters and deep sentiment for the football heritage, among other clubs and many fans there is also exasperation at the promotion from League Two won last season with an excellent team the club could not afford to pay." Our failure in 92 caused a huge fuss, and was supposed to have been followed by a drastic tightening of the rules and controls (resulting, I think, in the next three Conference champions not getting promoted). And yet, here we are, nearly three decades later, with a club once again failing after spending money it doesn't have on the fantasy of promotion, but this time in an infinitely worse mess than we were in. So, WTF has changed? What lessons have been learnt? What real changes have the EFL made? How many more supporters have to go through what we (and the Darts fans) went through, and what the Bury supporters are going through now, before anything actually, meaningfully, changes? Update - Guardian reporting Bury have been expelled.It's simple. Football does not exist outside of the Premier league and as long as that keeps bringing in £zillions nobody cares about Bury or Bolton or whoever is next on the list .
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