BURY could be kicked out of the Football League in just TWO WEEKS after being handed a 12-point deduction amidst their financial turmoil.
Club owner Steve Dale arranged a Company Voluntary Arrangement (CVA) proposal last month to see the team’s football creditors paid in full.
But Bury must now “meet all outstanding requirements of the League’s insolvency policy” or be expelled from the Football League.
Should the club provide the “missing information” by the deadline they should be allowed to stay in the EFL.
Even if Bury fail to hand over the documents in time, they may be afforded a deadline extension.
EFL executive chair, Debbie Jevans, claimed they will do whatever it takes to ensure Bury retain their status – but admitted they have work to do.
COMPLEX SITUATION
Jevans said: “This is an incredibly difficult and complex situation for all those involved, in particular the staff, players and supporters of the club.
“We fully recognise the value and importance of the club to the local community and its fans.
“[We] will continue to work proactively and diligently with the ownership, as we have done over an extended period of time to try and ensure Bury FC has a long term future as a member of the EFL.”
Despite gaining promotion to League One last season, Bury staff and players experienced issues with delayed payment at the end of the 2018-19 campaign.
MOST READ IN FOOTBALL
Football creditors were owed £950,652, according to the proposal while unsecured creditors are owed £5,982,765, including £3.6m to Dale.
Dale put the club up for sale in April as they look to find new ownership.
Even if they retain their Football League status, Bury already face relegation back to League Two, starting the season with a 12-point deduction and 22 trialists on their books.
https://textbacklinkexchanges.com/bury-could-be-kicked-out-of-football-league-in-two-weeks-after-being-handed-12-point-deduction-amid-financial-turmoil/
News Photo Bury could be kicked out of Football League in two weeks after being handed 12-point deduction amid financial turmoil
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