Bury warned club face expulsion by EFL if financial assurances not made
Thursday 25 July 2019 13:32, UK
The EFL has given Bury until the close of business on Thursday to provide outstanding information regarding football creditor debts and source and sufficiency of funding.
The Shakers, who won promotion to Sky Bet League One last season, were handed a 12-point deduction ahead of the new campaign after agreeing a Company Voluntary Agreement (CVA) last week.
If Bury do not provide that relevant information, the EFL will decide whether to implement a notice to transfer its share or further extend the deadline.
The club will have 14 days to meet all outstanding requirements of the league's insolvency policy or its membership in the EFL may be terminated.
"This is an incredibly difficult and complex situation for all those involved, in particular the staff, players and supporters of the club," EFL Executive Chair Debbie Jevans said.
"We fully recognise the value and importance of the club to the local community and its fans, and 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."
Meanwhile, the local Safety Advisory Group (SAG) will meet on Thursday to consider whether the club meets all the requirements necessary to safely stage EFL fixtures at Gigg Lane next season.
The league has the ability to suspend Bury's fixtures should the SAG confirm the club does not have the sufficient resources and facilities for its opening fixtures and/or it fails to provide all the outstanding information and documentation.
Bury are due to begin life back in League One at home to MK Dons on August 3.
The Shakers' fellow Greater Manchester side Bolton are facing financial difficulties of their own and will also start life in League One with a 12-point deduction, although the proposed takeover of Wanderers by Football Ventures is on the verge of being completed, Sky Sports News understands.
Meanwhile, Bury have until Friday to appeal their 12-point deduction, Sky Sports News understands.
