Bury on brink of going bust

Bury chairman Brian Fenton says the club will go out of business in days unless they get £1million of investment.

Last Updated: 10/04/13 at 16:04 Post Comment

Bury: Need to raise £1million or face going out of business

Bury: Need to raise £1million or face going out of business

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Fenton has pleaded for help from local businesses, with directors putting an SOS plan together as they try to save the club.

Fenton said in a statement: "As you are well aware, Bury FC has been experiencing financial difficulties all season and we are currently in a transfer embargo imposed by the Football League because of our short-term loan from the Professional Footballers' Association.

"At this moment in time the situation is now critical, we are quickly running out of money by trying short-term fixes that are not working long term.

"The club desperately needs £1million of external investment to secure the long-term future of the club.

"Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane.

"We are looking for a number of people, local businessmen or women to join a consortium and invest £100,000 each, with a guaranteed payback.

"If you are interested please call the club and we will explain in detail our business plan. We need you now because I repeat the club will close.

"We have a responsibility to all of our staff, players and creditors to not allow the situation to get any worse.

"This plea is serious; if you can help us and at the same time enjoy a return on your investment please contact the club."

Bos Kevin Blackwell admitted that although the situation is beyond the control of himself and his players, the League One club are desperately close to going out of business.

He told Sky Sports News: "We've just to get on with it. There's not a lot we can do about the financials, but we've known that for the last four or five months - we just do what we can.

"But we're at that point now where I think everyone is aware, especially from the statement issued today that if no financial support comes in quickly that there will be no professional football at Gigg Lane - that is a stark, stark warning.

"It's very frustrating for everybody concerned but now it's all about people focusing on saving Bury Football Club.

"The board are realistic. They're just working as hard as they can to get the finances on an even keel. The club is a big thing in a lot of people's hearts and we've got to try and keep it going."

The former Leeds and Sheffield United boss was also quick to point out that the state of the game as a whole needs to be addressed as more and more clubs run into financial difficulties.

"The finances aren't the best but we've got to work with the club and the fans to sort this out, but we could be talking about any club," he added.

"It would help if the Premier League clubs set aside £1million, or half a million of this new money coming through and gave it to League One and Two clubs it would go a long way to solving a lot of problems - we've got to look at the finances in football."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Marcos Rojo says Angel Di Maria is most talented Man Utd player

Marcos Rojo believes Angel Di Maria is the most talented player at Manchester United and has backed him to show that this season.

Sepp Blatter will not attend the Women's World Cup final

Sepp Blatter will not travel to Canada for the final of the women's World Cup on July 5 for personal reasons.

Manchester United's pre-season clash with San Jose moved

Manchester United's International Champions Cup game against San Jose has been moved.

Mail Box

Arsenal Only Need Two More (As Ever)

One Chelsea fan still doesn't see Arsenal as title contenders, plus we have thoughts on Petr Cech, Sergio Ramos, Heurelho Gomes, Paulinho and Arsenal Denilson...

Cech To Arsenal Has Been On The Cards For Years

We have happy Arsenal fans regarding their new goalkeeper, plus thoughts on Jose vs Arsene, transfer bulls**t, like-for-like Liverpool, WWC and population pedantry...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company