Takeover complete at Bury

Bury's chairman Brian Fenton and the club's board of directors have resigned after confirmation was received that their long-awaited takeover had been completed.

Last Updated: 24/05/13 at 22:09 Post Comment

Gigg Lane: Delight for fans as much-needed takeover completed

Gigg Lane: Delight for fans as much-needed takeover completed

More of the games that matter

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

The club was relegated to League Two at the end of the season but the news at least ensures that they will be able to build again after worries over their long-term future.

Bury announced in April that they needed £1m to survive and they were twice placed under a transfer embargo after taking short-term loans from the Professional Footballers' Association to solve cashflow problems.

A statement on the club's website read: "Paperwork for the takeover of Bury Football Club has been formally completed.

"The current board of directors at Bury Football Club have all resigned from their current positions in order for new board members to be appointed during the next few days.

"It is hoped that the paperwork can be concluded by 5pm on Wednesday 29 May. This will allow wages, HMRC and loans obtained from the PFA to be fully repaid, and allow the club to move forward.

"The new board of directors will be bringing in key individuals to assist in bringing new ideas and business models to ensure the financial security of Bury Football Club moving forward.

"The new board of directors have met with Kevin Blackwell and support him 100% in his vision of returning Bury FC to the position it deserves.

"The new board would like to thank Jim Lomas and Neville Neville for their support and hard work in assisting with the due diligence process. Without their input this would not have been possible."

More of the games that matter

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

Related News

Most Commented

Readers' Comments

L

VG with Rooney up top. The 3 in MF being Blind, Herrera and Mata. Young on LW and Di Maria or Januzaj on the RW. You know it makes sense.

GVMUFC
Big Tactical Calls For Manchester Pair

P

erhaps thats why they never signed suarez

didierpogba
Di Maria 'too ugly' for Real

W

e'll be fine, no problem. If they do get relegated, he's definitely going to ask how anyone could ever have thought that Villa were going to be fine given their problems before he came.

treeman1
Premier League Winners And Losers

Footer 365

Chelsea captain John Terry says he is fighting to earn a new contract at Stamford Bridge

John Terry says he is fighting to earn a new contract at Chelsea and does not see himself ever playing for another club.

FA planning to send men's and women's GB teams to 2016 Olympics

FA are planning to send men's and women's Great Britain teams to compete in the 2016 Olympics Games in Rio.

Tottenham announce that legend and former captain Dave Mackay has died

Tottenham have announced that their former captain Dave Mackay has died. He was 80.

Mail Box

Henderson The Best Midfielder In PL?

Jordan Henderson is named by two afternoon Mailboxers as the PL's best midfielder, while another suggests Man United are trying to emulate Barca...

Jose Settles Most Boring Team Debate...

There's lots of reaction to Chelsea and Liverpool's wins on Sunday, plus one Mailboxer asking: Who is the Premier League's best midfielder?

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