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

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

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."

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

A

rturo Vidal, James Rodriguez, Angel Di Maria...........who cares we have Mark Oxley.......Ah tis good to be Hibs fan :)

frakessmee
Hull keeper agrees Hibs loan

I

t's just a ride. Bill Hicks is sorely missed, what a prophet and still relevant twenty years after his death. I'm glad though he didn't get to see George Bush Jnr as President.

thesza888
Wilshere: Is He Smoking Enough?

W

hile not comparing the ability of Wilshire to Dr Socrates of Brazil, didn't he do about forty a day?

nedsmar
Wilshere sorry for smoking

Footer 365

DJ Campbell among 13 men released from bail in spot-fixing probe

DJ Campbell is among 13 men released from bail as part of a spot-fixing probe by the National Crime Agency .

Transfer news: Arsenal sign defender Calum Chambers from Southampton

Arsenal have signed defender Calum Chambers from Southampton for a fee believed to be in the region of £16million.

Indian Super League: Former Arsenal and France winger Robert Pires to play in ISL

World Cup winner and former Arsenal winger Robert Pires will participate in the inaugural Indian Super League.

Mail Box

No Wonder Wenger Doesn't Buy British

That's if reports that Calum Chambers cost Arsenal £16m are to be believed. The English premium shows no signs of disappearing. Plus, worrying about poor Southampton...

Reasons To Believe That Van Gaal Will Be The Best

Some supporters sound oh so confident on Louis Van Gaal's excellence. Plus thoughts on shirt sales, best signings, football sevens and a good deal more besides...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property