Reply With QuoteWhat is it you think the EFL should be doing.Originally Posted by millertop
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Look them up on company’s house, seriously I could take bury over if they can
Get rid of EFL board. Clowns
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What is it you think the EFL should be doing.
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Company that bought Burys debt reported to be owned by partner of Dales daughter.
https://www.theguardian.com/football...-dale-daughter
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The company who supposedly can take on Bury’s multi-million pound debt produced micro accounts for the year ending 2018 meaning that they turned over less than £632,000.00.
How the hell are they viable bidders unless they have ‘others’ in the background supporting them?
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Sounds similar to previous Oyston family, and Maxwell family, delaying manoeuvres. This could go on in limbo for a long while yet. Probably be a dispute over who actually owns the club next...
Last edited by mikemiller; 24-08-2019 at 09:53 AM.
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Talk about a tangled web!
The football club owed the previous chairman's company £7 million.
The previous chairman's company sold that debt for £70,000 (1p in the pound) to a company set up by the current chairman's daughter's boyfriend, specifically to purchase that debt.
The boyfriend's company could be getting £1.75 million, if the CVA/sale of the club ever goes through, for his (or his girlfriend's dad's?) £70,000
The previous chairman's company, who owned the original debt, is in administration.
wtf is going on?
Was the sale of the £7million debt, for 1/100th of it's face value, before, or as a part of, the administration process?
What was in it for the previous chairman?
No wonder people are demanding enquiries be made.
I just hope that this complication doesn't stop the sale of the club going through.
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Well they’ve been given until 5pm on Tuesday to sort it out.
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All is not what it seems.
When debt is mentioned this isn't about the football side of the business spending too much money on transfers and salaries.
During the tenure of the two previous owners loans were taken out guaranteed by the football club and that money went elsewhere and not to enhance the footballing side of the business.
Coupled with this 'arrangement' fees were paid to some people who had nothing to do with Bury FC. These arrangement fees were huge running into hundreds of thousands of pounds. No one really knows who received these fees.
So when the current owner says he's owed some Director,s loans this isn't what we think it is. The cynic would say he's already taken this money out of the club and now he wants a new owner to give it him again.
All allegedly if course and just what I've been told by a man in the pub. If anyone connected to Bury FC is reading this then it is not my opinion
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...and then the EFL will do what? Extend the deadline again probably...
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If I were you Flour, I would read up on libel law.
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