Sat, 13 Apr 2013 | ADMINISTRATION
Bury FC has to find £1 million in order to stay away from a move into administration, Bury chairman Brian Fenton has warned.
Local entrepreneur Mr Fenton put out an urgent request to investors this week in his bid to keep the club afloat, amidst fears that an administration process would “basically savage the club”, and that if it entered administration before the season ends a total of 20 points would be deducted, which could spell an exit from the Football League.
“So either we lose control of our club and start next season with minus points, facing the very real prospect of non-league football, or we find the money to put the club back on a sure footing with a long-term future,” he told the Bury Times.
The board has being in discussions with possible backers, Fenton said, and are being offered a “guaranteed return”. New backers could have a place on the board, and Fenton said he would be willing to step down if necessary.
The requested £1 million would be a lifeline, providing income for the next season and also to pay off the club’s bills.
Its supporters group Forever Bury has also launched an appeal for 100,000 new members to pay a £10 membership fee each to help with the financial burden.
___________________________________________________________________________
Related articles:
Football clubs offer unique opportunity for buyers
Dunfermline FC applies to enter administration
The business specialises in Project Management, Cost Management, Quantity Surveying, Building Surveying, and Asbestos Surveying. The Company provides expert and professional Construction Consultancy Services to the private and public sectors, includi...
The company is a well-regarded provider commercial and industrial property maintenance services and domestic landscaping services, providing continuity throughout the year. Operating for almost three decades, the business has developed a broad range...
Established name within the Kitchen & Bathroom design and Installation sector. Offering wide and varied customer base with healthy order book.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.