Bury Q&A: What happens next at the crisis club?
The club’s 125-year stay in the English Football League came to an end on Tuesday.
Bury’s 125-year stay in the English Football League came to an end on Tuesday when the Shakers were expelled from the league – a move that will almost certainly lead to their liquidation.
Here, the PA news agency explains what happens next.
What does liquidation actually mean?
What happens to the stadium?
This is usually the most valuable asset but owners at failing clubs typically try to plug gaps in the books by borrowing money secured against the stadium, training ground or any other property the club might have: Bury are no different. In fact, it was the high mortgages on the stadium and adjoining land that scared off potential rescue bids. London-based lenders Capital Bridging Finance Solutions Ltd hold the key mortgage on Bury’s Gigg Lane home. It has a book value of £3.7million, double its redevelopment value.
Does this mean it is likely to be knocked down?
Could the club return renamed and in a lower league?
Absolutely, and the ‘phoenix club’ route is well-travelled now. The last two clubs to be expelled from the EFL, Aldershot and Maidstone in 1992, both reformed and started again, as have the likes of nearby Chester and Halifax. The FA decides where in the pyramid a new club can start but a demotion of four or five tiers is typical, which means a reformed Bury could begin playing in the Northern Premier League’s North West Division next season.
How do you actually do this?
What happens to the players?
Their contracts are now null and void, so they are free agents. In practice, most of Bury’s League Two promotion-winning squad, which the club clearly could not afford, have left already. The club had stopped paying them in March, anyway, and the Professional Footballers’ Association stepped in to help out. As of Tuesday’s missed deadline for new funds or new ownership, Bury only had four senior players and 16 scholars, who have been diligently training every day, in anticipation of a season-opener that never came. Hopefully, they can now all find new homes.
