Bury's finances - over £8m in debt...

[For Us All]

Not sure how long Flitcroft can hang on to the managers job after last night's FA Cup hammering at Wimbledon.Bury haven't won in 11 games now since their victory at MK Dons on the 27th September and have lost their last 7 league games.

[Trampilot]

Might be getting confused here, but wasn't that plastic pitch chap who alledgedly did/din't buy shares in Vale mentioned in the early days of this takeover...

 

Wonder if Peter Miller is involved somewhere too....

[Bycarsbill]

From the moment they started paying silly money wages to players (including poaching the Pope from us) it was inevitable on their gate receipts that they would end up in financial trouble--and I'm not just being wise after the event--I did say it back in 2015 when a number of posters on here were being critical of Norman S for not offering Tom Pope a higher wage to keep him. Whichever the club (and I do sympathise with Bury supporters) they need to 'cut cloth' accordingly. Failure to do so, as Bury's case would suggest, is to fly against the laws of basic financial arithmetic! Perhaps there will be some more circumspection in future when certain people are clammering for the chairman to unloose the purse strings!

[cheshirevaliant]

From the moment they started paying silly money wages to players (including poaching the Pope from us) it was inevitable on their gate receipts that they would end up in financial trouble--and I'm not just being wise after the event--I did say it back in 2015 when a number of posters on here were being critical of Norman S for not offering Tom Pope a higher wage to keep him. Whichever the club (and I do sympathise with Bury supporters) they need to 'cut cloth' accordingly. Failure to do so, as Bury's case would suggest, is to fly against the laws of basic financial arithmetic! Perhaps there will be some more circumspection in future when certain people are clammering for the chairman to unloose the purse strings!

 

That argument would be fine if we weren't losing £2m a year as well.

[VantaaVale]

Not sure how long Flitcroft can hang on to the managers job after last night's FA Cup hammering at Wimbledon.Bury haven't won in 11 games now since their victory at MK Dons on the 27th September and have lost their last 7 league games.

 

Sacked today.

 

http://www.bbc.com/sport/football/37964476

[man in the pub]

Last season the story I heard, and it may have been on OVF was that their chairman had gambled everything on promotion to the championship. It was a risky roll of the dice which if it succeeded would take them to the promised land but if it failed would leave them in over their head covered in brown smelly stuff. Also the ground was being used as security for this gamble but worryingly the money that was borrowed was on eye watering Wonga type rates.

Sounds like the brown smelly stuff has just reached chin high and is still rising.

[For Us All]

They are finally coming home to roost at Gigg Lane,ten league defeats on the bounce puts them level with Crwho and only one behind Sjoke and Man.Utd in the most defeats league.

[bookworm]

and we think port vale has problems.

[pjg1876]

This thread was started almost three years ago by robf but was anything done about the club's issues. No, they carried on spending what they hadn't got to achieve promotion and the EFL just sat there and watched it all go by.. 

[Tomo]

Yeah, at the time it was very obvious to many of us, but the EFL have quickly washed their hands of any responsibility...

[RailwayRowdy]

On 28/08/2019 at 16:30, Tomo said:

Yeah, at the time it was very obvious to many of us, but the EFL have quickly washed their hands of any responsibility...

I still don’t particularly see how the problems at Bury are the EFL’s fault.

Obviously people will say that the EFL should have been aware of the overspending at one of their member clubs, But should they really have any right to tell an owner how to run his or her own club ? A club that this individual has legally bought with their own money ?

Unfortunately, the football world is now full of owners chasing what they see as the easy financial pickings of the football industry.

Fans just want to watch team. Successful or otherwise. 

 

[Conrad]

21 minutes ago, RailwayRowdy said:

I still don’t particularly see how the problems at Bury are the EFL’s fault.

Obviously people will say that the EFL should have been aware of the overspending at one of their member clubs, But should they really have any right to tell an owner how to run his or her own club ? A club that this individual has legally bought with their own money ?

Unfortunately, the football world is now full of owners chasing what they see as the easy financial pickings of the football industry.

Fans just want to watch team. Successful or otherwise. 

 

That’s the point, if the EFL had done something, Bury fans would still be able to watch their team , now they can’t.

[Jacko51]

1 hour ago, RailwayRowdy said:

I still don’t particularly see how the problems at Bury are the EFL’s fault.

Obviously people will say that the EFL should have been aware of the overspending at one of their member clubs, But should they really have any right to tell an owner how to run his or her own club ? A club that this individual has legally bought with their own money ?

Unfortunately, the football world is now full of owners chasing what they see as the easy financial pickings of the football industry.

Fans just want to watch team. Successful or otherwise. 

 

The EFL's responsibility lies in their pathetic governance of football in this country.  They have no strict rules on who can own a football club hence the likes of Ken Anderson was able to buy Bolton despite having been banned from directorships for 8 years because of fraud.  It had no means of preventing Dale take over Bury despite the fact that he had a business history which clearly identified him as an asset stripper.  It has no means of intervening when clubs fail to meet their legal obligations to HMRC.  It is a pathetic, toothless organisation and is not fit for purpose.