Hit enter after type your search item

Bury hit with 12-point deduction after agreeing CVA to secure future – ‘The old girl is safe’


Bury will start the League One season with a 12-point deduction after entering a Company Voluntary Agreement, the EFL has announced.

The Shakers, promoted last season, saw a winding-up petition over unpaid debts adjourned at the High Court last month and have now secured their future with the CVA.

Bury are now financially safe

The club, however, will kick-off the forthcoming campaign with the points penalty.

“Following receipt of notice that the Company Voluntary Arrangement (CVA) has been passed in respect of Bury Football Club, the EFL can confirm that the club has now suffered an insolvency event and will be subject to a 12-point deduction,” said an EFL statement.

“In accordance with EFL regulations, the sporting sanction will take effect immediately and the club will start the League One season on minus 12 points. The club has seven days to appeal.

“The EFL will now continue its discussions with the club’s ownership with the aim of achieving a long-term future for the club.”

Bury are back in League One

Earlier on Thursday, Bury chairman Steve Dale revealed the cash-strapped club would be safe after agreeing the CVA.

Dale, who was involved in an angry confrontation with a group of supporters during Saturday’s friendly at Nantwich Town, confirmed the news in a statement on the club’s official website.

He said: “Today was a major day for our beloved club, the old girl is safe. The CVA was passed, so our future is secured, as I said I would.

“We have worked tirelessly to achieve the result today whilst taking a lot of flak. Some might say our methods were questionable but we can all pass comment with hindsight. My job was to save Bury FC and that’s done. We have other hurdles but the main one is complete.

“Over the coming weeks, our fans will see the truth appearing once the police have completed their enquiries and arrests, and they will realise who had the club’s best interest at heart. The facts as always will outweigh the social media spin and lies.”

Bury begin their League One campaign at home against MK Dons on August 3. League One rivals Bolton will also start with a 12-point deficit due to their own financial problems.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

This div height required for enabling the sticky sidebar