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Not for us, but for Bury. i was credit checking a potential customer and decided to nosey onto BFC's file and was (or maybe not) supprised to see a new CCJ for circa £22k lodged only Wednesday this week. looks like they are in need of a bumper crowd tomorrow to settle some bills
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tomorrow can't come quick enough on 12:33 - May 29 with 5127 views
tomorrow can't come quick enough on 11:55 - May 29 by Cleedale
Cripes TVOS shows how times have changed. I remember a Tuesday night game where Maidstone won I think 2-1 at Spotty.
Clearly remember 4 or 5 supporters (they were already, as a club, in the mire) jumping up and down just inside the left-hand-side of the old Pearl Street stand covered area on their victory. Tannoy bloke, forgotten his name, congratulated them wholeheartedly on their success and long journey - as did a lot of the Dale supporters.
It's on my YouTube channel. I'm unable to link it for you at the moment, but I'll find it later if you don't locate it.
When I was your age, I used to enjoy the odd game of tennis. Or was it golf?
1
tomorrow can't come quick enough on 13:16 - May 29 with 4990 views
From a personal perspective, I would be lying if I said part of me wasn't enjoying seeing Bury get their comeuppance for years of living beyond their means. RAFCBLUE's extensive posts have highlighted the historical factors which have led them to where they are today, notably the Hugh Eaves saga of the mid-90s.
I was at school in Bury at the height of their success in the second tier, which was -- to put it mildly -- a grim experience for a Dale-born Dale fan watching Barrowball every week. Even then, I sort of knew the financial aspects didn't add up.
In the mid to late 2000s, after more brushes with administration, it was notable that Bury couldn't attract a private sector business sponsor to emblazon their club shirt, leaving the local council to do it instead, funding (if I recall rightly) the 'sponsorship' from the proceeds of Bury MBC's share in Manchester Airport Group. I know this wasn't popular with some in Bury who were local council tax payers but not Bury fans, including some in my family!
But after so many highs and lows I am struggling to get my head round the idea of them going under. I genuinely never thought it would come to this, and maybe quite a few Bury fans didn't either. Maybe they thought every owner would be like Uncle Hughie and it would all be alright on the night? I still have a hunch some 11th hour ruse will save them and they'll be a functioning League One club nest year. I'm not an accountant mind.
I know some hugely committed and sensible Bury fans though, so while part of me is desperate to gloat, I won't and can't. I will accept the several conversations I've had with them where praise has been lavished on Messrs Dunphy et al for running Dale 'the right way'. I guess the object lesson for us as Dale fans is to really think twice if we were ever to be in a situation where a benefactor/super investor/sugar daddy comes along and promises us the Championship or more. We all keep saying we would be sceptical and cautious and all that -- but we also berated Hilly for a perceived lack of ambition, so until we're in that situation I guess we wouldn't know for sure.
In the meantime, I wish those genuine and committed Bury fans luck establishing a 'phoenix club' several tiers below the football league. Maybe they could play in Farnworth?!
4
tomorrow can't come quick enough on 13:50 - May 29 with 4907 views
tomorrow can't come quick enough on 21:57 - May 28 by 49thseason
It's hard to imagine anyone paying £6.5m and then having to pony up for a team and, if they go into admin a points deduction to boot. It would be much easier to put £7m or £8M into a decent League 1 or 2 club where it would make a substantial difference, not just get you to the starting line for the new season.
Oh, and their 2018 accounts are 3 months overdue now so who really knows what their position is to the nearest Million or two, or four?
The last paragraph is massive.
The last set of accounts from 2018 are 3 almost 4 months overdue. These will be the final straw on an already fully laden camels back.
Why have they not been released?.
I am pretty sure that they will have to be released before any administration is even considered.
No prospective buyer ( including Forever bury ) should consider parting with one penny until the full extent of the loss is known from 2018.
One thing for certain it will be massive. If I ran a sweep my bet would be north of £3 million.
The noose is on and the lever for the trap door is about to be pulled.
0
tomorrow can't come quick enough on 14:18 - May 29 with 4801 views
tomorrow can't come quick enough on 14:11 - May 29 by aleanddale
The last paragraph is massive.
The last set of accounts from 2018 are 3 almost 4 months overdue. These will be the final straw on an already fully laden camels back.
Why have they not been released?.
I am pretty sure that they will have to be released before any administration is even considered.
No prospective buyer ( including Forever bury ) should consider parting with one penny until the full extent of the loss is known from 2018.
One thing for certain it will be massive. If I ran a sweep my bet would be north of £3 million.
The noose is on and the lever for the trap door is about to be pulled.
I think it was Matt McCarthy? (MM) who was quoted that it would take £6.5 million to clear the debts??? Most probably more bullshit. Dont they have 3 charges against the ground amounting to £5 million, £4 million owed to Merderco, a HRMC bill, WUP's outstanding and wages?
Its a BRILLIANT goal to cap a BRILLIANT start by Rochdale - Don Goodman 26/08/10
Promoted to League One last month, Bury have a series of loans from a company, Capital Bridging Finance Solutions, taken out during Day’s tenure at the club, which Dale says now total £3.7m and carry interest of almost £1,500 a day. In 2014 one of Day’s companies took out a £1m loan, guaranteed by the football club and secured on Gigg Lane, at 10% interest a month, a cumulative 138% annually. That loan is recorded as having been satisfied, and new loans were subsequently taken out, secured on Gigg Lane, including the outstanding one.
That small section of the piece is eye watering enough....Reading the rest was just beyond belief, there is no way back from this.....
tomorrow can't come quick enough on 15:28 - May 29 by MoonyDale
Promoted to League One last month, Bury have a series of loans from a company, Capital Bridging Finance Solutions, taken out during Day’s tenure at the club, which Dale says now total £3.7m and carry interest of almost £1,500 a day. In 2014 one of Day’s companies took out a £1m loan, guaranteed by the football club and secured on Gigg Lane, at 10% interest a month, a cumulative 138% annually. That loan is recorded as having been satisfied, and new loans were subsequently taken out, secured on Gigg Lane, including the outstanding one.
That small section of the piece is eye watering enough....Reading the rest was just beyond belief, there is no way back from this.....
How long before one of the creditors forecloses?
'Only happy when you've got it often makes you miss the journey'
tomorrow can't come quick enough on 15:52 - May 29 by James1980
How long before one of the creditors forecloses?
I can't see the judge allowing any further delays after the 19th but they could have already been booted out of the league by then....Although I detest cheats doing well and they deserve any punishment that may befall them I will miss the games between us both if the worst happens. The majority of fans on that board are clowns of the highest order but for the genuine supporters who did voice concerns over Day and Dale I genuinely feel for them....In whatever guise I do hope they still have a team to follow in the future and they manage to turn it around and become a club who lives within it's means ......
so if the worse(or best) does happen and bury are removed from the league - what does that mean for the composition of League 1 next season? Does anyone know? Will there be one team less and only 3 relegation places? Will one of the 4 teams relegated last season have that reversed? (presumably Plymouth as the team in 21st place) Will an extra team get promoted from League 2 to take bury's place? Is the rules on this written down anywhere or do they just decide on the basis of individual circumstances?
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tomorrow can't come quick enough on 16:42 - May 29 with 4442 views
tomorrow can't come quick enough on 16:26 - May 29 by Cedar_Room
so if the worse(or best) does happen and bury are removed from the league - what does that mean for the composition of League 1 next season? Does anyone know? Will there be one team less and only 3 relegation places? Will one of the 4 teams relegated last season have that reversed? (presumably Plymouth as the team in 21st place) Will an extra team get promoted from League 2 to take bury's place? Is the rules on this written down anywhere or do they just decide on the basis of individual circumstances?
Plymouth will retain their place in LG1 possibly with Ryan Lowe as manager and Notts Cheaty will retain their League status
0
tomorrow can't come quick enough on 17:05 - May 29 with 4382 views
tomorrow can't come quick enough on 18:11 - May 29 by aleanddale
sorry to labour this point.
There are some bright sparks on here that can offer a layman answer.
bury 2018 accounts have NOT been filed. They are close on 4 months late.
Can administration commence ( or a sale ) whilst this is the case?.
There is all this talk of funding admin and the elephant in the room that nobody is discussing is the 2018 accounts.
Looking from a distance, you can only imagine their reasoning for the late accounts, its surely another nail to hammer the lid down with I'm guessing,and yet more bending of the true extent of the shite they've got THEMSELVES into..
[Post edited 29 May 2019 19:07]
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tomorrow can't come quick enough on 19:12 - May 29 with 4040 views
tomorrow can't come quick enough on 18:11 - May 29 by aleanddale
sorry to labour this point.
There are some bright sparks on here that can offer a layman answer.
bury 2018 accounts have NOT been filed. They are close on 4 months late.
Can administration commence ( or a sale ) whilst this is the case?.
There is all this talk of funding admin and the elephant in the room that nobody is discussing is the 2018 accounts.
Yes. Administration can be entered into or a sale undertaken without those accounts being filed.
The principle reason for delay is likely to be the going concern principle of bury football club as at 31 May 2018.
Going concern says you will last a year from the later of the date of the accounts being signed.
Effectively the directors of bury have to say they will be around in a year.
If you go to the last set of bury accounts filed and look at Page 16 ; Note 2 (or Page 18 of the PDF) they have a section on going concern.
In last year's accounts it says Mederco Limited is making available a revolving credit facility of £5m in order to continue the Company's operations for the foreseeable future.
They can't put that this year because of Day's insolvency issues - so probably not a going concern and thus no chance of signed accounts being seen.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
tomorrow can't come quick enough on 13:16 - May 29 by krafty80
From a personal perspective, I would be lying if I said part of me wasn't enjoying seeing Bury get their comeuppance for years of living beyond their means. RAFCBLUE's extensive posts have highlighted the historical factors which have led them to where they are today, notably the Hugh Eaves saga of the mid-90s.
I was at school in Bury at the height of their success in the second tier, which was -- to put it mildly -- a grim experience for a Dale-born Dale fan watching Barrowball every week. Even then, I sort of knew the financial aspects didn't add up.
In the mid to late 2000s, after more brushes with administration, it was notable that Bury couldn't attract a private sector business sponsor to emblazon their club shirt, leaving the local council to do it instead, funding (if I recall rightly) the 'sponsorship' from the proceeds of Bury MBC's share in Manchester Airport Group. I know this wasn't popular with some in Bury who were local council tax payers but not Bury fans, including some in my family!
But after so many highs and lows I am struggling to get my head round the idea of them going under. I genuinely never thought it would come to this, and maybe quite a few Bury fans didn't either. Maybe they thought every owner would be like Uncle Hughie and it would all be alright on the night? I still have a hunch some 11th hour ruse will save them and they'll be a functioning League One club nest year. I'm not an accountant mind.
I know some hugely committed and sensible Bury fans though, so while part of me is desperate to gloat, I won't and can't. I will accept the several conversations I've had with them where praise has been lavished on Messrs Dunphy et al for running Dale 'the right way'. I guess the object lesson for us as Dale fans is to really think twice if we were ever to be in a situation where a benefactor/super investor/sugar daddy comes along and promises us the Championship or more. We all keep saying we would be sceptical and cautious and all that -- but we also berated Hilly for a perceived lack of ambition, so until we're in that situation I guess we wouldn't know for sure.
In the meantime, I wish those genuine and committed Bury fans luck establishing a 'phoenix club' several tiers below the football league. Maybe they could play in Farnworth?!
A groundshare with Bolton Wanderers is their best bet.
The League will be able to allow them alternate home and away games without and fixture or ground congestion given both a League 1 teams.
George Bernard Shaw had it right:
"He who can does; he who cannot, teaches."
https://www.visittheusa.co.uk/
tomorrow can't come quick enough on 10:27 - May 29 by TVOS1907
In the summer of 92, Maidstone resigned from the league after the fixtures had been arranged, so Division 3 had one team less and everyone else had two blank dates.
Despite the impending doom people are talking about the league two team of the year having three Bury players in it. They're also sending begging emails and letters out left right and centre
Surely it cannot be true that someone has posted their bank details on the Bury message board, page 2 Forever Bury post. Dear Mr Dale and Bob there is an account that you can empty
tomorrow can't come quick enough on 20:50 - May 29 by judd
Stewart Day has launched a new business.
Perhaps they could sponsor Bury for next season?
(PS do NOT mention Maidstone)
Bloody funny that some frantically look for reasons to ridicule this thread whilst refusing to acknowledge how they should have listened more all along.
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