Bury expelled from Football League after takeover talks collapse
Bury has been kicked out of the Football League, after a failed takeover by C&N Sporting Risk.
The Bury of League One has been kicked out of the football league after months of negotiations over an acquisition.
The club had received until 5pm on Tuesday to agree on an acquisition, but after the talks were interrupted at 11, the EFL expelled them.
Bury is now the first team to leave EFL since the liquidation of Maidstone in 1992.
The league will now continue for the rest of the year with 23 teams, while Bolton Wanderers fighting partners have only 14 days to save their place in the competition.
Sporting C&P had proposed an acquisition, which owner Steve Dale had accepted, but the company withdrew its interest at the end of the day.
Despite the late interest of other unidentified parties, the league council decided to withdraw Bury from the league.
Debbie Jevans CBE, CEO of EFL, said in a press release that the league did everything possible to find a resolution.
“Without a doubt, today is one of the darkest days in the recent history of the League,” he said.
“The EFL has worked with determination and tirelessly to avoid this result and it is with great regret that this situation has been imposed on us.
“The EFL has to place the integrity of our competitions at the center of every decision we make, and we simply cannot allow this unacceptable situation to continue or tolerate the possibility of postponing more matches.
“I understand that this will be a deeply disturbing and devastating moment for Bury players, staff, supporters and the general community.
“There is no doubt that today’s news will be felt throughout the football family.
“Nobody wanted to be in this position, but after repeated unfulfilled deadlines, the suspension of five League games, in addition to not receiving the evidence we require regarding financial commitments and a possible acquisition does not materialize; the EFL Board she has been forced to make the most difficult decisions. “
Bolton has been given 14 days to seal his future in the league.