The Bury summer signing uberthread. WARNING - Contains tinpot material

[T.A]

So a group last night told the EFL that they have the funds to save us but couldnt show it until this morning. Obviously the EFL rejected it but there seems to be noise about legal action if the EFL dont reconsider it.

This never ever ends

 

[Huntsman94]

So why come in with 40 minutes to go? It’s ridiculous to be honest. The bid was lodged at 16:20. If you want to put in £7million you’d have to be sure and to do that you’d surely lodge the bid weeks earlier!

You can be sure the EFL considered the bid but you can understand why nothing moved forward.

As sad as it is for Bury and as much as I feel for their supporters, all this false hope just makes it worse. Hope a Phoenix club can be formed and the Bury fans have at least something to shout about again

 

[stevie_howard]

It appears that this bid wasn't ever given a chance by the EFL. I was in the pub tonight and tried to watch the Lincoln game on the tele. I left before kick off. Thanks for all the messages of support, the truth is it could happen to any one of you. Could the EFL have done more to save us? Of course, but lets not lose sight of the real villains Steve Dale and Stewart Day. I note Dale has already changed phone number. If I was him I'd be well out of the country by now.

 

[stevie_howard]

So why come in with 40 minutes to go? It’s ridiculous to be honest. The bid was lodged at 16:20. If you want to put in £7million you’d have to be sure and to do that you’d surely lodge the bid weeks earlier!

You can be sure the EFL considered the bid but you can understand why nothing moved forward.

As sad as it is for Bury and as much as I feel for their supporters, all this false hope just makes it worse. Hope a Phoenix club can be formed and the Bury fans have at least something to shout about again

The bid was put in last week. The EFL ignored it and concentrated on their mate Alastair Campbells son. It was only a message as to why their bid was no longer being considered on Tuesday that they realised the EFL thought that the bid had been withdrawn. It never had. The EFL backed the wrong horse. Making the Campbell bid the only one they would consider over the weekend killed us.

 

[TrinidadsNumberOne]

I think this Brazilian takeover doesn't add up entirely. Why has it taken them until now and why didn't they do this a lot earlier if they had genuine funds? Also, the last Brazilian in charge of an English league club was a spiv called Diego Lemos at Morecambe. I hope he isn't part of any consortium wishing to take over Bury either. Furthermore, these claims that Bury will be able to play by Saturday if the Brazilians took them over seem farfetched given C&N discovered several unsustainable abnormalities regarding the finances of the club during due diligence. I assume they were referring to the car park, accrued debt and astronomical mortgage rate on Gigg Lane to name but three factors? These Brazilians haven't done any due diligence at all either so what exactly were they planning to do with the £7 million? Because it'd need a lot more than that to sort Bury out that's for sure.

As sympathetic as we football fans are, I can't see the EFL reinstating Bury at all now. The well run clubs chairmen would kick off for a start and it'd open up a can of worms if more games ended up being suspended too. They wouldn't have pulled the trigger if they genuinely thought this bid was realistic I'm sure. And I'm very critical of the EFL anyway. I know I've been a critic of Bury when they were under Stewart Day and his ridiculous spending spree but I prefer to remember the good fans who used to let us in their social club whenever we played them and we had great chats and no bother whatsoever. No fan deserves to see their club go to the wall and I really hope Gigg Lane can be protected from the crooks and charlatans swarming around it. It'd be a sad shame to lose that as well as Bury Football Club.

 

[stevie_howard]

The 7 million covers the CVA, football creditors and the 1.5 million to cover losses for the season. In no way is the 7 million to actually reapy the other stuff or sort the team out. The company is worth over 500 million ffs. The fact the EFL didn't give it a chance is a joke.

 

[valefan16]

The 7 million covers the CVA, football creditors and the 1.5 million to cover losses for the season. In no way is the 7 million to actually reapy the other stuff or sort the team out. The company is worth over 500 million ffs. The fact the EFL didn't give it a chance is a joke.

If a company is worth that it suggests they like to make money but the issues attached to Gigg Lane look as though they are not workable as a business model going forward.

Sadly think this is just prolonging the pain by giving false hope to the fans and is unfair on them.

 

[T.A]

 

[UTS]

A random Brazilian bloke taking over Bury F.C. at the 11th hour just sounds too dodgy.

A quick google search of SJ Global, this apparent £500M company, returns nothing apart from a company with a HQ in Norwich with 2 employees.

 

[T.A]

New, strange twist on Bury FC: MPs asked EFL today to give club more time to thrash out a deal with a new bidder who came forward yesterday. That mystery bidder can be revealed as Gustavo Ferreira, a Brazilian pastor (more on that later) and his goldmining firm WGS Mining.

Ferreira told me they’d offered £7m for Bury FC having been alerted to club’s fate by Adriano Basso, the Brazilian former Bristol City and Hull goalkeeper.

Was the bid credible? Those close to it seemed to think so and wanted extra 24 hours from EFL.

Ferreira’s a colourful character: London-based, football-mad, travels world preaching gospel. Oh and runs two orphanages in Kenya and India, he said.

‍

 

[Kim Jong Un]

Sorry to dig up old ground, but I'm still a bit confused over who was spending the money at Bury in their relegation season in League One and promotion in League 2?

Did they just spend a load of cash and then leave the club in the shit?

 

[T.A]

Sorry to dig up old ground, but I'm still a bit confused over who was spending the money at Bury in their relegation season in League One and promotion in League 2?

Did they just spend a load of cash and then leave the club in the shit?

Stewart Day spent the money and then sold the club in secret to Dale for a £1 and fucked off.

EFL meeting at 12 to discuss Bury.

 

[UTS]

Stewart Day spent the money and then sold the club in secret to Dale for a £1 and fucked off.

EFL meeting at 12 to discuss Bury.

We don’t know for definite if it’s to discuss Bury, do we?

I’d bet it’s more to do with what happens next at Bolton.

 

[shoddycollins]

https://www.ft.com/content/5f185398-c9a6-11e9-a1f4-3669401ba76f

A decent explainer from the FT about things like Day's crazy money-making schemes and how Dale himself is Bury's main creditor.

 

[WhiteRussian]

https://www.ft.com/content/5f185398-c9a6-11e9-a1f4-3669401ba76f

A decent explainer from the FT about things like Day's crazy money-making schemes and how Dale himself is Bury's main creditor.

I'm hitting a paywall with that.

 

[T.A]

We don’t know for definite if it’s to discuss Bury, do we?

I’d bet it’s more to do with what happens next at Bolton.

We'll see.

 

[shoddycollins]

I'm hitting a paywall with that.

Odd... I didn't the first time but now I am too.

UPDATE: If I do a Google Search for 'Bury', which is how I originally found the article, it is one of the top news items and not paywalled when you click on it

 

[Indian Dan]

If there’s one change that could easily be implemented and be a big step forward in transparency is to do away with undisclosed transfer fees.

It gives both clubs the opportunity to what boils down to fraud in their balance sheets. If anyone can come up for a reason why undisclosed fees are a good thing, I’d like to hear it.

 

[shoddycollins]

If anyone can come up for a reason why undisclosed fees are a good thing, I’d like to hear it.

It's commercially sensitive data is why. The buying club doesn't want other clubs they may do business with knowing how much they're willing to pay for a player while the selling club doesn't want other clubs knowing how much they now have.

In doing a deal, the selling club will have a minimum they're willing to accept and the buying club will have a maximum they're willing to pay. If they're to get a better deal though and sell for more than that or buy for less than that they need the other club to have no idea what that maximum/minimum is.

As a reason that doesn't necessarily trump the advantages to football as a whole of making it all more transparent but you asked for a reason and that's the one.

 

[Indian Dan]

Decent enough reason, but it doesn’t outweigh the transparency of the transaction in my eyes. Anyway, I reckon chairmen throughout football have a good idea what a player actually goes for. It’s just in all their interests to keep it hidden. I’m sure HMRC would like to know, too.

Needs knocking on the head, pronto.

 

[DearneValleyRover]

Apparently there is an ongoing meeting to try and reinstate Bury as I post this

 

[shoddycollins]

Decent enough reason, but it doesn’t outweigh the transparency of the transaction in my eyes. Anyway, I reckon chairmen throughout football have a good idea what a player actually goes for. It’s just in all their interests to keep it hidden. I’m sure HMRC would like to know, too.

Needs knocking on the head, pronto.

Well undisclosed fees don't free clubs from the obligations to file accurate accounts with HMRC, but given accounts are filed for the previous financial year, by the time the fees the club have recieved/paid, show up in that a year has usually elapsed and it's no longer as sensitive.

Perhaps the best of both worlds is to say they can only remain undisclosed until the transfer window following the sale closes, so for example, all transfer fees during this window must be disclosed once the January window closes.

 

[Marked Ox]

The 7 million covers the CVA, football creditors and the 1.5 million to cover losses for the season. In no way is the 7 million to actually reapy the other stuff or sort the team out. The company is worth over 500 million ffs. The fact the EFL didn't give it a chance is a joke.

Hasn't this all come about because of being run at unsustainable losses? Why would the club be running at a £1.5m loss this season? They've lost a lot of costly salaries so they won't have them or is the mortgage etc that costly which would suggest it isn't sustainable anyway.

 

[WhiteRussian]

So who are these new prospective buyers who are worth 500 million?

 

[Son of Cod]

So who are these new prospective buyers who are worth 500 million?

via Imgflip Meme Generator

 

[valefan16]

So who are these new prospective buyers who are worth 500 million?

A Brazillian Priest I read, who owns a Sunday League side or something in London.

 

[Gladders]

https://twitter.com/x/status/1167067496228315136

 

[Chris FGR]

A Brazillian Priest I read, who owns a Sunday League side or something in London.

And why does this priest suddenly want to buy Bury, and why has he not made a bid earlier?

And why is due diligence not an issue? Sounds dodgy as fuck.

Don't think panic selling the club to any random bidder at this point is going to do Bury any favours in the long run. They need a solid, reliable structure and to get away from dodgy charlatans who keep lining up to further wreck the club.

Is there any chance Bury fans could put together a consortium of some sort to try and raise the money to buy Dale out?

 

[Indian Dan]

Brazilian pastor?

Fuck me. Bite the bulletin, get these blood suckers off your back and start again.

 

[T.A]

The EFL arent going to accept it anyway whoever it is.