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Three new takeover offers on table for Bury – Sky sources | UK News

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Three new takeover offers for Bury are on the table, according to Sky sources, after a proposed deal earlier fell through at the last minute.

With just 90 minutes before a deadline for a deal to be completed, C&N Sporting Risk said it was “unable to proceed” with its takeover of the Lancashire club.

Bury had until 5pm to prove a deal had been done or provide reasons for requiring an extension, otherwise they face being kicked out of the EFL after 134 years.

Football scarves have been left outside the club
Image:
Bury FC were founded in 1885






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But news of the three offers will give fans of the League One side fresh hope that a solution to their plight could be forthcoming.

Another EFL side, Bolton Wanderers, are also on the brink of liquidation and faced the same 5pm deadline.

Speaking earlier, administrator Paul Appleton said the future of the team was “still in doubt” but hoped there would be a “positive outcome” before the deadline.

The club said in a statement shortly after 5pm: “Discussions are ongoing with all parties and a further statement will be issued later this evening.”

Bury are yet to play a game this season, having already been docked 12 points when they were placed into administration by current owner Steve Dale, who bought the club for £1 in December.

He had been in talks with the London-based data analytics company over a potential takeover.

Mr Dale had originally been given until midnight on Friday to prove he could pay off the club’s debts and fund the next two seasons – or find another party that could.

Two hours before that deadline, Mr Dale said he had sold Bury to C&N.

This prompted the EFL to extend its deadline to 5pm on Tuesday to give both sides more time to complete the deal.



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But C&N wanted more time – and the firm has now said it cannot go ahead.

The company said in a statement: “As part of our due diligence, we set ourselves a list of key criteria regarding the CVA, the ground and the overall financial state of the club that had to be met in order for us to be satisfied that we have enough knowledge to proceed with the takeover.

“The complexities involved in each of these matters escalated and continue to do so.

“It is therefore with regret that we have decided not to proceed with the takeover of Bury FC.

“This decision has not been taken lightly.



Former Bury FC director Joy Hart handcuffs herself to a drain pipe at the club's ground



Former director handcuffs herself to lamppost outside Bury’s ground

“We fully understand the importance of the club to the community and it is with this in mind that we have informed the EFL of our decision at the earliest possible opportunity.”

The EFL said before the deadline passed: “The league announced at the weekend that it was working exclusively with the club and C&N in an attempt to finalise a change of control at the club.

“However, following a period of due diligence, C&N have opted not to progress matters.

“The league continues to be in discussions with Bury FC in advance of today’s 5pm deadline and will provide a further update as appropriate.”

C&N was set up in 2017 by former Labour spin doctor Alastair Campbell’s son Rory Campbell and former Barnet caretaker manager Henry Newman, who met while scouting for West Ham.

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