Strange news is coming out of Gigg Lane
Where are we upto?
So Gigg Lane is the home of Bury FC
Bury FC is owned by Steve Dale, (SD2), the guy who says he has no interest in football, never knew Bury had a football team until he bought them for £1, who is the 'Last' Chairman of Bury FC.
Dale is in the history books because he got Bury FC expelled from the EFL.
Because he got Bury FC expelled, he can not enter any team in any league.
Because of his continued ownership, Bury FC lost the opportunity to be placed in a division only two divisions lower than we were expelled from (L1)
Bury FC has not had a team for two seasons and dale's actions have lost our membership of the FA.
Dale has placed Bury FC in administration and appointed Mr Wiseglass as administrator
All of these mean any new team will have to make a new registration with the FA to be placed in the lowest tier of the pyramid system, and because of the financial mismanagement at Bury FC, any new team can not be called Bury FC
But news has leaked
Another man with no connection to Bury, who lays claim to be a main sponsor of Ilkeston Town FC (Derbyshire) called David Hilton is going to buy the charge on Gigg Lane, and presumeably Bury Football Club Company Ltd and Gigg Lane
..the charge on Gigg Lane is a charge to a financial company called Capital Bridging Finance who lent money to the previous dodgy chairman of Bury FC, Stewart Day (SD1) at ridiculous interest rates and with a huge introduction fee. Capital Bridging Finance are themselves in administration.
They borrowed this money from a Maltese Pension Fund ( about £3.8M)
Some link with bank accounts in the British Virgin Isles too
There are numerous large debts owed by Bury FC. Dale stopped all payments to staff, players, businesses as soon as he arrived, lost the teams, the youth set up everything.
The charge on Gigg Lane is apparently greater than the value of Gigg Lane, a 7ha site fairly near the centre of the town
So the Bury FC is in administration with no football team, in no league, has no players or staff, has major debts, why would a stranger want it?
There are plenty of other complications too.
Dale SD2, manipulated proceedings to get a CVA (agreed payments to creditors) set up and then did not make any payments, so the CVA was cancelled and all the payments are owed in full.
Wiseglass was the man in charge of the CVA.
Day SD1, owned companies called Mederco, to build student accommodation and carparks. All his Mederco companies are in administration to the tune of over £50M allegedly
I dont fully understand but somehow Mederco claim to be owed £7M from Bury FC. This claim has been bought by the partner of Dale's (SD2) daughter for £70k, which gave SD2 control of the CVA arrangements, and then the payments for the £70 k were never made in full.
SD1 also sold about 250 car park spaces at Gigg Lane on 25y leases promising 9% returns on £10k investments plus money back ( or something like)
Anyway my head hurts now.
So David Hilton, being regarded as a hero by the number of fans who say they only want Bury FC at Gigg Lane
His web site and track record show no money in the pot. He bought a canal side pub in Cotmanhey and has run it down as he tries to bully the council to let him build flats
So we will see where this leads
Some are excited thinking he will resurrect Bury FC
I am glad that over 300 Bury FC fans had the determination to keep football alive in Bury with the formation of the fan owned club Bury AFC
We didnt need this covid closing the leagues to add to our 'lucky' tale
Good luck to you all
I will update when i find out more
Cheers