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Bury takeover did not have EFL approval

The takeover of Bury FC last season by Steve Dale for £1 was not approved under Football League regulations: Bury takeover

An offer to settle 25p in the pound of the club’s non-football and unsecured debts – HMRC was owed £1m at that point – but the creditors’ voluntary arrangement (CVA) proposal was adjourned this week. The administrators of Mederco, one of Day’s collapsed property companies, has claimed since the proposal was made that it is owed approximately £7m in loans made to Bury while Day owned the club.

Bury Supporters' Trust have sent an open letter to the chairman expressing their concerns and saying that the heart and soul has been ripped out of the club over the last few weeks: Open letter

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