Bury’s potential takeover bid from C&N Sporting Risk has collapsed, leaving the club expelled from the English Football League.
The football club had been given an extension to the original Friday deadline, with the new deadline set at 5pm on Tuesday to finalise the deal with C&N Sporting Risk.
Bury, the League One club, issued a statement on its website eighteen hours ago, telling supporters the club understands “that this is a difficult and emotional time for all supporters given the recent news regarding a potential takeover”.
The last team to be expelled from the English Football League was Maidstone, after it faced liquidation back in 1992.
“The EFL Board met earlier this evening and, after a long and detailed discussion, determined that Bury FC’s membership of the English Football League be withdrawn after the deadline passed at 5pm today (Tuesday 27 August) without a successful resolution,” a statement reads on the EFL website.
The EFL Board unanimously determined with “enormous regret” that Bury’s membership be withdrawn after all options were fully considered, including late expressions of interest.
League One will now be made up of 23 teams for the remainder of the season. Only three will face relegation to provide a full 24 teams for the following season.
⚪️🔵 The Club have released the following statement ⬇️ #buryfc https://t.co/eO65z4k45f
— Bury Football Club (@buryfcofficial) August 27, 2019
