Bury takeover deal has collapsed leaving club facing extinction

Bury FC / Twitter

A proposed takeover deal for Bury FC has collapsed at the last minute, leaving the club facing the possibility of extinction.

They now have less than an hour until the 5pm deadline, at which point the club could be expelled from the Football League.

C&N Sporting Risk, who were looking to take over the League One side, have now confirmed they've pulled out of a deal to save them.

C&N Sporting Risk 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. It is therefore with regret that we will be unable to proceed with the takeover of Bury FC. This decision has not been taken lightly. 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.

This comes after crisis-hit Bury FC asked fans to help them get the stadium ready for what would have potentially been their first game of the season earlier today.

The club now face being kicked out of the Football League.

Alongside fellow Greater Manchester strugglers Bolton Wanderers, they only have until 5pm today, Tuesday August 27th, to prove to the EFL that they can get their finances in order.

Bury were given an extension on Friday, to allow C&N Sporting Risk more time to complete a deal to buy the club.

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