The Chairman has issued the following statement:
We, as a Club are saddened by recent events from a body who should have the best interest of Clubs as it’s primary objective, clearly this is not the case.
We, as a Club had come through such adversity left from the previous owner and had started to make headway, the majority of rot had been cut out and the atmosphere at our Training Ground was fantastic, where a positive air had started to replace the despondency of the legacy. New players were arriving with an open mind and looking forward to the new season as were our fantastic new staff.
We thought we were finalizing with the EFL on any outstanding matters that needed addressing, they were fully aware that SAG were happy with our progress and upon the lighting replacement being completed ALL matters were concluded and the certificates would be issued the next day. The Council also confirmed this to the EFL so no worries fulfilling fixtures.
Our CVA had been put forward and we had proven to the courts our ability to fund it and it was passed after 5 months of hard work, this closed off the past where creditors would be dealt with by the administrator, or so we thought.
We submitted all that we were asked to by the EFL in the week prior to their “statement” not as they stated, “not submitted.” So as far as we were concerned we were up to date and requested they lift the embargo so we could sign our players as we were running the risk of losing them.
We then received an email explaining they felt it prudent to amend our cash flow/business plan to show a £1.5m loss and they required additional funding, as this was not factual we challenged their assertion as it was based we were advised on “sensitised feel” not facts, we forwarded the facts to qualify our plan and dismiss their “sensitised feel.”
So at this point, we felt all had been covered and we could continue with the upward trajectory we were on, get our players signed and all was good, Bury was on its way.
THEN THE INFAMOUS EFL STATEMENTS
I was advised by the EFL chair that board pressure had been put on her to send out a statement, however, she had the decency to advise me by phone prior, which was and has always been appreciated.
I explained all the matters were covered, we had spoken and agreed in principle the player debt with the PFA and within the CVA, the CVA administrator sent a letter to the EFL confirming all was as it should be and he was happy creditors would be met within it. They had our business plan and to save the matter protracting we sent proof of funds to cover the fictional £1.5m loss, furthermore, they had been contacted by the Council informing them the SAG licences had been cleared.
They still, however, felt it prudent to ignore the facts and send out the incendiary statement for no gain to anybody other than to discredit Bury FC and it’s Board.
The effect of that to our Club has been unrest in players thinking there would be no Club, loss of players, sponsors pulling out and 5 months of hard work being destroyed by them, then you have the subsequent media garbage inciting unrest and the trolls rearing their sorry heads again, all based on ill truths or at best negative spin, for what?
They then contacted Jill Neville late at night to say a further statement was being put out, our Staff and the Club Lawyer tried to contact them to no avail to ask what was their next statement based on as they had everything, it turned out the game would not go ahead?
They contacted us giving us more time, we asked what further could be given, our cash flow was solid, the mythical £1.5m requirement was covered should it ever be needed by an offer letter and they themselves advised “The EFL is aware the £1.5m may not be required it's a worst-case scenario forecast. It may never need to be drawn down on.” And again they were advised the PFA were working with us on a settlement however this was covered by the CVA, so you would assume once again all good.
Then the EFL meeting last night and subsequent statement, where they decided the POF letter of £1.5m was not sufficient they wanted money in the bank to cover the requirement they themselves say is not needed, and let’s not forget, in addition to our positive cash flow, the EFL have withheld payments to the Club of £569,493 including August payment, not the actions of a body there to help, but certainly if released would cover possible eventualities they deem prevalent. They also disputed our agreement with the PFA even though our Lawyer and prominent third parties were privy to this. Still, they postpone the match and again for what gain?
I am unsure at this juncture where Bury go when the body that should be there to help us works against us, however, I felt it important to set the record straight and hope the EFL try to be reasonable.
We, as a Club, promise you that we will challenge this injustice in whatever forum necessary.
Steven D Dale