Bury wait on EFL decision after Steve Dale agrees sale of club to C&N Sporting Risk
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BURY are anxiously waiting for the EFL to decide if they are to be given time to complete their takeover and avoid being thrown out of the game.
The League One club had been given a deadline of 11.59pm on Friday night to prove they had funds to see out the season or they would be expelled from the competition.
Two hours before time ran out, controversial owner Steve Dale announced he had agreed a sale to a consortium called C&N Sporting Risk.
The group, headed by Rory Campbell and Henry Newman, then lodged their own finances to EFL headquarters in an attempt to beat the deadline.
The EFL confirmed they had received notice of the sale in time - but still have to decide if they are to give Bury time to complete the sale or activate their notice to withdraw the club's licence.
League bosses continued talking through the night and are expected to resume deliberations while they wait for documentation early today, before announcing a decision.
An EFL statement said: "The EFL has this evening received notification that Steve Dale has accepted an offer from C&N Sporting Risk for the sale of Bury FC.
“We are currently in discussions with the potential purchaser and await information to allow the Board to consider a request for an extension to Friday’s deadline."
C&N group leader Campbell is the son of former Labour spin doctor Alastair - a lifelong Burnley fan.
And Newman had a short period working as joint-manager of Barnet. The group had been working with Bury North MP James Firth in trying to come up with a rescue package.
C&N said in a statement: “Over the past 10 weeks we have been in discussions with Bury FC, the EFL and others with a view to putting forward a proposal to buy the club.
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BURY are waiting to see if the proposed takeover will save themselves from expulsion from the EFL.
If the Shakers are thrown out, it would leave League One down to 23 teams and affect promotion and relegations in two division.
"It is a very complicated scenario and there remain a number of outstanding legal and other issues that have to be addressed.
“Our background is in football and data analytics and it should therefore not be surprising that we are taking a very detailed forensic look at the realities of Bury FC finances.
“A club like Bury ought to have a viable long-term future. To that end we have been in discussions with the EFL about an extension so that we can continue to explore the prospects for a purchase.”