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Struggling Bury FC in "Critical" Financial Trouble

Wed 10th Apr 2013 | Money & Finance

League One side Bury are appealing to any interested parties to form a consortium and invest £100k each to rescue the club from their current financial peril. Bury are currently hovering over the trapdoor in bottom position and could be relegated this weekend if they are beaten by rivals Oldham Athletic.

The PFA granted the Lancashire side a short-term loan in February but they remain under a transfer embargo, their second sanction of this ilk this season. Bury were forced to allow defender Joe Skarz to depart and sign for Rotherham on deadline day in an effort to slash their wage bill while some players are thought to have been playing for free. Attendances have plummeted from around the 3,500 mark to an average of 2,700 during this campaign and boss Kevin Blackwell has struggled to select a full substitute bench for several matches recently.

A statement from the club, released this afternoon read:

"Bury FC has been experiencing financial difficulties all season and we are currently in a transfer embargo imposed by the Football League because of our short term loan from the PFA.

"At this moment in time the situation is now critical. We are quickly running out of money by trying short-term fixes that are not working long term.

"The club desperately needs £1m of external investment to secure the long-term future of the club. Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane.

"We are looking for a number of people, local businessmen or women to join a consortium and invest £100,000 each, with a guaranteed payback.

"We need you now because - I repeat - the club will close. We have a responsibility to all of our staff, players and creditors to not allow the situation to get any worse."

Posted by: Dan Carson

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