URGENT: Bury FC Petition (update: expelled) | Page 12 | PASOTI
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URGENT: Bury FC Petition (update: expelled)

Biggs

Biggs

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pafcprogs":116qkudp said:
Can you explain how an individual such as Stephen Dale can effectively own a member club without any effective scrutiny by your organisation? Was it incompetence, indifference or negligence? Or was there another reason because there has to be a reason and it is incumbent upon you to know what that is in order to apply your regulations effectively in future.
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The answer to this one is fairly simple though. Bury were going to go out of business 8 months ago, when the only person that wanted to buy them was Steve Dale. That's why the EFL didn't do their normal checks because the situation was so desperate and the alternative was going bust then instead of now.

A terrible owner, but there was no-one else that wanted to 'save' them. If they hadn't ratified that sale, then they'd have been accused of letting a club die.
 
Pogleswoody

Pogleswoody

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Biggs":132dgbr1 said:
pafcprogs":132dgbr1 said:
Can you explain how an individual such as Stephen Dale can effectively own a member club without any effective scrutiny by your organisation? Was it incompetence, indifference or negligence? Or was there another reason because there has to be a reason and it is incumbent upon you to know what that is in order to apply your regulations effectively in future.
Click to expand...

The answer to this one is fairly simple though. Bury were going to go out of business 8 months ago, when the only person that wanted to buy them was Steve Dale. That's why the EFL didn't do their normal checks because the situation was so desperate and the alternative was going bust then instead of now.

A terrible owner, but there was no-one else that wanted to 'save' them. If they hadn't ratified that sale, then they'd have been accused of letting a club die.
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But they did let the club die, by allowing it to be bought for £1 by a person who wasn't fit and proper.

So, Mr Bury, we were going to execute you tomorrow morning but this kind gentleman has offered to torture you every day for the next eight months, free of charge! You might enjoy it! You might survive!! You can't say that we aren't trying to help you!! ;)
 
Biggs

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Pogleswoody":3axf1iyk said:
But they did let the club die, by allowing it to be bought for £1 by a person who wasn't fit and proper.

So, Mr Bury, we were going to execute you tomorrow morning but this kind gentleman has offered to torture you every day for the next eight months, free of charge! You might enjoy it! You might survive!! You can't say that we aren't trying to help you!! ;)
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True, but I think most people would take a 10% chance of survival over instant death.
 
Adam R

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I think people get a bit caught up on the £1 purchase fee. Standard practice for a club in the brown stuff with debts and no real assets. It can’t change hands for nothing so a nominal £1 is paid for the shares.

Did he think he could make anything out of it? Maybe, but so did Brent. Did he intend to screw them over? Not sure.

I wonder if all stakeholders (player/manager/suppliers etc) were aware? I understand clubs are the centre of most communities and we don’t want to see any go bust, but that doesn’t afford them the chance to rack up debts they can never repay.
 
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Adam_R":1ic0yns0 said:
I think people get a bit caught up on the £1 purchase fee. Standard practice for a club in the brown stuff with debts and no real assets. It can’t change hands for nothing so a nominal £1 is paid for the shares.
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Exactly, so it’s not so much paying £1 for it and more paying a nominal fee to take on the £3m debt or whatever it was.

So the buyer is effectively £2,999,999 down upon taking over the club, if he pays off those debts. Looks like Steve Dale 1) couldn’t pay them off, 2) the debts were much worse than he thought they were, and 3) seems a terrible businessman and a volatile person.

Dale was a completely inadequate owner, but it’s basically a case of musical chairs where the stereo has finally packed up and he’s the bad owner that happens to be standing.
 
IJN

IJN

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Don't agree BIgsy, he's as bent as a three speed walking stick. Not quite as dodgy as Day though.

Dale has a family involvement in the mortgage on Gigg Lane I believe. Perhaps demolition of the famous old ground was his aim.

Both men need to answer questions in my opinion.
 
IJN

IJN

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Knibbsworth":2i8uhnc8 said:
Just goes to show what an incredible job James Brent did when he inherited a mess.
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It certainly does, but what a shame a certain group took against him eh? Funnily enough, most are now heavily involved with the AFT now. Strange that.
 
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