A winding-up petition for Bury has been adjourned as one of three possible buyers look set to lead the club heading into League One.
The League Two runners up were given time for owner Steve Dale to find his successor, and clear up the current debt. Owner Dale has been given till the 19th June to find a new custodian.
On a positive note, up to three potential buyers are said to be interested in buying the club, although no agreement has been reached as the Shakers returned to court following on from the previous adjournment last month.
Dale said there was ‘potential interest’ in taking over his role as chairman, with the door wide open for new investment. Bury are said to be an ‘attractive proposition’ after the clubs most recent promotion.
However, as any fan of an EFL club will know, nobody is out of the woods just yet. This has been a lucky day for the Shakers, after being given vital time with regards to finding new ownership.
Sporting director Lee Dykes was removed from his job last week with the aims to limit outgoings. HMRC is owed £277,640.77 in unpaid tax, though they are confident this money will be paid back.
After Bolton Wanderers were placed into administration and a 12 point penalty for the start of next season in League One, this is, therefore, a fairly positive outcome.
Yet all this will be for nothing unless a change of ownership takes place and one of the potential investments proves to be a success. North Ferriby of the Non-League fell to existence only this year, even though they only owed debts of £8,000.
Bury clearly owe far more than this, but the priority has to be finding a new owner; the third in less than 12 months. The future of manager Lowe and several first-team players will be up in the air for as long as the background politics goes on.
Anyone who has an interest with Bury will wait for the conclusion of this financial drama with great interest. Still, the long term future of the 134-year team is still very much up in the air.