Source: TheGuardian
Bury owner Steve Dale offers to settle some - but not all – of club’s debts
• Proposal to pay football creditors in full and 25% of other money• Deal would avoid winding-up petition but not points penaltySteve Dale, the owner of financially stricken Bury football club, has offered to settle some of the club’s debts and avoid a winding-up petition by paying the football creditors – including the players – in full, and a quarter of the almost £4m owed to others. However, the club still faces the likelihood of a 12-point penalty being imposed before the beginning of next season.Dale, who took over the club for £1 from the previous owner, the property developer Stewart Day, in December, is stated in the company voluntary arrangement (CVA) proposal to be owed £3.6m himself. Related: ‘We never got that money’: the inside story of Bury’s road to financial ruin Continue reading......read full article
