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 penalty
from Football | The Guardian https://www.theguardian.com/football/2019/jun/25/bury-owner-steve-dale-debts-winding-up-petition-points-penalty
• Deal would avoid winding-up petition but not points penalty
Steve 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.
Continue reading...from Football | The Guardian https://www.theguardian.com/football/2019/jun/25/bury-owner-steve-dale-debts-winding-up-petition-points-penalty
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