Dale accepts offer to sell Bury

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Bury owner Steve Dale reaches an agreement to sell the club just hours before the EFL’s expulsion deadline, Sky Sports News reporter Alan Myers confirms

Bury owner Steve Dale reaches an agreement to sell the club just hours before the EFL’s expulsion deadline, Sky Sports News reporter Alan Myers confirms

Bury owner Steve Dale has accepted a takeover offer from a London-based consortium, Sky Sports News understands.

With Bury under threat of liquidation and expulsion from League One, Dale had been given until 11.59pm on Friday to either provide proof he can fund the League One side this season or hand it over to someone who can.

The deal still requires EFL approval. If the prospective buyer is deemed credible the EFL could consider extending the deadline of the ‘Notice to Withdraw Membership’, however, that would need to be completed within a window of 24-48 hours.

The EFL is expected to provide an update on the situation on Saturday.

Dale bought Bury for £1 in December after previous owner Stewart Day ran up huge debts following years of overspending at Gigg Lane.

2:09

Bury owner Steve Dale should be disqualified from owning the League One club, according to businessman Joe Carla, who has made several bids to try and buy the club

Bury owner Steve Dale should be disqualified from owning the League One club, according to businessman Joe Carla, who has made several bids to try and buy the club

Having initially claimed to buy Bury for “philanthropic” reasons, Dale put the 134-year-old club into administration this summer and engineered a debt repayment scheme.

The scheme, known as a company voluntary arrangement, would see creditors paid only 25 per cent of what they are owed, with him and his associates being the main beneficiaries.

His plan, however, depended on Bury being allowed to start the season – with a small squad and skeleton staff – and the English Football League handing over the club’s share of its central income.

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With Bury’s future hanging by a thread, owner Steve Dale issued a desperate plea on Friday morning for people to pledge money to help him save the club

With Bury’s future hanging by a thread, owner Steve Dale issued a desperate plea on Friday morning for people to pledge money to help him save the club

That, as desperate Bury fans are well aware, has not happened.

On Friday morning, Dale called on supporters and other interested parties to pledge a total of £2.7m to save the club.

Having previously greeted each EFL postponement of a Bury game – five league fixtures and an EFL Cup tie so far this season – with an angry statement on the club website, Dale announced he was willing to listen to offers for the club early last week.

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