Interesting article regarding Bury's financial mess....

[blue pilot]

Interesting article about the complex web surrounding Bury's finances and ownership. Cant help wondering how far away from this situation other clubs (including ours) might be and the myriad of loans, mortgages, cross-company interests etc....

https://www.theguardian.com/football/2019/aug/27/bury-historic-club-football-league-financial-ruins

 

[Firestorm]

Day appears to have used the club to underpin his failing business empire, with loans from all and sundry using Bury and their assets as security

Rons business empire is based around the ongoing viability of SUFC and the new stadium, and its his companies lending money to SUFC not vice versa

 

[blue pilot]

But who is lending money to his companies? The stadium is owned (mortgaged?) by one firm (which is owed rent by SUFC), I think another firm owns much of the land at Fossetts, who will no doubt own the stadium (if its ever built) and will in turn charge rent to SUFC...

 

[kevst183]

Police apparently investigating possible fraud

 

[The Big Dady]

Police apparently investigating possible fraud

At SUFC or Bury or both?

 

[kevst183]

Only Bury..... so far