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SBD Global/April 11, 2013/Franchises

Financial Crisis Deepens For Bury FC, Club Seeks $1.5M From Investors To Stay Afloat

League One side Bury FC has "issued a desperate plea for investment," saying it needs a loan of £1M ($1.5M) to stave off financial disaster, according to Sarah Ebner of the LONDON TIMES. The 127-year-old club is currently at the bottom of League One, with just 34 points in 42 games. They are "under a transfer embargo," imposed by the Football League, after accepting a loan from the Professional Football Association. In a boardroom statement, they admit to having “financial difficulties all season” (LONDON TIMES, 4/10). Bury Chair Brain Fenton said, "The club desperately needs £1 million of external investment to secure the long-term future of the club. Without this investment the club will cease to trade and there will be no more professional football played at Gigg Lane" (LANCASHIRE NEWS, 4/10). Fenton said that the club is "looking for 10 investors" to each put in £100,000 ($153,000) to save the club (MANCHESTER EVENING NEWS, 4/10).
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