Football news - Bury expelled from EFL, Bolton given extension as deadline passes
ByReuters
Updated 27/08/2019 at 22:11 GMT
Bury have been expelled from the English Football League after 125 years of membership due to the financial problems at the club and their failure to find a buyer.
Gigg Lane, home of Bury FC
Image credit: PA Photos
Earlier on Tuesday, C&N Sporting Risk pulled out of its proposed takeover of the League One side Bury, leaving the club in a perilous position before the 5pm deadline to complete a sale to prevent expulsion from the EFL.
Just after 11pm on Tuesday, the news broke that Bury's membership of the EFL had been terminated.
Bury, one of English football's oldest clubs, joined the Football League in 1894, nine years after they were founded, and have always played at their Gigg Lane ground.
Club owner Steve Dale had informed the EFL last weekend that he had accepted an offer from the London company.
C&N had said it was in discussions to buy the club but there remained a number of outstanding issues to be addressed.
"The EFL Board has been informed that C&N Sporting Risk will no longer be pursuing their interest in Bury FC," it said in a statement.
"The League announced at the weekend that it was working exclusively with the club and C&N in an attempt to finalise a change of control at the club. However, following a period of due diligence, C&N have opted not to progress matters."
Bolton Wanderers, meanwhile, have been given a 14-day extension to find alternative owners.
On Saturday, a proposed takeover of the club fell through, and no further deal had been forthcoming.
Bolton, who have been in administration since May, started the season with a 12-point deduction and manager Phil Parkinson and his assistant Steve Parkin resigned last week.
As the 5pm deadline passed, Wanderers tweeted: "Discussions are ongoing with all parties and a further statement will be issued later this evening."
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