EFL Confirm Bury Will Start 2019/20 Season With 12-Point Deduction Following Insolvency
The English Football League have announced that Bury are set to begin the 2019/20 season with a 12-point deduction following insolvency.
The news came after the club revealed they had finally agreed on a debt-clearing Company Voluntary Arrangement 'rescue-plan' that will allow them to maintain operations and pay back the creditors over due course.
However, their insolvency means a contravening of the EFL's regulations, with said points deduction their punishment.
In a statement on their website, the EFL announced: "Following receipt of notice that the Company Voluntary Arrangement (CVA) has been passed in respect of Bury Football Club, the EFL can confirm that the Club has now suffered an insolvency event and will be subject to a 12-point deduction.
"In accordance with EFL Regulations, the sporting sanction will take effect immediately and the Club will start the League One season on minus 12 points. The Club has seven days to appeal.
The EFL will now continue its discussions with the Club’s ownership with the aim of achieving a long-term future for the Club."
Earlier in the day, upon reaching the agreement, the club's chairman Steve Dale, in an official statement, declared: "Today was a major day for our beloved Club, the old girl is safe. The CVA was passed so our future is secured as I said I would.
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"We have worked tirelessly to achieve the result today whilst taking a lot of flak, some might say our methods were questionable but we can all pass comment with hindsight, my job was to save Bury FC and that’s done, we have other hurdles but the main one is complete.
"There will be a lot to put out that will lift spirits over the coming weeks, we have 27 players in training and seeing them play we have a lot to look forward to over this season.
"Over the next few days we have to tidy up outstanding issues with the EFL which we are on with, we look forward to working with the new Chair and her team."
