| David Conn has done a piece on Bury's financial mess 09:28 - Jun 19 with 1021 views | Steve_M |
https://www.theguardian.com/football/2019/jun/18/bury-inside-story-financial-rui
"Day told the Guardian that his property businesses were blown over by a national economic storm: high-street banks would not lend to a small company such as his, he said, so his financing relied heavily on Lendy, a “peer-to-peer” crowdfunding-type operation which is itself in administration and under investigation by the Financial Conduct Authority."
Healthy. [Post edited 19 Jun 2019 9:32]
|  |
| |  |
| David Conn has done a piece on BUry's financial mess on 09:34 - Jun 19 with 998 views | Guthrum |
Was just reading that. Even worse is the fact the club had to pay a 40% "introduction fee" to someone (unknown) in order to secure a loan, which still accrued 7.5% interest (on the full amount, including the "fee").
Funding for business is completely up the spout. |  |
| |
| David Conn has done a piece on Bury's financial mess on 09:38 - Jun 19 with 992 views | ITFC_Forever |
Quote from near the end from the guy working with the supporter's club:
"This is a cautionary tale, for Bury and other smaller clubs,” he said. “We can’t live beyond our means and rely on some benefactor to fund it..."
Our fans will do well to remember that the next time they moan about ticket prices and our lack of £3m signings etc
ME is (very) far from perfect, but we are, relatively, football paupers by Championship standards now, never mind Prem standards.... yet we still spent 108% of our income on wages, all to finish bottom and get relegated.
Football is screwed - money has finally killed it. [Post edited 19 Jun 2019 10:05]
|  |
| |
| David Conn has done a piece on Bury's financial mess on 10:40 - Jun 19 with 888 views | EastTownBlue |
Case adjourned for six weeks. |  | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
