Bury have been given a reprieve until 5.00pm on Tuesday following news that the stricken club has been sold.
In a statement The Football League said:
“The Board has fully considered the information that has been made available by C&N Sporting Risk and whilst no formal sale has been completed, despite reports to the contrary, enough credible information was presented to allow the Board to agree to work exclusively with the Club and C&N Sporting Risk over this Bank Holiday weekend in an attempt to finalise the change of control and achieve a positive outcome for Bury FC.
The EFL Board, however, remains firmly of the view that the League cannot be in a position whereby any more of the Club’s 2019/20 fixtures will be suspended due to the integrity of the competition, the impact on other clubs in the League and therefore has stated that matters must be concluded by 5pm on Tuesday 27 August 2019.”
Dale told BBC Radio Manchester he had agreed a deal with analytics company C&N Sporting Risk, led by Henry Newman and Rory Campbell.
In a statement given to PA Media, Newman and Campbell said: “We can confirm that over the past 10 weeks we have been in discussions with Bury FC, the EFL and others with a view to putting forward a proposal to buy the club.
“It is a very complicated scenario and there remain a number of outstanding legal and other issues that have to be addressed.
“Our background is in football and data analytics and it should therefore not be surprising that we are taking a very detailed forensic look at the realities of Bury FC’s finances.
“A club like Bury ought to have a viable long-term future even if the short-term future is clearly very challenging. To that end we have been in discussions with the EFL about an extension so that we can continue to explore the prospects for a purchase.”
Bury North MP James Frith said on Twitter
“There’s still a huge amount to do. The EFL need to extend the deadline then work with the practicalities facing this. Funds, agreement, due diligence and peace of mind are all still to be done. Huge step forward Dale saying he’s sold, in reality its not over line yet.“
Earlier in the day the Football League issued the following statement
“As of 5pm there has been limited progress made either by the current ownership providing the required evidence in regard to outstanding financial information, or through a change of control being achieved with new owners.”
“The EFL will continue to provide all support available and will keep working to find a resolution to the ongoing issues ahead of the Notice of Withdrawal deadline, which remains at 11.59 PM on Friday 23 August.” adding
“If a successful solution is not found ahead of tonight’s deadline, the Club’s share in the EFL will be withdrawn and its membership in the League will come to an end.”