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Friday, 31 May, 2002, 13:11 GMT 14:11 UK
Shakers' fans take control
Bury fans' fund-raising efforts paid dividends
Bury fans' fund-raising efforst paid off
Bury have reached an agreement that will see them move out of administration and transfer control of the club to a fans' trust group.

The Shakers have signed a four-year Creditors Voluntary Arrangement (CVA) which will see the cash-strapped club pay 10p in the pound of their debts to unsecured creditors.

The agreement enables the transfer of the club to the 'Save Our Shakers Trust', a fans group originally set up to raise money to see Bury through to the end of last season.

Matt Dunham, of the club's joint administrators RSM Robson Rhodes, said: "This represents a potential way forward for clubs to deal with current cashflow crises, the failure of ITV Digital and the general financial uncertainty that many face.


Without the hard work of the supporters and their fund-raising efforts it is probable that the club would by now be closed
Joint administrator Matt Dunham

"By selling the club to the supporters it enables it to become an integral part of the community and allows supporters to direct the future of the club.

"This solution could well provide the basis for other clubs to deal with the difficulties they are currently facing.

"However, without the hard work of the supporters and their fund-raising efforts the sale could not have been achieved and it is probable that the club would by now be closed.

"It is a tremendous result."

The fans group will now control all of the day-to-day running of Bury as they prepare for life in Division Three.

The troubled Shakers were placed into administration some two-and-half months ago after creditors demanded payment on a 1m mortgage.

The club were originally given just two weeks in which to find a buyer.

But the High Court in Liverpool extended the administration period until the end of this month after judging that sufficient funds were in place to keep the set-up going until that deadline.

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