Bury St Edmunds: Bury Town are not in danger of folding, says chairman Russell Ward
17:30 07 January 2014
Bury Town are NOT in danger of folding.
Chairman Russell Ward today published a statement on the Suffolk club’s web-site, admitting that the Blues were suffering from a “tight cash-flow situation at the moment,” and that these were “hard times” for the Ryman League Premier Division outfit.
The departures of three high-profile players, over the last few weeks – Shane Tolley, David Bridges and Ryan Semple – have highlighted the financial difficulties currently experienced at Ram Meadow, in particular the struggle to pay players’ wages in full.
However, Ward remains upbeat about the long-term future of the Blues – Bury Town are one of the oldest clubs in the country – and confident that no more players will be leaving.
“We could not carry on as we were, just trying to deal with it,” explained Ward. “We have had to take stock, and be open and honest.
“I want to be pro-active, rather than reactive, and we are certainly not about to fold, as a club.
“Crowds have been down, and the early exit from the FA Cup did not help. We have also had to channel money into the new ground project, a five-figure sum, so all these pressures have come together.
“It’s a case of bringing the club’s finances back into line, because we want to be ahead of the game.
“The fact that a few players have left – though none of these were asked to leave – has meant that we now have a manageable situation, in terms of paying wages, so I don’t envisage any more players leaving.
“Hopefully, this squad will now remain intact until the end of the season,” added Ward.
Managed by Richard Wilkins since 2000, Bury have become an established club at Level Seven in recent seasons and, despite players being asked to take a pay-cut at the end of November, the team have won five and drawn the other two of their last seven fixtures.
Bury are currently eighth in the table, and are at home to Thamesmead Town on Saturday.
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