Bury FC have officially been expelled from the English Football League.
The 134-year-old club were unable to find new buyers ahead of the 5pm deadline today.
There was hope that Bury would be sold by owner Steve Dale to C&N Sporting Risk, but the deal fell through at the last minute.
The EFL wrote in a statement: "Despite repeated requests to owner Mr Dale, the necessary evidence in respect of how the club would meet its financial commitments has simply not been provided."
It is the first time a team has been expelled from the Football League since 1992, when Aldershot were banished due to serious financial issues.
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Debbie Jevans, EFL Executive Chair, said: “Today is undoubtedly one of the darkest days in the League’s recent history...it is with a heavy heart that this situation has been forced upon us...we simply cannot allow this unacceptable situation to continue."
You can view the EFL's full statement on their decision HERE.
Bury have been unable to play a single League One game this season after receiving a 12-point deduction for their financial violations.
League One will now compromise of 23 teams for the remainder of the 2019/29 season, with the relegation places in the division reduced to three.
Bolton Wanderers have been given 14 days to meet all their outstanding requirements of the League's insolvency policy.
If they are not met, their EFL membership will be revoked as well.
However, the process of liquidation could begin before that deadline. A truly horrible day for English football.News Now - Sport News