Bury FC fans woke up to the news they had been dreading on Tuesday, after their beloved football club was expelled from the English Football League, the news confirmed in a statement from the EFL Board that confirmed that the club's 125 year membership of the English Football League had been withdrawn.

The club's expulsion was due to the fact that despite repeated requests, the club's owner Steve Dale had been unable to provide the EFL with evidence as to how the club would meet its financial commitments moving forward.

So with no evidence forthcoming, securing new ownership of the club was the only avenue available and as such Mr Dale was given the deadline of 5pm on Tuesday 27th August to finalise a sale to interested buyers C&N Sporting Risk Limited.

But by late afternoon on the 27th following a period of due diligence by C&N Sporting Risk Limited, they opted not to pursue their interest and the takeover deal collapsed and with it the last chance to save Bury Football Club.

So what next for Bury FC?

Though there are undoubted financial hurdles to over-come, if there a model, similar to the route taken by AFC Wimbledon, fans could see this proud north-west club survive.

Of course this would be in a different form, but at least it's a return to playing football lower down the football pyramid, with the long-term objective of working through the leagues and aiming for a return to the EFL.

The task ahead will not be easy and it will not happen overnight, but if as many as possible of the 189,000 people that make up the Metropolitan Borough of Bury can get behind the community effort, that will be needed, we could see a resurrection of the club.

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In the immediate aftermath of the Shakers' expulsion from the league and the ongoing crisis engulfing neighbours Bolton Wanderers, fans across the country particularly in the lower league will be wondering how close their club is to financial meltdown in their pursuit of promotion.

At all levels of the game, the onus is on the law-makers, the leagues and the owners of clubs  to operate within their means to ensure that a league system that has set the standard for others around the world to follow, is doing so for many years to come.