Bury, one of English football’s oldest clubs, were expelled from the Football League (EFL) on Tuesday after failing to resolve their financial problems or find a new buyer, the EFL said in a statement.
C&N Sporting Risk pulled out of its proposed takeover of the League One (third-tier) side just a few hours before the deadline to meet the league’s requirements.
Bury joined the Football League in 1894, nine years after they were founded, and won the FA Cup in 1900 and 1903. They are the first team to be expelled since Maidstone in 1992.
Multiple media reports suggested at least three late offers had been submitted to buy Bury but the league, which had already suspended five scheduled fixtures for the club this season, decided to end their participation in the league.
Bury’s record 6-0 FA Cup final win over Derby County in 1903 was only equalled this year with Manchester City’s victory over Watford.