Football could be set to return to Gigg Lane after the sale of Bury FC’s stadium was completed.
The ground along with other assets, including club memorabilia, goodwill and intellectual property as well as the Bury FC name have been acquired by the newly-formed Gigg Lane Stadium Ltd.
The firm is a company limited by guarantee whose members are the Gigg Lane Propco and Bury Football Club Supporters Society.
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Steven Wiseglass, a director of Inquesta Corporate Recovery & Insolvency, said: "We are delighted that this transaction has been successfully completed.
"It is a fantastic outcome for the fans, the club and the whole town, as it will hopefully bring football back to Gigg Lane. My hope all along has always been that Bury FC could be rescued.
"Bury is blessed with a passionate and dedicated group of supporters and we wish them well for the future."
It was announced in May 2021 that the 12,000-capacity stadium was being put up for sale.
Gigg Lane is one of the world’s oldest professional football stadiums and has been home to Bury FC since the club was founded in 1885.
National chartered surveying firm Fleurets, which specialises in the leisure property sector, was appointed as the agent to actively market the stadium for sale and seek offers. Bids were received a number from parties in the UK and overseas.
Mr Wiseglass said The Bury Football Club Company Ltd remains in administration and that Inquesta is continuing with investigations into the company.
Peter Scholes of Fleurets said: "Fleurets is delighted to have been involved in the sale of such an iconic and important property.
"It was no surprise the sales process saw strong competition from a range of parties and we wish the purchaser all the very best in bringing football back to Gigg Lane."
Richard Wolff, James Wynne and Oliver Moore from law firm Pannone Corporate advised Inquesta.
Mr Wolff said: "[The] announcement is not only a positive result for the parties involved, but also for football, Bury and its local community.
"As a firm, we’ve been able to bring together our expertise across restructuring and real estate to support the process over the past few months and achieve the best possible outcome for stakeholders."
Mr Wiseglass added: "I am grateful to Fleurets for their expertise and assistance with the property side of the transaction, to JPS Chartered Surveyors for their efficient support in the management of the property and assets, and to Pannone Corporate for their legal support in helping to bring the matter to a successful conclusion."
