THE appointment of 31-year-old property developer Stewart Day as new chairman of Bury has been given a cautious thumbs up by the chief of the club's supporters association.

As reported in The Bolton News yesterday, previous chairman Brian Fenton said Day was one of four men he spoke with during the takeover negotiations, which concluded last Friday when he and the previous directors stepped down.

The identity of the three other men have not been confirmed, although it is understood that Glenn Thomas, thought to be a former Fulham footballer, is set to be unveiled as Bury’s new chief executive.

Dave Gifford, who is chairman of Forever Bury, held talks with Day and Thomas yesterday and said his initial impressions were positive.

“They are keen to work with Forever Bury and want to sit down to discuss the make-up of the new board and our place on it,” he said.

“We will give them time to get their feet under the table, but they already seem to have some really good ideas for the club.

“They have set out plans for an extensive scouting network of players, and I know they want to improve the training facilities and will be looking to liaise with the local council and schools over the possibility of finding new land.

“I think they appreciate there is a lot to do, and they keen to get under way, but they have a five year plan and have made assurances that they will not risk the financial future of the club.”

Along with the news of Day’s appointment, the club also confirmed on Wednesday night that all loans taken out with the PFA to cover players’ wages had been repaid and the resulting transfer bans imposed by the Football League have been revoked.

Day also revealed debts to the HMRC had been paid off and a winding up order on the club, which had not been made public, had been lifted.

Further details about the Shakers’ young chief were yesterday released on the club’s website, following on from Wednesday’s statement in which he pledged to bring Championship football back to Gigg Lane.

The statement read: “(The chairman) has built up a successful business specialising in the building of student accommodation and development sites based in Lancashire and Yorkshire.

“He is a lifelong football fan, whose passion to rebuild Bury Football Club both on and off the pitch is second to none.”

Details remain sketchy, however, as to his previous businesses, how much he has personally invested in the club and what his motives are for getting involved.