AN investor at Ilkeston Town Football Club has revealed he has been in talks with Steve Dale to buy Bury FC.

However, in an address to the Derbyshire club’s supporters, David Hilton has said he “cannot proceed” with a deal for the Shakers, who entered administration last month.

Hilton, who has put funds into the Northern Premier League South East Division club, is a director of Nottinghamshire firm Maxwell Cohen.

He said: “I would like to offer clarity on a matter that has the potential to cause a little uncertainty or unrest.

“After receiving many messages and emails recently regarding Bury Football Club, I can confirm that I have participated in discussions over recent weeks about potentially purchasing the club.

 “Whilst most negotiations have been extremely positive, I have failed to reach an agreement with Mr Dale regarding his shares and at present cannot proceed.

 “My only objective is to revive Bury Football Club and create a self-sustainable model moving forward, eradicating the club's debt as part of the process.

“A very similar model to the one that was insisted upon before offering investment at Ilkeston Town Football Club.”

The Shakers have been in both financial and football limbo since being expelled from the Football League in August 2019.

Dale placed the club into administration last month with the club’s affairs being handled by Steven Wiseglass, a director at Inquesta Corporate Recovery & Insolvency, who has been appointed administrator.

Wiseglass was previously responsible for the club’s Company Voluntary Agreement, a move by Dale to reduce the club’s debts which defaulted.

Dale said the administration decision was taken “with a view to re-entering the football pyramid next season”.

Hilton assured Ilkeston supporters that his interest in the Shakers had not diverted his attentions away from the New Manor Ground.

His statement added: “Despite all other business activities and a global pandemic, nothing promised has been nor will be sacrificed at Ilkeston.

“The funds originally allocated have not only been honoured but exceeded and further investment will continue throughout the summer in order to secure the club's future and competitiveness at a much higher level.

“Over the last fourteen months I have watched Ilkeston Town rebuild relationships throughout the whole community and it has become a big part of mine and my children’s lives, these relationships will continue to thrive forever, of that I am certain.”