Bury have now had five of their League One matches suspended this season after the English Football League postponed Saturday’s game at Tranmere.

In a statement the EFL maintained its stance that Bury’s owner, Steve Dale, has not provided details of how the club are to pay their debts and fund the season.

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“Further clarity remains outstanding in relation to a number of the club’s financial obligations,” the statement said. “The EFL board continues to be frustrated at the lack of significant progress that has been made by Mr Dale in providing the information required.”

The league said Bury have until Friday to provide all necessary information on “source and sufficiency of funding” for paying £2m debts owed under a company voluntary arrangement and fund the season or the club will be expelled after 125 years of Football League membership.

The EFL added: “The board remains in regular communication with Mr Dale but, if a solution is not found by the deadline, the board will authorise the necessary [EFL] share transfer on behalf of Bury FC which shall be legally binding on all parties and result, regretfully, in the club no longer being a member of the League.”

Dale, who bought the loss-making and heavily indebted club for £1 in December from the property developer Stewart Day, has said he has provided proof of funding but the EFL has remained firm and refused to allow Bury to start the season.

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In addition to league matches against MK Dons, Accrington, Gillingham, Rotherham and Tranmere, the league suspended Bury’s Carabao Cup tie against Sheffield Wednesday, who, the EFL said, have now been awarded a victory.

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The EFL explained that, if Bury are expelled, there would be no record of the club having played any matches this season and League One would be played between 23 clubs. Three rather than four clubs would be relegated and four promoted from League Two, so the division would be restored to 24 clubs next season.

Bury would be too late to join any league this season and would have to apply to the Football Association to rejoin league competition further down the football pyramid from season 2020-21.