A BUYER has finally been found for Bury FC and Gigg Lane, say administrators.

Months of speculation over the future of the ground and the 136-year-old club appear to have come to an end.

Administrator Steven Wiseglass, of Inquesta Corporate Recovery & Insolvency, has been overseeing the sale of the club's asset and historic 12,000 capacity ground since last December.

Last May he announced that the stadium was being put up for sale.

And today he said heads of terms had been agreed with an unnamed party for the purchase of the Gigg Lane ground, along with "the rights, title and interest in and to other assets, namely club memorabilia, goodwill and intellectual property, including the Bury FC name".

Mr Wiseglass added: "“We have accepted an offer to purchase the Gigg Lane stadium and other assets, and have agreed heads of terms with the interested party.

“We remain hopeful that the deal will be completed in a timely fashion and will be a major step towards securing the future of football at Gigg Lane.

“My hope has always been that Bury FC could be rescued and seek readmission to the football pyramid system, and this now seems a step closer to becoming a reality.

“Until the sale is completed, we are unable to make any further comment.”

He has previously confirmed that offers were made from a number of interested parties.

The club, whose last owner was businessman Steve Dale, was expelled from the Football League in August 2019. This followed a number of attempts at agreeing a company voluntary agreement to stave off Bury's FC extinction.