New law will not "reverse what happened" to Bury FC five years ago but it will address the "vast majority of concerns" football fans should have, a Shakers supporters society has said.

The government introduced a "strengthened" Football Governance Bill in the House of Lords yesterday, Thursday, to address significant issues facing financial sustainability of elite men’s football in England.

Bury FC is among a number of clubs that has faced ownership difficulties with the two-time FA Cup champions expelled from the Football League in 2019.

The Bill will establish an independent football regulator and a new set of rules to protect clubs, empower fans and keep clubs at the "heart of their communities".

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The regulator, will tackle rogue owners and directors, implement a club licensing regime to help ensure a more consistent approach in how clubs are run, monitor club finances and improve fan engagement throughout the football pyramid from the Premier League to the National League.

It will also have a "backstop" measure to mediate a fair financial distribution down the Leagues should the Premier League and the EFL (English Football League) not be able to come to an agreement.

Some other major changes to the previous draft of the Football Governance Bill are that the regulator will now require clubs to provide effective engagement with their supporters on changes to ticket prices, and any proposals to relocate their home ground.

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There will also be a "clear commitment to do more to improve equality, diversity and inclusion within the game".

The regulator will have the power to compel clubs to democratically select the fan representatives the club must engage with.

This will be instead of clubs making a "unilateral decision", and the regulator will no longer be required to consider government foreign and trade policy when approving club takeovers.

The new legislation "echoes the sentiment from fans on the need for systemic change in football", which was set out in Dame Tracey Crouch’s Fan Led Review of Football.

Chair of the Football Supporters Society of Bury, Phil Young, said: “Football supporters in Bury need no reminders of the damage rogue owners playing roulette with football clubs can cause.

"We’ve worked with government and across parties, from Tracey Crouch to Lisa Nandy, to represent Bury and provide positive, proactive advice on how to prevent similar problems from happening in future.

"I managed to get this point across to Premier League CEO, Richard Masters, this week who seemed to accept the bill would make its way into legislation despite resistance from many Premier League clubs.

"Without Bury’s very public failure, and the shock it caused, I doubt this bill would have seen the light of day.

"No legislation is perfect but we think the bill addresses the vast majority of concerns football supporters should have.

"It won’t reverse what happened in 2019 but we should take some pride in that our plight has been used to make football better for all.”

Bury North MP James Frith, who has recently been given a position on the Culture, Media, and Sport Select Committee, backs the incoming law.

He said: “We know all too well here in Bury the cost of financial mismanagement of football clubs.

“The ejection of Bury FC from the football league was a no-fan-fault eviction and this must not be allowed to happen anywhere ever again.

“This new and improved legislation will tackle this, putting fans back at the heart of the game, taking on rogue owners and helping to put clubs across the country on a sound financial footing.”

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Bury-born Manchester United legend and football pundit Gary Neville, who co-owns Salford City FC, welcomes the legislation too.

He said: “Football is undoubtedly one of our country’s greatest assets, but now more than ever we need an independent regulator to act as a guardian for our game, to make sure that clubs and their fans are protected for the long term.

“I’ve had the honour of experiencing football as a fan, player, pundit and now as a club co-owner, but I know my role is to act as a temporary custodian of an institution that belongs to its fans and community which will last forever.

“Football is too important in this country to be left solely in the hands of individual owners to design its future.

“We've seen inequality across the game grow, but now independent regulation can act as a catalyst to create a thriving and sustainable game for future generations.”