Bury placed under transfer embargo over loan from PFA

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Bury have announced that they have been placed under a transfer embargo by the Football League.

The struggling Shakers are currently prevented from making any new signings until they have fully repaid a short-term loan provided by the Professional Footballers' Association.

Bury were forced to approach the PFA after experiencing "cash flow issues", but they hope to have paid off the laon by mid-January.

A statement on the club's website read: "The chairman and directors have been working tirelessly to bring in new investment in to the club having financed the day to day running of the club over a number of years.

"We are like a large number of other football clubs experiencing cash flow issues, and to that end the club have negotiated with the PFA a temporary short term loan which is to be repaid in mid-January 2013.

"Until the loan has been repaid the club has been imposed with an embargo in registering new players. As we speak we cannot register any new players until the 1st January 2013 under league rules.

"The embargo will extend that block on signing new players until this loan is fully repaid to the PFA. The board would like to assure all supporters that this is only a temporary issue."