NORWEGIAN tycoon Atle Brynestad will NOT be pursuing a takeover of Bury Football Club.

The Bury Times can exclusively reveal that after his flying visit to Gigg Lane last Saturday with family and associates the multi-millionaire has decided not to make a bid for the Shakers.

Sources close to Mr Brynestad told the Bury Times yesterday that although he was impressed with the infrastructure at the club, he felt his plan - to swap existing Shakers players for Scandinavian footballers - would not work.

Whether or not a lacklustre display that earned the Gigg Lane men a 1-1 draw against non-league Northwich Victoria in the FA Cup led him to that conclusion only he will know.

But one thing's for certain, Brynestad's decision leaves the way open for former Chesterfield chairman Norton Lea to acquire Hugh Eaves' majority shareholding - and sooner rather than later.

Mr Lea could be as little as fourteen days away from taking over the club.

A deal - which will effectively save the club from going under - can be done and dusted as soon as Mr Lea gets permission from the Football League to buy the Shakers.

As it stands now he still currently owns Chesterfield's Recreation Ground stadium and under Football League rules is not allowed to have interests in two teams.

His Saltergate ties, however, should be severed in two weeks time leaving him a clear run to purchase Bury.

The move couldn't come at a better time for the Shaker as chairman Terry Robinson has been fighting manfully to keep the wolves from the door (see article above).

There has been a distinct lack of interest from potential buyers and the news that Mr Lea could be so close to wrapping up a deal will come as a godsend to all at the club.

Mr Robinson is privately delighted that the end is now in sight but won't take anything for granted until the deal is finally done.

"My job is to keep the club running until a takeover and apart from that I cannot say too much," he said.

"Norton Lea has made a bid which has been accepted but Football League rules are causing the bidder problems. That should be sorted out in a couple of weeks.

"The Norwegian party watched the game on Saturday and I gave them the same facts and figures that I gave to Mr Lea.

"They haven't been back in touch but that doesn't mean anything because if they make a bid it will be to the creditors in London and not to me."

It appears that isn't likely to happen now and hopes are high that a deal with Mr Lea goes through as soon as possible as the club are losing money every week.

Mr Robinson said the situation is so serious that by Christmas the club would be struggling to pay the wages of players and staff.