Boss Preece 'gutted'

The Shakers are looking to reduce the club's expenditure and insist releasing their manager was the only option.

Preece said: "I think it was always a possibility over the past few days the way things were going so it wasn't a complete shock.

"But I've lost my job and when it actually happens it is a shock to the system. I'm absolutely gutted.

"But I'll be looking to get back into the game and the sooner the better.

"It's been a magnificent experience for me. I've had four years' valuable experience that will hold me in good stead for the future. I don't think I could've got that at any other club."

Bury director Roger Barlow insists Preece's dismissal had nothing to do with results on the pitch.

The Shakers are mid-table in Division Three but falling at the first hurdle in the FA Cup at home to Rochdale before exiting the LDV Vans Trophy at the hands of Scunthorpe had a telling effect on the club's money problems.

Barlow said: "We've been looking at the situation in terms of the club's finances for some time and this was our only option.

"Being knocked out of two cups made a huge difference because the FA Cup is the most obvious source of generating revenue but obviously this isn't possible now.

"Of course Andy isn't happy with the situation but nobody is. But as I have already said, it was our only option. We've been fair and talked it through with him and his representatives and reached an agreement. So in that sense it is by mutual consent.

"At the end of the day the financial savings will be significant. Nobody else's job at the club is under threat because nobody falls into the same category as Andy.

"We are looking a long way ahead for the benefit of the club. But in the short-term Graham Barrow will be in charge of the team and we are hoping that this will give us the opportunity to move forward and decide what to do in the best interests of the club."