Public knowledge of Macclesfield Town's financial woes came in early 2019, when it was revealed that players were threatening to boycott a League Two fixture against Cambridge United after they had not been paid for three months. That initiated a winding up order against the club.
The club was managed by former England and Arsenal manager Sol Campbell at the time. After keeping the club up on the final day of the season, he agreed to leave the club by mutual consent in August 2019, claiming he was owed £180,000.
In October 2019, the players again went unpaid, with a formal investigation launched by the EFL. A strike by first team players jeopardised the club's FA CUP tie against Kingstonian, with loanees and youth team players drafted in for a 4-0 loss. Many Macclesfield fans boycotted the game.
On 14 November 2019, Macclesfield Town was charged with misconduct by the EFL, and referred to a disciplinary panel for failing to pay their players. A fixture against Crewe Alexandra on 7 December was postponed after the club's players went on strike; Macclesfield was docked six points for this infraction. The 21 December tie against Plymouth was postponed for a safety issue.
In May 2020, the club was given a further seven point deduction for failing to pay staff, and failing to fulfil its fixture obligations. While the Silkmen Supporters Trust provided a loan of £10,000 to help towards paying the players wages, further charges of misconduct were brought. A further deduction of two points by an independent panel meant Macclesfield appeared to avoid relegation from League Two, however, an appeal by the EFL resulted in the club dropping down to the National League.
in September, a winding up order issued by the high court pushed the club into liquidation — Macclesfield Town owed HMRC close to £200,000, while eight other creditors were due £592,000. Later that month, the club was suspended by the National League, before a full expulsion in October.
Shortly after, the assets of the club were sold to Macc Football Limited, a company established by local businessman Robert Smethurst. He intended to launch a new club, now called Macclesfield FC, that would enter the 10th tier of the English football pyramid in the 2021/22 season.
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