Sky Sports News' chief reporter Bryan Swanson assesses the fallout from Bury's expulsion from the EFL.
How is the EFL feeling today?
Senior figures say they understand the "raw emotion" of fans. Nobody wanted to reach this sad, sorry state of affairs. They strongly feel no more could have been done.
Debbie Jevans, EFL executive chair, told Sky Sports News: "I am absolutely devastated. I watched the scenes from the ground and one could sit there and burst into tears because it's raw emotion."
The EFL have made no apology to Bury but stress they sympathise with everybody concerned.
Is this an embarrassment?
Bury's plight will have led to plenty of uncomfortable conversations within the EFL and its clubs. They called it "one of the darkest days in recent history" and said it had "worked determinedly and tirelessly" to avoid expulsion. But there is understandable anger from supporters. What more could have been done?
Jevans said: "I know we did everything that we could. Some may always say you could have done more but I know, if I look myself in the mirror, we did everything that we could. We had to make a decision.
"Absolutely we have to sit back and [review] lessons learnt. We need to go to the clubs and discuss that. When I was watching last night, it reminded me of what happened at Wimbledon. I am in no way trying to say what has happened isn't serious, isn't devastating, of course it is."
The EFL is reviewing its Owners' and Directors' Test as part of a wider review into its governance. Jevans, who joined the EFL board in 2014, is leading the organisation until a new chief executive is appointed.
Has the EFL's interest in Bury ended?
Their statement late on Tuesday night stated, "Recent events… will require further investigation." What specifically did that mean? The EFL has yet to provide further details.
Are HMRC investigating developments? They will not comment due to strict rules around taxpayer confidentiality.
Jevans said: "Somebody told me that HMRC have said insolvencies at football clubs are the lowest they have been in the modern era, which is a positive sign.
"Clubs need to run in a sustainable fashion. If you have £10 coming in, and £20 going out, that clearly is not a sustainable way to run a football club."
It is a harsh reality that Bury has already been removed from the League One standings on the EFL's website, which now lists the remaining 23 clubs.
Does the club still exist?
The Football Association initially said, "If the club re-forms we look forward to them applying…" which suggested the club no longer existed as an entity. But the FA moved to clarify their remarks.
"The club is still there." said Jevans. It just cannot yet compete in any competition.
It is important to highlight that, for now, the company remains in business. Staff still need to be paid and, with no ticket revenue, there will be considerable financial pressure to maintain the running costs of Gigg Lane.
Could Bury play again?
Yes, but nothing can happen for the remainder of the football season. They are no longer able to play in this season's FA Cup.
Bury can apply to the Football Association to be permitted to a league further down the football pyramid from next season (2020/21). An FA board will decide which league.
Who else will look at Bury's expulsion?
Parliament could get involved. Damian Collins MP, Chair of the Digital, Culture, Media and Sport (DCMS) select committee has claimed the EFL's process "failed fans" of Bury and, potentially, Bolton.
Collins posted on Twitter: "The process run by @efl has failed fans of @buryfcofficial & may do the same to @OfficialBWFC. Next week @CommonsCMS will discuss how we can review the role of the football authorities in this crisis & what new powers are needed to act against bad owners and directors of clubs."