A 'Difficult' Process!

Last updated : 03 April 2008 By Bournemouth Co-Ordinator
Here's an account of the press conference at Dean Court regarding the recent events regarding the Administration of AFC Bournemouth.

Gerlad Krasner confirmed that there is a break down in the current consortium that were looking to buy the Club with difficulties existing between Jeff Mostyn and Marc Jackson. He wouldn't say what those difficulties were but did say that both would give a different account of events.

As a result of the breakdown, the Consortium is now in breach of two agreements. One relating to funding, and the other relating to the sale of the Club. The deal which was on the table no longer exists.

Of the £350k that was required to keep the Club trading, £300k had been paid by Mostyn, but the remaining £50k would not be paid, leaving the Club in danger of not making it to the end of the season. Although Krasner wouldn't comment, the Swansea City game would not be the last game for AFC Bournemouth, leaving doubt whether the Bristol Rovers game on April 12 would be the final game for the Club.

Krasner revealed that he is now taking advise on potential player sales, even though players cannot be sold outside of the transfer window.

Monday's creditors meeting will still be going ahead as planned where more detail would be given, and a Q&A session held for the creditors. The CVA meeting could be adjourned indefinitely.

On the Mostyn deal ...... Krasner did reveal that Mostyn was given an 11am deadline to keep his deal alive, but having spoken to other parties, he had failed to attract any further funding, even though discussions were on going.

Krasner is now inviting any other interested parties to make a bid for AFC Bournemouth, which will not be subject to confidentiality agreements given the short time scales now involved.

Other options are being considered by the Administrator, including to close the club down. Creditors will learn more on Monday.

Commenting on recent events, Krasner would not be drawn in to calling recent events shambolic, but did describe them as "difficult" and encouraged any interested parties to "get a move on" with any bid.

Eddie Mitchell was asked about, to which Krasner stated that he could not currently take the Club over, given current involvement in Dorchester Town. Krasner has not spoken to Cohen since the opening round of bids were discussed. Krasner did confirm that there are people waiting in the wings, but no discussions had taken place.

Krasner would accept a cheque now if one were presented. Any reasonable offer would be accepted, but nominal £1, £2 bids would be rejected. He would accept £2million, and even offered the Club to Roger Johnson (of BBC South Today) the Club for £1.5million!

On the CVA, Krasner confirmed that under the current laws, shareholders have an economic interest, but cannot block a CVA. Krasner also confirmed that the Club does not have a current up to date list of Shareholders!!
Dean Court