Current Bid - 'More Formailised'

Last updated : 30 May 2008 By Bournemouth Co-Ordinator
In a comment from the Administrator, Gerald Krasner has said in the Bournemouth Evening Echo, that the current bid from Jeff Mostyn as: "There's always been a bid of sorts, it's just a matter of refining it. As far as I'm concerned, what's been on the table was more formalised yesterday".

Meanwhile, Derek Timoney is quoted as saying: "The supporters trust (ST) had an emergency meeting on Monday night at 7pm to look at current events. In the afternoon we had an update from Steve Sly as to the financial position for any investor(s) in the club. Firstly, for any prospective purchaser there are the fees for the administrator, which at present are in excess of £500,000, though certain monies will have been used from the sale of Sam Vokes to reduce that, but clearly a substantial amount remains. There is also monies due to football creditors of around £70,000 net, this takes into account what the club owes and what is due from various sources. Jeff Mostyn has £110,000 secured against the South Stand land and a further £103,000 secured in respect of wages paid by Jeff Mostyn, Steve Sly and others. In addition, Jeff has funded the day-to-day running of the club during administration to the sum of £380,000. This totals £593,000. The money put in by Jeff and Steve before this amounts to well over £800,000, which they know is lost. Following this meeting, three members of the trust met with Steve Sly at the ground yesterday and at that meeting Steve confirmed that the consortium had that day put in an official written offer to the administrators. If this offer is accepted then with it goes the responsibility of funding the club through the close season and meeting the FA's conditions re the future viability of the club. This will mean a commitment to fund well over £1,000,000. We were told that season tickets will be launched shortly with prices set. The prospective chief executive has been working on a number of new ideas and is looking at many aspects of the club's commercial and operational procedures and the ST has been promised a meeting with him once the due process is completed. The league's decision on any points penalty may be known within a couple of weeks with a possible and likely 15-point deduction, although we would hope for less. It was made very clear that the ST will play a role in the club going forward and we stressed that open and regular dialogue was both important and necessary".