Key Points From Press Conference

Quoting Jeff Mostyn: "Cherries entered Administration at 3.30pm yesterday afternoon. We are more concerned about the future than the past. I believe Administration is not the end, but the start of a bright future. I've done everything in my power to stabilise the club and although debts have not risen since I came here, it is difficult to see how the club could have avoided the inevitable".

Quotes from Administrator Gerald Krasner made the following statements: "Jeff Mostyn provided a six figure sum to enable to the club to survive in the short term. Without this investment the club could have already folded. The immediate priority is to stabilise the club. At the moment we have the funds to get us through to early March. I'm optimistic that a rescue package can be put into place, but nothing is ever certain in football. I can confirm there is already currently more than one investor/consortium waiting in the wings that we are talking to. Under law we have eight weeks to put a proposal together for the creditors and hold a meeting in ten weeks in which to have the proposals voted upon. This is maximum timing, but the earlier we can do this the better. The club could be for sale if the right offer comes along. If anybody puts in the right money they'll get a football club free of debt. Potential investors can speak to me on the phone and if they prove they have real money to invest we can start talking. We're looking at a minimum of three million pounds. We can't provide details of ongoing deals and negotiations, but we will be speaking to the press and providing updates throughout this process. The ten points that have been deducted from the team is a minimum. If we carry through a successful administration and CVA it will only be ten points. If this does not happen there is the possibility that the Football League could take off more points".