Press Conferece Details
Season Tickets went on sale last week and all the Season Ticket money is coming directly to my bank account. We've already taken £20,000 which is now in a bank solely under my control and will not be released to whoever buys the club until such time as the Football League share has been successfully transferred. Although it doesn't say on the application form, the bank account quoted is my account and I have the names and addresses of everyone who has put money in.
Up to this moment we have been progressing with legal contracts. There are lots of issues that have to be dealt with and also commercial contracts some of which I as Administrator have told individuals will not be going forward and others which may well go forward.
I've had some funding from this consortium going forward and we've been discussing today the ongoing funding for the end of June and early July. I believe I'm due to get some money this week and hopefully the balance of it next week at which point we will be a lot further forward in submitting the sixteen point plan needed by the Football League to get the share back.
Everything rests on what is known as the Football League share. Having discussed this with the Football League authorities this is a moving target and there are no guarantees. The precedent with Leeds was that they got a fifteen point penalty for not having a CVA. It has been made very plain to me that the precedent is a list of terms and conditions that the Football League will put out together with any points penalty which the new company will either accept or reject.
I believe that subject to the sixteen point being accepted by the Football League that Bournemouth will start next season with a fifteen point penalty. There will be a number of conditions attached to that in respect of matters.
If everything works out there will be no need to sell any further players, but I'll never say never. We've moved forward to a position where I've said to Jeff I'm more than happy to negotiate, in advance, the players' contracts. It's a necessary thing as the players want to know where they are for the beginning of next season assuming everything goes ok. I keep saying that as you never know what is going to happen in either insolvency or football.
The full transcript is available on the Clubs Official Web Site.