Takeover Collapses!

Last updated : 14 April 2008 By Bournemouth Co-Ordinator
It has just been announced that the proposed take over by EU UK Ltd has collapsed. In a brief statement issued by Joint Administrator, Gerald Krasner states on BBC Radio Solent: "The bidder was due to lodge the money by 1700 BST today [Monday] which they haven't. Over the weekend they asked for an extension - I said if they lodged the money even if it was to their order, and released me enough to do some funding, they could have the extension until 22 April. They seemed to be upset at this and have withdrawn their offer. I am now talking to one and a half people - I know what that means! - about putting in a bid and I'll be seeing part of them on Tuesday. If I get nowhere this week I will seriously review player sales. If there's no bid on the horizon, the club should start worrying about folding at the end of this week".

Players may now have to be sold, although another bidder is said to be ready to hold talks on Tuesday (15th April).

EU UK Ltd, John Frost, is quoted in the Bournemouth Evening Echo as saying: "We're gutted. We felt we had been straight and up front and it wasn't unreasonable to ask for that extension for due diligence. When it came to doing the final thing, we couldn't make that decision today and it's a bit sad".