Tuesday 11th March Is D-Day For AFC Bournemouth
The second D-Day will come on April 7th, when a creditors meeting at Dean Court will vote on whether to accept a CVA which would enable the Club to go forward. For that to happen, 75% of the existing creditors would have to vote in favour of the deal to avoid further sanction being imposed by the Football League.
Speaking in the Bournemouth Evening Echo on the likelihood a CVA being agreed, Krasner is quoted as saying: "It depends on the Inland Revenue and how it is treated and it will depend on how many people actually vote. The Inland Revenue, in their own right, do not have a sufficient vote to block the CVA, but because people don't bother to support the CVA or don't vote, that CVA will be at risk. The Inland Revenue has 17 per cent of the vote and they would need 25 per cent to block it. The Inland Revenue are in at 17 per cent of the debt and I believe they will vote against, in accordance with their current policy to go against all CVAs where football clubs are involved. Consequently, we need the other 83 per cent to vote in favour. If they want to save Bournemouth, vote for the CVA and against the people who will vote against it. If it doesn't go through, Bournemouth will suffer. If the CVA fails, the dividend under the CVA will virtually disappear. That's my view".
On the chances of a further sanction being imposed by the Football League, Krasner went on to be quoted saying: "The Football League has sole discretion and having seen what they've done to Leeds, which is now going through arbitration, I think they could possibly do whatever they want and I'm not going to second guess the Football League. I've had discussions with them and told them we're possibly getting offers and we'll look at a CVA".