When A Blue Print Becomes A Red Herring

Last updated : 01 April 2008 By Bournemouth Co-Ordinator
A couple of weeks ago, it was announced that Mostyn and Sly were heading a consortium to take AFC Bournemouth out of Adminsitration. Part of the consortium was a Marc Jackson, who was boasting of a 'blue print' for AFC Bournemouth.

It would appear that this so-called 'blue print' was nothing more than a red herring, and the consortium is now in disarray.

In an interview with the Bournemouth Evening Echo, Jeff Mostyn is quoted as saying: "I can confirm that the proposed consortium, including Marc Jackson, has broken down for contractual reasons. A pre-requisite of Gerald Krasner accepting an offer was threefold - a fully signed confidentiality agreement, supplying a proof of funds and for me to continue to fund the administration, thereby allowing the club to continue trading. We fulfilled all the requirements of placing a bid to Gerald Krasner, which was subsequently accepted, subject to contract. While we are all certain that Marc Jackson had the best intentions when he set out his plans for the future of the club and also provided by way of a solicitor's letter an acceptable proof of funding, this letter was not only acceptable to Steve and myself but, of more importance, it was accepted by Gerald Krasner as being bona fide. Regrettably, like many others before him, and as Gerald Krasner said at his press conference, everyone wants to buy a football club but it is handing over the cheque that is the acid test and, in this case, the funds have not been forthcoming. With the proposed creditors' meeting due on April 7, this has left a very short time frame with which to fill the financial void left by the lack of promised funding".

In a statement released by Marc Jackson, that reads: "There was a contractual breakdown, however, conditions critical to the transfer of the funds were not met by Jeff. That's what happened. The plans I have for this football club are unbelievable and I did very much try to supply something which is viable for the long-term future of the club. However, funding conditions have to be met before funding comes into any deal and contractual agreements have to be agreed. If they are not satisfied then funding isn't released. Our consortium has broken down but that doesn't mean I've walked away".