7:00am Friday 7th December 2007
By Neil Meldrum
CHERRIES chairman Jeff Mostyn last night moved to reassure fans after internet rumours suggested the ailing club may be about to fall into administration.
In a statement on the club's official website, Mostyn revealed that the Cherries board could be about to seal an investment deal with a series of unknown parties, but admitted that administration was still an "option" for the club.
Mostyn said: "In overall terms, a great deal of progress has been made at the club, but our ability to attract additional investors has, to date, proved to be extremely difficult - especially taking into account our league and cup results.
"This has put immense financial pressure on (co-owner) Steve Sly and myself as we continue to fund the club and do our utmost to satisfy the club's financial commitments to its creditors.
"I was asked at the fans' forum prior to the Oldham game on November 24 if I had considered administration as an option. My answer was 'yes', if we were unable to meet our commitments and I felt administration was in the best interests of the club going forward, that would be a decision the board would have to seriously consider.
"I would like to make it perfectly clear: The financial position at AFCB is no different to the vast majority of Football League clubs, and this has been clearly demonstrated at Luton and Coventry, plus the recent speculation at Southampton. At the end of the day, it all comes down to how much money the owners are prepared to sink into a club with large debts.
"There is, however, some potential good news. We are currently in advanced negotiation with a group of potential investors. During the past two weeks we have met on a number of occasions to discuss various options. Our meetings included a full tour of the stadium and surrounding land.
"I can say without any hesitation, the group were as impressed with the facilities as I was when I first stepped through the front door of the club in October 2006.
"Steve Sly, who conducted last week's meeting, was very confident that the next meeting, scheduled for next week, would result in firm proposals being put forward for consideration.
"While we both remain confident, having been let down on numerous occasions during the past 12 months, we remain cautious but optimistic.
"Whatever the outcome, of any decision made, it will be taken in the best interests of AFCB going forward. We have to get ourselves into a position where we can make positive decisions about our future without constantly looking over our shoulder."
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