[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 13 December 2005, 15:44 GMT
Club completes stadium sell-off
Dean Court football stadium
Dean Court football stadium will now be leased by the club
The sale of AFC Bournemouth's stadium has been formally completed.

A property company bought the Dean Court ground for 3.5m and will now lease it back to the football club for about 300,000 a year.

The League One club owes almost 7m and sold off its stadium to avoid going into receivership.

Bournemouth chairman Peter Phillips said that now the financial pressure had finally eased the club "could begin to plan ahead".

We haven't gone from a skint club to a rich club, we're still a skint club but we just have fewer creditors
Chairman Peter Phillips

The Cherries hope that a supporters' pension scheme set up by Dave Stone, a director of both the club and the supporters' trust, could buy back the stadium from the new owner in the future.

Mr Phillips said: "We haven't gone from a skint club to a rich club, we're still a skint club but we just have fewer creditors.

"I'm just pleased it's all done and dusted - it's been a huge amount of work."

The team currently lies in mid-table in League One and has average attendances of more than 6,000 for home games.




SEE ALSO:
Fans' stadium buyout pushed aside
09 Nov 05 |  Business
Fans to decide on Cherries future
28 Oct 05 |  Bournemouth


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific