New bids tabled for Bournemouth

Bournemouth's future looks a little brighter after two new bids to buy the cash-strapped club were tabled minutes before a creditors' meeting on Monday.

The League One outfit had faced possible liquidation after a consortium led by chairman Jeff Mostyn broke down.

But Mostyn told BBC Radio Solent: "There are now two firm bids and a possible third. My future will be decided in the next 24 hours."

The investment should see the Cherries through until the end of the season.

Administrator Gerald Krasner is expected to make a decision by Tuesday lunchtime and said a resolution would mean Cherries boss Kevin Bond will not have to sell any players.

Mostyn added: "That's great news, especially for fans of striker Sam Vokes, who last week we thought might have to be sold."

606: DEBATE
"I guess we find out Wednesday who the winning bidder (if it's accepted) is"
Archergooner

The south coast club have been in administration since early February - a move which cost them a mandatory 10-point deduction under Football League rules.

Krasner had previously agreed in principle to sell the club to Mostyn's consortium, which included himself, vice-chairman Steve Sly and local businessman Marc Jackson, by way of a Company Voluntary Agreement (CVA) which was due to be voted on at Monday's creditors' meeting.

However, Jackson left the group last week because of "contractual issues" and the bid was withdrawn - allowing Krasner to reopen the bidding to other interested parties.

In any event, the CVA was defeated at Monday's meeting as HM Revenue & Customs voted against the deal - leaving Krasner, as administrator, free to sell the club.

Both of the new bidders are to provide a deposit of £100,000 to keep the club running for the rest of the season, with the failed bidder receiving their money back.

Krasner hopes to announce the identity of the successful bidder by Wednesday.

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