15 Apr 2008Bournemouth takeover falls through

Football Clubs News | Football Finance News

The proposed takeover of League One Bournemouth has fallen through, according to the club's administrator.

EU UK Ltd was the preferred bidder but the consortium has since withdrawn its offer which was due to be completed on Monday (April 14th).

It is thought that the problems centre on the fact that administrator Gerald Krasner asked for funds to be deposited so that an extension to the deadline could be introduced.

"The bidder was due to lodge the money by 17:00 BST… [Monday] which they haven't," Mr Krasner told BBC Radio Solent.

"Over the weekend they asked for an extension - I said if they lodged the money even if it was to their order, and released me enough to do some funding, they could have the extension until 22 April.

"They seemed to be upset at this and have withdrawn their offer. I am now talking to one and a half people - I know what that means! - about putting in a bid and I'll be seeing part of them on Tuesday," he added.

Mr Krasner said that if a sale cannot be agreed this week, he would "seriously consider" reviewing player sales and said that if no other sales are on the horizon "the club should start worrying about folding at the end of this week".

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