Bournemouth takeover confirmed

Bournemouth, the club that pioneered ownership by the fans, will today be taken over by a consortium led by two local businessmen.

Sad though it is in some respects to see Bournemouth’s experiment with co-operative ownership by the Fans Community Mutual come to an end, the club has debts estimated at more than £3.5m and was facing the very real threat of going out of business.

The new owners, Jeff Mostyn and Steve Sly, have invested an initial £750,000 into the Cherries and hope both to attract more investment and improve the way that the club is run.

They received overwhelming support at the recent EGM, including from the Community Mutual which will continue to have a strong presence on the Board. According to a poll on the fans website rednblack, however, the majority preferred a bid from another local businessman, Philip Oram.

But Mostyn and Sly it is. And, while it’s never possible to predict how effective new owners will be, at least Mostyn seems to be realistic.

“It was all very surreal, in fact I spoke to Steve [Sly] this morning and said that I had had a dream last night that I had bought a football club. But I said that nobody in their right mind would do that so I think it must have been a dream. I think the dream has now turned into a nightmare!”

The team did its bit on Saturday with a 1-0 win over in form Millwall, edging them away from the prospect of a relegation into League Two that would, of course, be financially disastrous.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: