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Bournemouth bid falls apart
Scotland - 16 April, 2008
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A deal to buy out English Bournemouth has fallen through.
EU UK Ltd. withdrew their proposal, according to administrator Gerald Krasner. They withdrew after missing a Monday deadline, and not being able to follow up on a request for a deposit for a deadline extension.
Krasner said the money-for-extension deal seemed to upset the potential buyers.
Krasner said he will soon meet with another bidder. He originally accepted a bid for a buy back from former chairman Jeff Mostyn. That bid fell through when businessman Marc Jackson, part of the funding group could not deliver money.
Jackson was part of the EU UK bid.
Krasner originally said Mostyn's group won the re-bid, but later recanted and said Jackson's group was the winner. Soon after, Jackson fell out with the group and left.
The club has debts of GBP 4 million. Bournemouth has been in administration since February. But Krasner said Bournemouth may face some sell-offs if a buyer is not located soon.
EU UK Ltd. withdrew their proposal, according to administrator Gerald Krasner. They withdrew after missing a Monday deadline, and not being able to follow up on a request for a deposit for a deadline extension.
Krasner said the money-for-extension deal seemed to upset the potential buyers.
Krasner said he will soon meet with another bidder. He originally accepted a bid for a buy back from former chairman Jeff Mostyn. That bid fell through when businessman Marc Jackson, part of the funding group could not deliver money.
Jackson was part of the EU UK bid.
Krasner originally said Mostyn's group won the re-bid, but later recanted and said Jackson's group was the winner. Soon after, Jackson fell out with the group and left.
The club has debts of GBP 4 million. Bournemouth has been in administration since February. But Krasner said Bournemouth may face some sell-offs if a buyer is not located soon.
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