Source: Bournemouth_Echo
Cherries: Embargo to remain in place
CHAIRMAN Eddie Mitchell has confirmed the news Cherries fans feared the clubs transfer embargo remains in place.
But in a statement issued to the Daily Echo, Mitchell also launched a passionate defence of his embryonic tenure.
Following Tuesdays meeting with the Football League, Mitchell has firmly laid the blame for the ongoing transfer embargo and the clubs off-field problems at the door of Cherries previous owners.
And he insists the clubs new board are working tirelessly to repair the damage we have either inherited or uncovered since taking control.
In a lengthy account of Tuesdays meeting in Preston, part of Mitchells statement read: It was made clear to me in the three hours of talks we had that the leagues position is there to make sure all the teams are competing on a level playing field, and that they are unable to relax the embargo until such time we have honoured all our outstanding creditors.
This is because when AFC Bournemouth came out of administration at the start of last season it was financially at an advantage in the sense that the club shed a large percentage of the debt at the time.
We were also told in a forceful manner that most other clubs have fulfilled their obligations and that AFC Bournemouth should start living within its means and face up to its responsibilities.
This brought us to the question of hasnt AFC Bournemouth been brought into line by way of the 17-point deduction at the start of season 2008/2009 That was the case, but during last season, AFC Bournemouth accumulated another £1million debt by living beyond its means yet again.
It was also confirmed that AFC Bournemouth was in the top six for the highest playing budget last season and the club was mismanaged considerably.
Loyalty to players and staff was not honoured. Two managers came and went and despite agreements, compensation is still outstanding. Tax was not paid to the tune of £400,000, rent on the stadium wasnt paid in fact a great deal of creditors werent paid, so where did the revenue go from last year It appears down the drain.
And if it wasnt for Eddie Howe and his squads heroics, combined with myself, Neill (Blake), Jeff (Mostyn), Steve (Sly) and Adam (Murry) stepping in with a financial lifeline when we did, the club would have taken the same route. So until such time as we can put our house in order, the embargo will remain.
Cherries supporters demonstrated how keen they were to see the ban relaxed or lifted when around 700 fans returned signed copies of the Daily Echos End the Embargo petition earlier this month.
But with the Football Leagues tough stance remaining in place, manager Howe is still unable to bolster his injury-hit squad.
The statement added: It was explained in detail that we are on the highest level of embargo and the next step down would allow us to have loan players.
We need to show constantly improving monthly accounts, meet all football creditors debts and pay our outstanding taxes while meeting our ongoing commitments.
If over a period of some months we can achieve this, then they would consider dropping us down to a lower level of embargo.
If we can then continue to run and meet all other outstanding obligations, the Football League would consider dropping the embargo completely.
The statement also said that, since the new boards arrival, a sum in the region of £150,000 has been paid to HMRC for arrears, a first CVA payment has been paid, all current PAYE/NIC and VAT obligations have been met, all current staff/players wages are up to date, a number of court judgements have been cleared and payment terms with the majority of aged creditors have been agreed, while current creditors have been paid on time.
