Source: Bournemouth_Echo
Cherries: Mitchell wants to take up share option
CHAIRMAN Eddie Mitchell has confirmed his family is planning to take up an option to gain a majority shareholding in Cherries.[LNB] Mitchell and wife Brenda both each currently own 25 per cent of the shares, with vice-chairman Jeff Mostyn having 44 per cent and director Steve Sly the remaining six.[LNB] However, when a deal was struck to buy Cherries as part of the Murry Group in June 2009, Eddie Mitchell negotiated the option with Mostyn.[LNB] He said: There is an option in place that I can buy one of Jeff's shares for a pound any time until 2014. I intend to take up the extra share but see no real need to at the moment. The board are working together.[LNB] When contacted by the Daily Echo, Mostyn confirmed the agreement was in place.[LNB] Mitchell was happy to field questions on the club's ownership put by the Daily Echo in the wake of a recent documentary. Screened last month, Channel 4's Dispatches programme How To Buy A Football Club' raised serious issues on the subject.[LNB] Thai businessman Joe Sim, working with former England captain Bryan Robson, was filmed saying he could buy more than one club in the Football League, a contravention of FA rules.[LNB] Mitchell, who said he had not watched the programme, told the Daily Echo: It is big business the further up the chain you go. You've only got to look at the figures that are bandied about. It is big money and people want it.[LNB] I don't think it is good for the game to have people involved behind the scenes who are only in it for the money. The way forward is to run clubs as businesses and, if you fail, then you fail.[LNB] There are a few sugar daddies out there but I think the time will come when clubs will have to be more accountable. We're all for that. There is no sugar daddy behind this club but it is run efficiently, above board and is pretty secure.[LNB] Mitchell also confirmed Black Label Events, a company that runs the catering and conferencing at the Seward Stadium, had the same shareholding as the football club.[LNB] He added: It is a company which serves the club and any profits from Black Label go into the club, nowhere else.[LNB] Mitchell also said a recently-acquired restaurant by one of his other companies in Poole was nothing to do with the club.[LNB] He said Mezza Luna, which is due to undergo a name change to Boat Shed Seven, sometimes uses club staff and pays a rate for them. Other than that, it is not related at all.[LNB]
