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Cherries: Unnamed director provides 'six-figure-plus' cash boost
Published : 26 May 2010 07:00:00
CHAIRMAN Eddie Mitchell is hoping a welcome injection of funds will help Cherries through the barren summer period. Mitchell has announced that the club has received a significant cash boost after a director made a financial commitment by way of a loan. And although Mitchell has declined to reveal the identity of the director concerned, he confirmed the amount was more than six figures. Mitchell gained a controlling interest in Cherries when the Murry Group took ownership of the club 12 months ago. His fellow directors are Neill Blake, Jeff Mostyn, Steve Sly and Adam Murry. Although not confirmed, it is believed Mitchell may have stumped up around £400,000 to pay off the tax man earlier this year after HMRC had served a winding-up petition on the club. Mitchell, who said the unnamed director's new loan would not affect the existing shareholding, told the Daily Echo: It is a substantial sum and will help us bridge the shortfall in the summer. It just shows how united the board is. I think it's the right thing to let people know there is money coming into the club through the board but I don't think it is prudent to name names. To a degree, all money that is put into the club is a loan but whether anybody will get it back is another thing. Our first priority is to keep the club going. It gives me a lot of confidence that people can see the work that is being put in and are prepared to invest while I'm steering the ship. It also sends out the right message that we're in this to succeed and nobody is shirking their responsibility. Since taking the reins, Mitchell has seen Cherries go from strength to strength on the pitch and has also worked tirelessly on trying to stabilise the club's financial situation. And with Cherries having locked horns with Premier League newcomers Blackpool as recently as 2007, Mitchell is urging fans to think positively. When we make £90m like Blackpool, we might get a little bit back! said Mitchell. It is great to see them in that position. It is a dream but, sometimes, dreams come true. It would be foolish of me to say it is going to happen to us but it is always a possibility. It is feasible and would probably be easier than winning the lottery because the odds are better. Blackpool only averaged around 8,500 last season so it shows it can be done. We may be able to raise some money in the long run to take us further. Who knows what the future holds!