Cherries deal falls through

15 April 2008 07:18
Bournemouth administrator Gerald Krasner has revealed that talks with the club's potential new owner have fallen through. On Friday, the Cherries revealed that EU UK Ltd were in pole position to complete a takeover at the cash-strapped club. However, after asking for Monday's deadline to complete the purchase of the club to be extended, the West Country-based business' attempted takeover has now fallen through. It is believed they withdrew from talks after being asked to deposit funds in order for the deadline to be extended. "Under the process given and agreement with EU UK Ltd we were prepared to offer an extension to their bid under certain terms and agreements, but as a result EU UK Ltd have declined this and have withdrawn their bid for the club," revealed Krasner. Krasner will now reopen talks with other parties interested in saving the ailing League One club, who are a reported £4million in debt.

Source: ESA