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Cherries Defend 6 Million Loan To Club
Published : 10 Jul 2012 18:09:27
AFC Bournemouth are defending a £6 million loan that has been made to the Club.
AFC Bournemouth have announced that they are in receipt of a staggering loan to the tune of £6 million, which has been mae to them by a company called Wintel Petrochemicals Ltd, a director of which is reported as being a Mr M V Denim.
Eddie Mitchell is quoted in the Bournemouth Evening Echo as saying about that loan that: "The loan is to develop the ground, which is what people can see we have been doing, to buy players and pay their wages. It doesn’t come cheap to get the type of players we have got. If you borrow money from somebody, one would like to think you would pay it back at some time. But we are not under pressure to pay it back at all at the moment. Nobody has given us a timescale on the loan, we are servicing the loan and one would like to think the loan is there indefinitely. In an ideal situation, like mortgages or other sorts of loans, you would rather not have them".