Tuesday, 21 May 2013

AFCB accounts not great reading

Tony Husband announced on BBC South this evening that: "AFC Bournemouth made a loss of £3.4 million, according to their accounts file for last year, amidst concerns from auditors about the company's ability to continue as a going concern. The significance of Russian businessman, Maxim Demin's investment is highlighted. He loaned the company £6 million loan last year.

"The Cherries achieved promotion to the Championship last year on the back of heavy investment. Auditors had noticed that there's been an uncertainty about Bournemouth's ability to continue trading, these concerns are allayed by the directors who point to the presence of Demin, the 50 per cent co-owner of the club along with Eddie Mitchell.

"Bournemouth also face a half million pound bill if they lose an up coming employment tribunal with former boss Lee Bradbury, who left the club in 2012. That's a claim they are contesting."

Having heard all that, it does seem that the club has a gamble at getting promotion and without Demin's financial loan the club was financially stretched.

Today though we hear the that the club has sold a record 4000 season tickets and it's revenue is likely to climb next season now that it has reached the Championship.

It is a thin tightrope that the club has been treading to get promotion but let's hope that it does not break the bank in trying to stay there. Common sense must prevail and that is no doubt what the club has been thinking with its "restructuring''.

BBC article is at http://www.bbc.co.uk/sport/0/football/22612870

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