CHAIRMAN Jeff Mostyn believes his latest cash injection has saved Cherries from certain liquidation - and given Kevin Bond's charges the chance to pull off the greatest escape in Football League history.

Mostyn was on Tuesday confirmed as the preferred bidder to take Cherries out of administration and, in a statement released exclusively to the Echo yesterday, he reveals how:


He couldn't let the club "go at the 11th hour";

He will be talking to supporters' trust chairman Derek Timoney to ensure the fans remain at the heart of the club;

Speculation over "multi-millionaires coming forward to save the club" has driven him to despair;

He has been "let down badly" by various promises of investment;

He has now found a partner to assist with funding the club.
Mostyn handed a cheque for £80,000 to administrator Gerald Krasner on Monday afternoon after the Begbies Traynor official called a press conference for Tuesday.

Krasner is understood to have been preparing to inform the press of the club's imminent closure after two other bidders, who were given until noon on Monday to lodge a £100,000 deposit, failed to come up with the cash in time.

And Mostyn, who now has total exclusivity with Krasner following his latest cheque signing, reiterated his disappointment after previous bids for the ailing club fell flat.

He said: "I made the decision late Monday afternoon. It became clear that no money was forthcoming from other bidders to provide the administrator with sufficient funds to save the club from the possibility of immediate liquidation, costing the club the chance of completing the season and possibly pulling off one of football's greatest miracles - survival in League One after a 10-point deduction.

"I couldn't let it go at the 11th hour and while I may not be the best man for the job, I am the only person who has stepped up to the plate every time there has been a need to provide funds to keep the club afloat.

"There may well be more qualified chairmen out there and there are certainly people waiting in the wings with considerably more wealth than me.

"But what I can tell you is there is no more passionate person than me, who was willing and prepared to help the club survive and move forward.

"All the speculation about the various multi-millionaires coming forward to save the club have resulted in nothing but despair for us all.

"Only three weeks ago I was stepping aside for a new group of people with great plans to take the club on.

"Unfortunately for us all, like many others, the bid did not come to fruition. I was as disappointed as all of our supporters.

"I now have the responsibility of putting forward a proposal to the administrator that will at last take the club out of administration and forward.

"I believe I have at last found a new partner to help me with the financial burden associated with running a football club - someone who will also provide a great deal of added value.

"In addition, Steve Sly will continue to be at my side as he always has been.

"I would like to take this opportunity to thank Steve for his amazing commitment and loyalty to me when others, to say the very least, have let me down badly.

"I am also, as a matter of urgency, looking to bring in senior executives to complement our existing staff and run the business on a day-to-day basis.

"I will also be talking to the supporters' trust chairman at the earliest opportunity next week to ensure we have a solid relationship with all of our supporters going forward.

"All I am interested in at the moment, however, is the game at Carlisle and my daughter's wedding on Saturday.

"Despite speculation, I am not going to make any further comments in respect of my partner or business plan until a formal agreement has been reached with the administrator."




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