Eddie Mitchell has revealed the club have had two bids to buy back the Seward Stadium rejected, including a £4.5 million offer.
The Cherries chairman is reluctant to increase the bid, but is hopeful an agreement can be reached to purchase the stadium. Mitchell also unveiled plans to build a hotel and spa complex on the land behind the South Stand, as well as developing two training pitches in Kings Park.
Buying back the Seward Stadium has been a long term goal for Mitchell since becoming chairman in June 2009. The stadium was sold in 2005 for £3.5 million to prevent the club going into receivership, and was then leased back to the club for around £300,000 a year.
Mitchell said, "We have tabled two bids to buy the stadium back. We've got a window of opportunity, where we can raise the finances. Our highest bid was £4.5 million, which was considerably more than it was sold for. I don't think it makes sense financially to increase the bid above that ceiling. At this moment in time that offer has been rejected.
"We've got to look at what options we've got, where we invest and when we invest and how much we invest. There's always other avenues, there's other venues. We don't want to go to other venues, the club's been at Dean Court for over a hundred years and we don't want to change that and we've got no desire to move. We have got an ongoing lease at the club, which does secure our future playing here providing the rent is paid.
"I wouldn't like to draw a line under it, but for the foreseeable future I don't think we would want to increase that bid, so that's where we are."
Mitchell outlined plans to build a new stand where the empty South Stand currently is, with a hotel and spa complex, but insisted the bid wouldn't put the club back in to financial difficulties.
Mitchell is also keen to bring the club's training facilities back to Bournemouth, and has targeted the pitches behind the East Stand in Kings Park. He said, "There's already two pitches there that are derelict, and we would have to spend somewhere in the region of £400,000 or £500,000 to renovate the pitches and to landscape around there. We think it would be a good investment, and we've spoken to the council and by and large they're in agreement with what we want to do. We have put the plans in, and hopefully we can get cracking with work just before Christmas.
"We are looking to achieve a management agreement with the council where we can develop two training pitches and bring the youth back in house, train and perform alongside the first team. I'm sure that will help future local players come through to the first team and give us more strength in depth."
Click here to read the story on afcb.co.uk.
The Cherries chairman is reluctant to increase the bid, but is hopeful an agreement can be reached to purchase the stadium. Mitchell also unveiled plans to build a hotel and spa complex on the land behind the South Stand, as well as developing two training pitches in Kings Park.
Buying back the Seward Stadium has been a long term goal for Mitchell since becoming chairman in June 2009. The stadium was sold in 2005 for £3.5 million to prevent the club going into receivership, and was then leased back to the club for around £300,000 a year.
Mitchell said, "We have tabled two bids to buy the stadium back. We've got a window of opportunity, where we can raise the finances. Our highest bid was £4.5 million, which was considerably more than it was sold for. I don't think it makes sense financially to increase the bid above that ceiling. At this moment in time that offer has been rejected.
"We've got to look at what options we've got, where we invest and when we invest and how much we invest. There's always other avenues, there's other venues. We don't want to go to other venues, the club's been at Dean Court for over a hundred years and we don't want to change that and we've got no desire to move. We have got an ongoing lease at the club, which does secure our future playing here providing the rent is paid.
"I wouldn't like to draw a line under it, but for the foreseeable future I don't think we would want to increase that bid, so that's where we are."
Mitchell outlined plans to build a new stand where the empty South Stand currently is, with a hotel and spa complex, but insisted the bid wouldn't put the club back in to financial difficulties.
Mitchell is also keen to bring the club's training facilities back to Bournemouth, and has targeted the pitches behind the East Stand in Kings Park. He said, "There's already two pitches there that are derelict, and we would have to spend somewhere in the region of £400,000 or £500,000 to renovate the pitches and to landscape around there. We think it would be a good investment, and we've spoken to the council and by and large they're in agreement with what we want to do. We have put the plans in, and hopefully we can get cracking with work just before Christmas.
"We are looking to achieve a management agreement with the council where we can develop two training pitches and bring the youth back in house, train and perform alongside the first team. I'm sure that will help future local players come through to the first team and give us more strength in depth."
Click here to read the story on afcb.co.uk.
