JEFF Mostyn has moved to clarify the club’s stance on financial fair play following a recent national newspaper article which said owner Maxim Demin could become “frustrated”.
Chairman Mostyn was interviewed and quoted in the story which appeared in The Guardian in the lead up to Cherries’ high-profile FA Cup clash against Liverpool.
In it, Mostyn said there was a financial imbalance due to massive parachute payments made to clubs relegated from the Premier League, with the article going on to warn Demin could become “frustrated” if his spending and ambitions were too constrained.
Speaking to the Daily Echo, Mostyn said: “There were one or two comments in the national press that there was an element of frustration around the football club in relation to Maxim. I would like to make it abundantly clear that nobody is frustrated. We are all ecstatic about the progress we are making.
“The comment was made in relation to financial fair play. We believe it is slightly unfair where you have clubs dropping into the Championship from the Premier League with £23million worth of parachute payments and yet we have to look towards breaking even.
“That is the frustration which is shared by most Championship clubs not in receipt of any parachute payments. I can assure our supporters that Maxim is extremely happy with the strides we are making.”
Under financial fair play, clubs in the Championship are permitted to incur a loss of between £3million and £8m this season. The £3m ceiling applies if the club owner does not inject equity. Sanctions for any overspend would be implemented in December.