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UPDATED: CLUB CONFIRMS BAKER BUY-OUT
The Echo website revealed earlier this evening how Murry's group was poised to purchase Baker's 50 per cent shareholding.
Murry, who joined the club's board at the start of November, is fronting a group of local and national business people.
The statement read: "Cherries Chairman Paul Baker has today stepped down from the AFC Bournemouth board.
"He has this afternoon also sold his shareholding in AFC Bournemouth to a consortium headed by Bournemouth-based businessman Adam Murry.
"The club is holding a press conference at Dean Court on Friday at 10.30am where the new board will update the local media on the current situation at the club."
FULL STORY AND REACTION IN TOMORROW'S ECHO