AFC Bournemouth: Chairman Mostyn issues statement on club's annual accounts

Bournemouth Echo: CHAIRMAN: AFC Bournemouth's Jeff Mostyn CHAIRMAN: AFC Bournemouth's Jeff Mostyn

CHAIRMAN Jeff Mostyn has today issued the following statement after the publication of Cherries’ annual accounts for the year ending July 2013.

As reported by the Daily Echo yesterday, AFC Bournemouth Limited’s annual shortfall increased from £3,449,262 to £15,323,865 in the period covering their final season in League One and the summer leading up to their first season back in the Championship.

Mostyn’s statement read: "I have been asked a few questions in relation to the club's recently submitted accounts in relation to the year ending July 31, 2013.

“Any business is going to be disappointed posting a loss of any kind but with a football club that disappointment has to be put into perspective.

“We have an extremely ambitious owner, board of directors and manager who were all focused on gaining promotion to the Championship for only the second time in this club's history. As is the case with any business, success requires investment. That was precisely what we embarked upon and the end justified the means.

“In addition to strengthening the squad, we had a change of management team, a new club shop and state of the art training pitches built.

“We also invested heavily in our first team's support, employing a team of top quality analysts, sports scientists and medical staff. We use medical facilities amongst the best in Europe, which has enabled our injured players to return to the squad in record breaking time. We also have in place an international scouting network, keeping the manager aware of opportunities in the transfer market.

“With all of the above in place, the team has produced outstanding performances to reach the cusp of the play-offs in our first season back in the Championship. None of that could have been achieved without the substantial investment by the club's owner.

“You only have to look at the teams who are above us, and indeed below us, to realise how big their respective budgets are in comparison with ours and in some cases how much their corresponding level of debt is.

“The greatest significance going forward is the changes in the club's ownership and management. We now have one owner and a board of directors all singing from the same hymn sheet, all pulling in the same direction with one common goal, success for the club.

“With robust systems now in place, we are convinced, going forward, we will be able to reduce costs whilst maintaining our commitment to the success of the team on the pitch.

“It is important to remember we are in this for the long term. That statement is more than justified by the owner's past investment and his ongoing commitment to the club."

Comments (24)

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4:35pm Wed 30 Apr 14

Cross-Red says...

Troll Alert :-)

Invest a few quid in paddles so you are not left somewhere without one !!!
Troll Alert :-) Invest a few quid in paddles so you are not left somewhere without one !!! Cross-Red
  • Score: -25

4:42pm Wed 30 Apr 14

STEADY EDDIE 1 for the road says...

So there we have it people. We are all in this together and for the long-haul, so no more worrying, just turn up in good numbers, support the team and enjoy the ride.
So there we have it people. We are all in this together and for the long-haul, so no more worrying, just turn up in good numbers, support the team and enjoy the ride. STEADY EDDIE 1 for the road
  • Score: 18

4:45pm Wed 30 Apr 14

STEADY EDDIE 1 for the road says...

Cross-Red wrote:
Troll Alert :-)

Invest a few quid in paddles so you are not left somewhere without one !!!
Thanks for the advice(????) Cross-Breed Red..
[quote][p][bold]Cross-Red[/bold] wrote: Troll Alert :-) Invest a few quid in paddles so you are not left somewhere without one !!![/p][/quote]Thanks for the advice(????) Cross-Breed Red.. STEADY EDDIE 1 for the road
  • Score: 9

4:52pm Wed 30 Apr 14

Cross-Red says...

STEADY EDDIE 1 for the road wrote:
Cross-Red wrote: Troll Alert :-) Invest a few quid in paddles so you are not left somewhere without one !!!
Thanks for the advice(????) Cross-Breed Red..
No probs, always good to be prepared :-)
[quote][p][bold]STEADY EDDIE 1 for the road[/bold] wrote: [quote][p][bold]Cross-Red[/bold] wrote: Troll Alert :-) Invest a few quid in paddles so you are not left somewhere without one !!![/p][/quote]Thanks for the advice(????) Cross-Breed Red..[/p][/quote]No probs, always good to be prepared :-) Cross-Red
  • Score: -10

4:55pm Wed 30 Apr 14

Afcbpete says...

Hardly rocket science, nor indeed a surprise. The figures are only going to get bigger with various plans I'm sure Maxim has in store, so if this gives any one sleepless nights, they'd best see their Doctor for tranquillisers!! However, Maxim knows what he's about, and will invest in the club to reach his goals. I for one, certainly don't have any problems what so ever, with what is going on at DC, how on earth could I?? UTCIAD
Hardly rocket science, nor indeed a surprise. The figures are only going to get bigger with various plans I'm sure Maxim has in store, so if this gives any one sleepless nights, they'd best see their Doctor for tranquillisers!! However, Maxim knows what he's about, and will invest in the club to reach his goals. I for one, certainly don't have any problems what so ever, with what is going on at DC, how on earth could I?? UTCIAD Afcbpete
  • Score: 16

5:07pm Wed 30 Apr 14

devon fan says...

the statement makes sense, but us older supporters who have experienced a number lows and mis-management cannot help but wonder how the club intends to rectify this situation, and with regard to these fair play rules how will this affect the club and plans to move forward, another statement required please Jeff
the statement makes sense, but us older supporters who have experienced a number lows and mis-management cannot help but wonder how the club intends to rectify this situation, and with regard to these fair play rules how will this affect the club and plans to move forward, another statement required please Jeff devon fan
  • Score: 5

5:16pm Wed 30 Apr 14

Square Old Codger says...

Just had an alert - the Club's credit rating has been raised - I think that says it all!!! Creative Accounting can do wonderful things, revalue the players, buy the ground back and develop it under the auguries of the holding company and charge the Club a modest rental , anything is possible. We can be sure tht MrDemin is well advised.
Just had an alert - the Club's credit rating has been raised - I think that says it all!!! Creative Accounting can do wonderful things, revalue the players, buy the ground back and develop it under the auguries of the holding company and charge the Club a modest rental , anything is possible. We can be sure tht MrDemin is well advised. Square Old Codger
  • Score: 17

5:16pm Wed 30 Apr 14

Square Old Codger says...

Just had an alert - the Club's credit rating has been raised - I think that says it all!!! Creative Accounting can do wonderful things, revalue the players, buy the ground back and develop it under the auguries of the holding company and charge the Club a modest rental , anything is possible. We can be sure tht MrDemin is well advised.
Just had an alert - the Club's credit rating has been raised - I think that says it all!!! Creative Accounting can do wonderful things, revalue the players, buy the ground back and develop it under the auguries of the holding company and charge the Club a modest rental , anything is possible. We can be sure tht MrDemin is well advised. Square Old Codger
  • Score: 2

5:46pm Wed 30 Apr 14

Nat1234 says...

it's very worrying , I just hope if we don't get promotion next season. Maxim bails out . I really hope not , also will this have a bearing on what players we could possibl buy . ? But we have a good youth system in place . So perhaps a few of them will make the. Grade ,,
it's very worrying , I just hope if we don't get promotion next season. Maxim bails out . I really hope not , also will this have a bearing on what players we could possibl buy . ? But we have a good youth system in place . So perhaps a few of them will make the. Grade ,, Nat1234
  • Score: -14

6:05pm Wed 30 Apr 14

alasdair1967 says...

Be interesting to see next year's figures taking into account zero championship income in these published
Be interesting to see next year's figures taking into account zero championship income in these published alasdair1967
  • Score: 5

6:28pm Wed 30 Apr 14

Afcbpete says...

alasdair1967 wrote:
Be interesting to see next year's figures taking into account zero championship income in these published
don't you mean THIS season's figures 2013/14??
[quote][p][bold]alasdair1967[/bold] wrote: Be interesting to see next year's figures taking into account zero championship income in these published[/p][/quote]don't you mean THIS season's figures 2013/14?? Afcbpete
  • Score: 0

6:29pm Wed 30 Apr 14

goatty says...

Was this the accounts when Mitchell was in charge?
Wonder how many millions went into his and his families bank accounts....
Was this the accounts when Mitchell was in charge? Wonder how many millions went into his and his families bank accounts.... goatty
  • Score: -9

6:31pm Wed 30 Apr 14

Nat1234 says...

Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds ..
Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds .. Nat1234
  • Score: -15

6:56pm Wed 30 Apr 14

alasdair1967 says...

Afcbpete wrote:
alasdair1967 wrote:
Be interesting to see next year's figures taking into account zero championship income in these published
don't you mean THIS season's figures 2013/14??
Yes sorry, rushed post on mobile yes I do mean the 2013/2014 figures when published this time next year
[quote][p][bold]Afcbpete[/bold] wrote: [quote][p][bold]alasdair1967[/bold] wrote: Be interesting to see next year's figures taking into account zero championship income in these published[/p][/quote]don't you mean THIS season's figures 2013/14??[/p][/quote]Yes sorry, rushed post on mobile yes I do mean the 2013/2014 figures when published this time next year alasdair1967
  • Score: 3

6:58pm Wed 30 Apr 14

Solentcherry says...

As I said in another post, this is the price of success in modern football.
Also was the cost of the Macdougall stand included in these accounts ?.
Have heard rumours that the corners of the ground are to be developed next to increase capacity. Is investment in such infrastructure counted against fair play expenditure .?
In Eddie, Jeff and maxim we trust. COYC.
As I said in another post, this is the price of success in modern football. Also was the cost of the Macdougall stand included in these accounts ?. Have heard rumours that the corners of the ground are to be developed next to increase capacity. Is investment in such infrastructure counted against fair play expenditure .? In Eddie, Jeff and maxim we trust. COYC. Solentcherry
  • Score: 5

6:59pm Wed 30 Apr 14

susi.m says...

goatty wrote:
Was this the accounts when Mitchell was in charge?
Wonder how many millions went into his and his families bank accounts....
Yes
[quote][p][bold]goatty[/bold] wrote: Was this the accounts when Mitchell was in charge? Wonder how many millions went into his and his families bank accounts....[/p][/quote]Yes susi.m
  • Score: 3

7:12pm Wed 30 Apr 14

abc100 says...

Nat1234 wrote:
Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds ..
Please expand Nat1234, you wouldn't possibly be getting on to your favourite subject by any chance???
[quote][p][bold]Nat1234[/bold] wrote: Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds ..[/p][/quote]Please expand Nat1234, you wouldn't possibly be getting on to your favourite subject by any chance??? abc100
  • Score: 8

7:12pm Wed 30 Apr 14

shifty035 says...

susi.m wrote:
goatty wrote:
Was this the accounts when Mitchell was in charge?
Wonder how many millions went into his and his families bank accounts....
Yes
u got to remember we have had to pay off old managers and the way the club used to be run mitchell got payed plus we had a loan from maxium before he bought him out so all in all i dont think we got to worry roll on next season lets put our money where our mouths are and help make money for the club lets fill the stadium week in and week....
[quote][p][bold]susi.m[/bold] wrote: [quote][p][bold]goatty[/bold] wrote: Was this the accounts when Mitchell was in charge? Wonder how many millions went into his and his families bank accounts....[/p][/quote]Yes[/p][/quote]u got to remember we have had to pay off old managers and the way the club used to be run mitchell got payed plus we had a loan from maxium before he bought him out so all in all i dont think we got to worry roll on next season lets put our money where our mouths are and help make money for the club lets fill the stadium week in and week.... shifty035
  • Score: 8

10:05pm Wed 30 Apr 14

eaststandman says...

abc100 wrote:
Nat1234 wrote:
Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds ..
Please expand Nat1234, you wouldn't possibly be getting on to your favourite subject by any chance???
Well, it would only be about 12 million without him..........

Don't forget, that lot just up the posted losses in excess of 57 million. They still owe 27 million from unpaid transfer monies.

We'll be fine once Adam the llama is sold to Man U.....
[quote][p][bold]abc100[/bold] wrote: [quote][p][bold]Nat1234[/bold] wrote: Some of the money spent we've had a very good return on . But some money spent have been a complete waste of valuable funds ..[/p][/quote]Please expand Nat1234, you wouldn't possibly be getting on to your favourite subject by any chance???[/p][/quote]Well, it would only be about 12 million without him.......... Don't forget, that lot just up the posted losses in excess of 57 million. They still owe 27 million from unpaid transfer monies. We'll be fine once Adam the llama is sold to Man U..... eaststandman
  • Score: 3

10:57pm Wed 30 Apr 14

Phil McG (Italy) says...

FTAO Nat1234, Just to help you switch off your stuck record at least for one message board, the figures published don't include the purchase of TK. He was signed a couple of months into the 2013/14 season and these figures only run up to pre season. Seriously though, get off Rantie's back. The club hasn't spent your money so what are you griping about?!

As 'Devon Fan' mentioned earlier, running at huge losses does send a nervous shiver down the back, considering our past failings in the boardroom department but then again, we've never had someone like Maxim before. All of the 'big boys' in the Premiershi* are running on substantial losses year on year and they don't seem to be losing any sleep over it.

The club, staff and backers are doing their bit, it's up to the people of Bournemouth to do theirs with support and bums on seats. Up the Cherries!
FTAO Nat1234, Just to help you switch off your stuck record at least for one message board, the figures published don't include the purchase of TK. He was signed a couple of months into the 2013/14 season and these figures only run up to pre season. Seriously though, get off Rantie's back. The club hasn't spent your money so what are you griping about?! As 'Devon Fan' mentioned earlier, running at huge losses does send a nervous shiver down the back, considering our past failings in the boardroom department but then again, we've never had someone like Maxim before. All of the 'big boys' in the Premiershi* are running on substantial losses year on year and they don't seem to be losing any sleep over it. The club, staff and backers are doing their bit, it's up to the people of Bournemouth to do theirs with support and bums on seats. Up the Cherries! Phil McG (Italy)
  • Score: 13

9:32am Thu 1 May 14

coops1965cherry says...

I have got a spare Millwall ticket for Saturday, cost face value.

Please let me know, going by train leaving Bournemouth station 0800.

post on here if you want it.#

U T C I A D.
I have got a spare Millwall ticket for Saturday, cost face value. Please let me know, going by train leaving Bournemouth station 0800. post on here if you want it.# U T C I A D. coops1965cherry
  • Score: 0

10:38am Thu 1 May 14

Local fan says...

Investment is necessary and it paid rewards this season, we are indeed very fortunate to have an owner who is committed to the club. I hope we will continue to fill the stadium, and that it will be enlarged. Success on the pitch is essential to boost the bottom line and the professionalism at AFC Bournemouth is commendable and necessary for the club to play at the top level. I shall renew my season ticket at the first opportunity and support the club by attendance at the most matches I can, including pre-season.
Investment is necessary and it paid rewards this season, we are indeed very fortunate to have an owner who is committed to the club. I hope we will continue to fill the stadium, and that it will be enlarged. Success on the pitch is essential to boost the bottom line and the professionalism at AFC Bournemouth is commendable and necessary for the club to play at the top level. I shall renew my season ticket at the first opportunity and support the club by attendance at the most matches I can, including pre-season. Local fan
  • Score: 2

2:31pm Thu 1 May 14

Mike_French says...

The 25% sell-on clause for Lallana should help if Southampton decide to sell him.
The 25% sell-on clause for Lallana should help if Southampton decide to sell him. Mike_French
  • Score: 0

9:52pm Thu 1 May 14

carrrob says...

You can bet the mitchell clan did very well out of this and will keep them going until the next sucker comes along
You can bet the mitchell clan did very well out of this and will keep them going until the next sucker comes along carrrob
  • Score: 2

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