ADAM Murry has tonight confirmed that an "agreement in principle" has been reached with Sport-6 for the sale of AFC Bournemouth to his consortium.

Cherries owners Paul Baker and Alastair Saverimutto have both given the green light for the transfer of the club's shares to the Murry group, which includes former Cherries directors Jeff Mostyn and Steve Sly.

It is understood the door will left open for Saverimutto's much-publicised Middle East investors to step in, should that deal come to fruition at a later date.

In a statement released to the Echo tonight, Murry said: "Following a series of meetings during the past few weeks, an agreement in principle has been reached between the Murry group, Paul Baker and Alastair Saverimutto to acquire the club's shares.

"This will require Jeff Mostyn to tear up his current legal agreement with Paul Baker and Sport-6 at significant personal cost and the group introducing more funds to bring some stability off the field.

"This proposal had been put on hold to give Cherries chief executive Alastair Saverimutto more time to bring in the much-talked-about 'Middle East consortium'. Sadly this has not materialised in the required timescale, so this option must now be explored to give the club any chance of Football League survival.

"This is by no means a done deal, as the trio have just days to fully understand the club's perilous financial state and agree to settle the pending winding-up petition, while also trying to reach agreement with other pressing creditors, including HMRC."

MORE ON THIS STORY IN TOMORROW'S ECHO