CHAIRMAN Eddie Mitchell has played down suggestions Cherries could be on the verge of securing big-money investment from Russia.

Echo sources claim vice-chairman Jeff Mostyn and director Steve Sly are pondering an offer to sell their respective shareholdings in the club.

It is believed the Energy Consulting Group, which sponsored an international tournament at the Seward Stadium in pre-season, could be the interested party.

Mitchell and his wife Brenda both have 25 per cent shareholdings in AFC Bournemouth, while Mostyn owns 44 per cent and Sly the remaining six.

It is believed all interested parties may have signed a confidentially agreement and Mostyn politely declined to comment when approached by the Daily Echo.

Mitchell, asked by the Echo whether Mostyn and Sly were preparing to sell their shares in the club, replied: “Whatever is discussed in the boardroom, if it affects the future of the club, it is confidential.”

Probed again ahead of a fans’ forum on Thursday, he said: “We are always looking for investment in the club and have considered some options which could be available to us.

“It is my job to look for investment and I think I have found it, but I don’t want to say any more than that at the moment because I don’t want to look foolish and I don’t want to frighten away investors by saying anything.”

When asked about potential Russian investors, he replied: “They don’t necessarily have to be Russian and it might be in various ways. I don’t really want to divulge any more, other than the fact I am spending a lot of time working on it.”

And asked whether Mostyn and Sly could be ready to sell, Mitchell said: “What Jeff and Steve decide to do is not influenced by me. I can’t make up their minds for them. At this moment in time, they are invaluable to the board and to me.”

It is understood Mostyn and Sly would retain their respective roles on the board of directors, should any deal come to fruition.

The EC Group stumped up around £250,000 in prize money and expenses to fund the inaugural pre-season tournament in July and are expected to do the same next summer.

Mitchell also hosted several officials from the EC Group during Cherries’ final game of last season against Rochdale.