CHAIRMAN Jeff Mostyn WILL launch a fresh bid to take control of Cherries - if no other offers land on Gerald Krasner's table before Monday.

Krasner yesterday invited new bids for the ailing club, after Mostyn's partnership with businessman Marc Jackson broke down earlier this week, with the Begbies Traynor specialist confirming Mostyn's offer was in breach of agreements on sale and funding.

The former Leeds United chief gave Mostyn until 11.30am yesterday to proceed with his bid, before the current chairman informed Krasner of his intention to withdraw the offer just moments before yesterday's press conference.

Krasner also confirmed the removal of Mostyn's exclusivity agreement following the Jackson revelations and urged any other parties interested in the club to come forward before Monday afternoon's creditors' meeting.

But Mostyn, who, the Echo understands, is close to agreeing a fresh partnership with another local businessman, has pledged to table a second bid should Krasner still be waiting for firm offers on Monday.

When asked by the Echo after yesterday's press briefing if he would definitely bid again, Mostyn said: "I think that would be fair to say.

"I think there's as good a chance as anybody else out there. But we've showed our hands to other people and they can now launch a bid straight to the administrator."

However, when pressed on the possible figures involved in any second offer, Mostyn would only confirm the deal would be worth less than his previous conditional bid of £1 million.

And if other potential buyers fail to put forward offers close to Mostyn's initial bid, a successful CVA and avoidance of further Football League punishment now looks increasingly unlikely.

Mostyn, who will not be privy to any future offers from other parties, added: "I had the ability to complete the first agreement I had and my offer to the creditors. Why I needed a partner and why I got a partner (Marc Jackson) was to provide the club with additional funds to take it forward.

"Because that partner is no longer, I didn't feel there was any rhyme or reason why I should complete a bid and find that the day after I own the club again, there was insufficient funds to take it forward.

"That wasn't the right thing for the future of the club. So, once my arrangement with Marc Jackson broke down, I was left financially exposed and had to make the decision to go ahead and fund the whole project myself or find another partner.

"In the past 72 hours, I've been desperately trying to find a partner. I believe I've found the right partner, but unfortunately, I ran out of time."

Mostyn defended his decision to also withdraw a further £50,000 of funding, after Krasner revealed a shortfall in the initial pledge of £350,000 to see Cherries through until after the creditors' meeting.

Mostyn said: "What would the rationale have been in me paying another £50,000 and then pulling out of my deal?

"What I said to Gerald was, If I pay the £50,000 then I will complete the bid'.

"Otherwise I'm just throwing another £50,000 down the drain. I've kept to my commitment and the final £100,000 of the £350,000 was only due on April 1.

"But I paid £50,000 in advance so I might be a couple of days behind on the final £50,000 but the other £50,000 was in advance."

Should another bidder come forward with a firm offer for the club, Mostyn would be first in the queue for a creditors' dividend - thanks largely to a debenture registered following payment of three months' player wages earlier this year and his funding arrangement with Krasner.

"There's still the question of my funding arrangement with the administrator and my debenture, and those would take priority over anybody else's claim," Mostyn told the Echo.

"But as we sit here now, you've really got to right off what you put in. Any bids now go straight to the administrator and he'll decide what happens to that money. Whatever happens, though, if there is a payment to creditors, I will be first in line.

"What is certain is I stand to lose more than anybody else.

"I've been good to my word and everything I said I'd do for the football club, I've done.

"Even just getting my debenture was because I paid three months wages. Nobody could have put more into this football club than I have."

Mostyn declined to elaborate on the reasons behind the split with Jackson, but did add: "I felt that putting the club into administration was the right thing to do and really there wasn't any choice. We decided then to set up a consortium that appeared to be rock solid, but history has demonstrated that that isn't the case.

"Myself and Steve Sly have been good to our word - we've just been let down at the 11th hour, but I'll keep a diplomatic silence on that other than to say one person's fantasy has become my biggest nightmare."

On Krasner's reaction to the consortium's breakdown, Mostyn replied: "It's fair to say Gerald Krasner was as disappointed with the Jackson situation as I was."

When contacted by the Echo last night, Jackson said he was "worried" for the club and was still hopeful of being involved in a future bid.