JEFF Mostyn is hoping Cherries’ transfer embargo will be lifted “sooner rather than later” and today outlines the reasons behind the ban.

Mostyn had a “positive and constructive” meeting with Football League officials just days after the Murry Group’s takeover had been concluded.

Cherries’ transfer activity has been closely monitored by league chiefs ever since the club had its share returned last August.

However, although the club has been subject to a rolling embargo for the past 12 months, the ban was tightened in February.

Vice-chairman Mostyn told the Daily Echo: “The new board felt it prudent that I should meet the Football League at the earliest opportunity to ascertain their view on the current standing of the club. It also gave me the chance to discuss what was required of the new owners in order to comply with league membership.

“I was advised that a transfer embargo had been placed on the club as a result of various breaches by the previous owners. We currently have embargoes as a result of the club’s debts to HMRC, to other football clubs and a nominal amount to the Football League.

“I think it is important for our supporters to understand the league’s rationale behind any transfer embargo. They are primarily put in place as a result of debt to HMRC and to fellow league clubs.

“The league believes that, if you are not meeting your financial obligations, bringing in new players, at whatever cost, is adding to your commitments and will make any repayment of debt more difficult, if not impossible. However difficult it is to stomach, it is hard to disagree with the philosophy.”

Mostyn has been working around the clock in a bid to get the embargo relaxed so Cherries can complete the signing of Lewis Smith. And although his latest attempt failed on Thursday, Mostyn will continue dialogue early next week.

He added: “In order to get the league to consider lifting the current embargo, we needed to demonstrate that we had an agreement in place with HMRC and I was able to satisfy them on this point.

“We are also required to clear the football creditors and, most importantly, provide the league with a cash flow demonstrating our ability to fund the club for the entire season and beyond.

“Since my meeting, we have paid a substantial sum to HMRC, brought the wages up to date and paid the rent and numerous creditors. This clearly demonstrates to the league our intention to create a solid foundation in which to trade.

“I have kept Eddie Howe fully informed of the latest developments and while I was disappointed that I couldn’t get the embargo lifted this week, all my discussions continue to be positive.

“Understandably, the league cannot promise when the embargo will be lifted. But I have every confidence that, once we have provided them with the detailed cash flow forecast, it will be lifted sooner rather than later.”

Previous co-owner Paul Baker acknowledged “various breaches” by Sport-6 had led to the tightening of the ban at the time, while it is Football League policy not to comment to the media on embargoes.