Tuesday, 20 March 2007

AFC Bournemouth No Longer Mutual

This month the Co-op Party is highlighting of Community Sports. But this week it's a change of ownership at Bournemouth football club which pioneered ownership by fans.
"Sad though it is in some respects to see Bournemouth’s experiment with co-operative ownership by the Fans Community Mutual come to an end, the club has debts estimated at more than £3.5m and was facing the very real threat of going out of business."
(from SoCalledSmallerClubs where I found this story).
The controlling interest was purchased for 750,000 GBP though it's going to take a lot more money to keep it going. News Story.