Cherries directors sell stakes

Bournemouth chairman Eddie Mitchell has revealed that directors Jeff Mostyn and Steve Sly have sold their stakes in the club.

Reports earlier in the week suggested that the pair, who held 50% of the Cherries' shares between them, had been negotiating the sale with a Russian consortium headed by multi-millionaire Maxim Demin. While Mitchell did not reveal the identity of his new partner at the Seward Stadium, he confirmed in a statement that Mostyn and Sly had sold up. "I can confirm that, after lengthy negotiations, contracts have been exchanged for the purchase of Steve Sly and Jeff Mostyn's shares in AFC Bournemouth," he said. "My new partner has a 50% share in the club and I'm looking forward to working with them closely. This is the start of a new era for the club and one we are very excited about. "It will give us a sound and solid base to build from as we continue to progress on and off the field."