Bournemouth are enjoying unprecedented success. They are in the quarter finals of the league cup for the first time and two points off the top of the Championship.
But how firm are the financial foundations of their success? The club is owned by Russian Maxim Victorovich Demin. He has a petrochemical company registered in Germany and a mansion in nearby Sandbanks.
He bought halft he club for a reported £850,000 in 2011 and the other half in 2013. The club almost went out of existence in 2008 with debts of about £4m and a 17-point penalty.
Bournemouth are enjoying unprecedented success. They are in the quarter finals of the league cup for the first time and two points off the top of the Championship.
But how firm are the financial foundations of their success? The club is owned by Russian Maxim Victorovich Demin. He has a petrochemical company registered in Germany and a mansion in nearby Sandbanks.
He bought halft he club for a reported £850,000 in 2011 and the other half in 2013. The club almost went out of existence in 2008 with debts of about £4m and a 17-point penalty.
However, in April Bournemouth revealed losses of £15.3m. The accounts showed that they owed one of Demin’s companies £7.5m and the club’s parent company £8.7m. That could put them in breach of the financial fair play rules that allow for a maximum £8m loss for the 2013-14 season.