Premier League Bournemouth settle with EFL
Bournemouth, about to enter their fourth season in the Premier League, have finally settled with the English Football League (EFL) over a breach of financial fair play (FFP) rules when they were in the Championship in 2014/15.
The club will pay £4.75 million as a full and final settlement of any claims against the club or its officers for that season.
Bournemouth are now thought of as a well run club, but that hasn't always been the case and they flirted with insolvency before current owner, Russian businessman Maxim Demin took over in 2011,
The dispute over the breach of FFP rules has taken a long time to settle; A statement from the EFL and the club said: “The club was deemed to have breached the EFL’s Championship Financial Fair Play Rules (“the Rules”) at the time, but proceedings were stayed pending the outcome of a legal challenge by Queens Park Rangers against those Rules.
“In reaching a settlement, the EFL acknowledges that the club did not make any deliberate attempt to infringe the Rules or to deceive. All relevant matters were taken into account when determining the quantum of the settlement.”
Bournemouth’s latest financial results to 30 June 2017, show the club more than quadrupled pre-tax profits to £14.6 million in the period to 30 June 2017.