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AFC Bournemouth have entered Administration, it has been confirmed.
The club will be deducted ten points as a result and sink to the bottom of League One, 11 points adrift of safety. They have debts of around £4million, and made five staff members redundant yesterday as they attempted to stave off Administration.
The move is expected to delay the Inland Revenue's winding up order, set to be heard on March 12th. Discussions over new investment into the club are ongoing with Begbies Traynor, the Administrators of Wrexham and Crawley amongst others, now overseeing the club. Local paper the Daily Echo is expecting former Leeds chairman Gerald Krasner to head up the Administration team.
