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Potential bidders for Bournemouth will need a minimum of £3million to invest in the club, according to Administrator Gerald Krasner.
The former Leeds chief paid tribute to chairman Jeff Mostyn in his opening press conference, adding that the club would have already folded early next week without Mostyn pumping a six figure sum into the club:
"I would like to thank Jeff, who has made the administration possible by providing me with a six-figure sum to enable the club to trade in the short term whilst we try and sort out these problems.
"I have to say, having only been involved at the club since Monday, without that funding this club would not have gone beyond Sunday in my opinion and next week you could have seen the liquidation and extinction of Bournemouth Football Club."
Krasner went on to add that there were already more than one interested party in the purchase of the club, but that bidders would need £3million as a starting point:
"Potential investors can speak to me on the phone and if they prove they have real money to invest we can start talking. We're looking at a minimum of three million pounds. We can't provide details of ongoing deals and negotiations, but we will be speaking to the press and providing updates throughout this process."
