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Bournemouth Football Club has been given until mid-day tomorrow to consider an offer made to them by the Football League.
A new Bournemouth company has applied to join League Two as opposed to the former company.
The main terms of the deal are:
1. The club will be deducted 17 points for the 2008/09 season. This takes into account the fact that the club has had a previous insolvency event.
2. The club must provide a legal waiver indicating that it will not challenge or appeal this decision.
3. The club must pay unsecured creditors the amount offered at the time of the CVA hearing.
The Board's offer is subject to the club agreeing these conditions, and formal agreements being signed, by 12.00 noon tomorrow.
The offer has effectively laid out a precedent for the number of Administration periods. Leeds' sole Administration earned them a 15 point penalty, while Rotherham and Bournemouth had two Administrations each and got a 17 point deduction. Luton, with three to their name, received a 20 point drop.
