Date:Friday July 6 2012
AFC Bournemouth chairman Eddie Mitchell insists the Cherries are under no pressure to repay a recent £6million loan to the club.
The Cherries received a £6million loan from Wintel Petrochemicals Ltd last month.
AFC Bournemouth co-owner Maxim Demin is listed as a director of Wintel Petrochemicals Ltd, but Cherries chairman Eddie Mitchell has not confirmed if the loan had come from Demin.
Mitchell insists that the loan is not an indication of financial difficulty, but rather a sign of the development of the football club including investment in the stadium, rental payments on the ground and investment in the first team.
Mitchell told the Daily Echo...
"The loan is to develop the ground, which is what people can see we have been doing, to buy players and pay their wages. It doesn`t come cheap to get the type of players we have got.
"If you borrow money from somebody, one would like to think you would pay it back at some time. But we are not under pressure to pay it back at all at the moment.
"Nobody has given us a timescale on the loan, we are servicing the loan and one would like to think the loan is there indefinitely...'
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Date:Friday July 6 2012
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