Kieran Maguire reveals how new £67m injection will be spent at Bournemouth
Bournemouth will use the new £67million injection from their owners to improve the Vitality Stadium or build an entirely new venue.
That is the opinion of finance expert Kieran Maguire, who exclusively told Football Insider that the Cherries need to improve their infrastructure if they remain in the Premier League.
As revealed by Football Insider, Bournemouth owners Black Knight Football have invested £67million into the club in the form of a new share issue.
It is unclear whether or not the new shares come in the form of new cash or the conversion of debt into equity.
However, Bournemouth chairman Bill Foley has previously spoken about plans to build a new ‘£90million’ stadium since his takeover of the club.
The Vitality Stadium is currently the second smallest ground in the Premier League in terms of capacity behind only Luton Town’s Kenilworth Road.
Maguire believes the new cash generated by the owners will be used to either improve the Vitality Stadium or build a new venue nearby.
“There’s no doubt that Bournemouth’s new owners want to cement the club’s position in the Premier League,” Maguire told Football Insider’s Sean Fisher.
“And for that to be successful, the club needs to maximise its revenue-generating potential.
“The stadium at present doesn’t achieve that with a capacity of 11,000.
“So I suspect a significant amount of the new £67million share issue that has been injected into the club will be used to improve facilities either in an expanded stadium or a new stadium
“That infrastructure will benefit fans as well as the squad, so it’s a positive sign.
“It’s also clearly an indication that the new owner is very keen to make his mark, as he has done domestically in the US so it’s certainly intriguing times for Bournemouth fans.“
In other news, Bournemouth are set to reject West Ham offer for 26-year-old star