Bournemouth will start the League Two season on minus 17 points, the Football League has confirmed.
The Cherries have been handed the points penalty after failing to exit administration via the necessary Company Voluntary Agreement and for being declared insolvent for the second time in as many years.
The club must provide a legal waiver indicating they will not challenge or appeal the League's decision and pay unsecured creditors the amount offered at the time of the CVA hearing.
They must agree to the conditions and sign a formal agreement by midday on Friday.
Bournemouth would then be given the go-ahead to kick off their campaign against Gillingham on Saturday.
Bournemouth manager Kevin Bond admits survival is now the club's first priority, but was "relieved" to finally get the matter resolved.
"The League have rules and we have to abide by them," he told Sky Sports News.
"It's been hanging over us for a long, long time now and we can move forward from here.
"We would have liked less, obviously, but it wasn't to be so we now need to move on and erase them, if possible, as soon as possible.
"Not wanting to appear negative, our initial aim is to steer clear of relegation, that's our number one goal, and if we are able to do that we'll see where it takes us from there."
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Comment 1 - 3 of 3
im a leeds united fan as well and i think its an absolute disgrace that we were penalised the points- doncaster and notts forest went up by default.Im sorry for bournemouth and luton too because the real losers as always are the fans.I say to the FA you are wrong on this you are penalising the football fans the very people who pay their money to support their team in all weathers.whose side are you on? Yes there has been financial incompetance so make sure those responsible are never let near a football club again call in the police if need be but when all this money is sloshing around the premier league clubs it would be nice to filter some down.GOOD LUCK BOURNEMOUTH YOU HAD A GREAT RUN AT THE END OF LAST SEASON I THINK YOU CAN GET BACK UP.COME ON YOU LEEDS!! REGARDS NICK(YORKSHIREMAN).
Actually it's twice in 10 years, the first time we met all the criteria required at the time. Can't say I'm impressed at -17 points, but considering all day I've thought that the suits at FL would make an example of AFC and refuse us our league share, I'm delighted to be playing league football next season.We're just have to start the season as we finished our last 19pts out of 21!!! Up The Cherries!!
I am a Leeds UTD fan you should of helpped us fight the bunch of pr--ks who hand out these - points. They should help clubs that are in trouble not kick them in the footballs. GOOD luck cherries. From a Leeds fan living in Bournemouth
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