Ex-Toon Coach Hit With 10-Point Deduction!
Business recovery firm Begbies Traynor have been appointed to run the club, who are reported to be around £4million in debt.
Cherries chairman Jeff Mostyn put an end to weeks of speculation surrounding the club's financial state by making the announcement at a noon press conference held at Dean Court.
On the field, the deduction comes as a severe blow to the Cherries' survival hopes.
Already 22nd in the table, the penalty will result in them sinking to the foot of the table, 11 points adrift of safety.
Ironically, one of the teams to benefit will be tomorrow's league opponents, Luton - the other side to have entered administration this season.