BRISTOL and West Investments plc has been revealed today as the creditor currently applying to repossess AFC Bournemouth's stadium - even though one of their directors is also the Cherries' honorary president.

Stanley Cohen, who joined AFC Bournemouth in 2001 to raise funds for the club, is a non-executive director of the loan company and owns 28,071,429 shares - more than any of the other three directors.

Cherries chairman Peter Phillips told the Echo: "Bristol and West Investments plc have applied to Bournemouth county court for repossession of the stadium because we are in arrears in paying back their loan.

"But Stanley Cohen is using his best endeavours to try to influence them and prevent the case going to court."

AFC Bournemouth borrowed £285,000 from Bristol and West two-and-a-half years ago and has since paid them £100,000 in interest. But the annual interest rate of 13 per cent means that the amount owed has increased to £300,000.

Bristol and West Investments plc is one of five lenders whose debts are secured against the Fitness First Stadium and fans contributing to Cherryshare II can specify that their investment is used to pay back this loan.

The others are Northover and Gilbert, of which 78-year-old Cohen is also a director, Lloyds Bank, who take their interest directly out of the Cherries bank account each month and Fitness First, whom Mr Phillips described as "really good supporters" of the club.

Former chairman Tony Swaisland is also a secured lender but Mr Phillips revealed he refuses to take any interest from the club and remains happy to defer repayments until the club is in a better financial situation.

See Wednesday's Echo for a full feature on chairman Peter Phillips, his experiences since taking charge of the cash-strapped club and his hopes for the future.

First published: Sept 21