Russian businessman Maxim Demin completes Bournemouth deal

Russian businessman Maxim Demin is now officially the co-owner of Bournemouth after completing the exchange of finances, the club have confirmed.

Former directors Steve Sly and Jeff Mostyn agreed to sell their 50% share of the club to the 41-year-old petrochemicals trader a fortnight ago.

Chairman Eddie Mitchell and Demin are now equal partners at Dean Court.

Fans are hoping that the new investor will inject cash into the playing squad and the development of the stadium.

Last month, Mitchell revealed that the club were attempting to buy back Dean Court, which they sold in a sale-and-leaseback deal to London property company Structadene.

Bournemouth have also recently submitted plans for two full-sized and two five-a-side pitches costing about £400,000 on currently unused land next to Dean Court in Kings Park.

The new pitches are part of the Cherries' ambitious plans for the stadium, which include a £6m stand, new 5,000-seater enclosure at the South End, hotel, spa complex and offices.

Manager Lee Bradbury, whose team lost 6-0 at Brentford in the Johnstone's Paint Trophy on Tuesday night, has also recently added to his squad by signing forward Charlie Sheringham and defender Simon Francis.