Bournemouth have come under control of a Russian billionaire.

An oil billionaire named Maxim Demin has bought half the shares in the League One strugglers for £850,000.

Demin, who lives on the exclusive Sandbanks peninsula near the Dorest town, purchased the 50 per cent stake from directors Steve Sly and Jeff Mostyn.

He will share control with chairman Eddie Mitchell and plans a redevelopment to include a hotel and a new stand at the club's Dean Court ground, plus investment in players.