Chairman Eddie Mitchell has confirmed the completion of a new investment deal at League One Bournemouth. Contracts for the 50% share in the Cherries, previously held between Jeff Mostyn and Steve Sly, have been agreed with a mystery buyer.
The club will not name the investor, reported to be Russian businessman Maxim Demin, who has come into the south coast club as co-owner alongside Mitchell and his wife Brenda - each of whom have a 25% stake in the club.
A statement on the club's website read: "Cherries chairman Eddie Mitchell has confirmed the necessary exchange of finances for the purchase of Steve Sly and Jeff Mostyn's shares in AFC Bournemouth has been completed."
Fans are hoping that the new investor will inject cash into the playing squad and the development of the stadium.
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.