Krasner was appointed as administrator in early February

A consortium led by businessman Marc Jackson has won the race to take over Bournemouth after a bid fronted by the club's chairman fell through.

Jackson and chairman Jeff Mostyn both tabled bids for the club and initially it seemed Mostyn's group had won.

But a statement from the administrators said, on closer inspection, "it was apparent it was not acceptable to the joint administrators".

They added: "As a result, Mr Jackson's bid has been accepted."

Jackson has until Monday evening to lodge the money into a bank account, and no further announcement will be made until all the legal documentation has been completed.

We then later received a call from Mr Mostyn wanting to clarify one or two matters Administrator Gerald Krasner

Administrator Gerald Krasner explained to BBC Radio Solent the chain of events which led to the Jackson bid being declared the winner.

"Both parties as agreed put in final best bids by 2pm," he said.

"We then considered them and on the face of it, by a very small margin, the Mostyn consortium appeared to be the best bidder.

"We phoned both the bidders and told them what had happened. We then later received a call from Mr Mostyn wanting to clarify one or two matters.

"Having discussed it at length with him, it was apparent that his understanding and my understanding was slightly different and that his bid could not proceed.

606: DEBATE Let's hope this one finally sees our club safe but we must ask the question what on earth are the administrators up to CWND

"He had paid his �100,000 deposit and as a result of that his bid has lapsed and the MJ consortium bid have been notified that they're successful and that we are now proceeding to do all the legal paperwork to move this forward."

A previous Mostyn-led bid to buy the Cherries had been accepted by administrator Krasner by way of a Company Voluntary Agreeement (CVA), but it was withdrawn after Jackson left the consortium because of "contractual issues".

As it happened, the CVA was defeated on Monday because HM Revenue & Customs voted against the deal.

However, the tabling of the two bids on Monday ensured the south coast club will see out the season without having to sell any players.

Bournemouth, who have debts of �4m and had faced liquidation, entered administration in early February.

Under Football League rules, the move cost them a mandatory 10-point deduction and plunged them into the League One relegation zone.