Bournemouth are looking for new investors after businessman Adam Murry failed to come up with the finances to buy into the League Two club.

Murry was named co-owner on 31 December after agreeing a deal with majority shareholder and ex-chairman Paul Baker.

But Cherries chief executive Alistair Saverimutto told BBC Radio Solent: "Paul is inviting new potential investors to talk.

"To do that, we had to make it clear to Adam that he had to step down."

Murry told the Daily Echo newspaper in Bournemouth that he will continue his own search for investors to resurrect the deal.

Saverimutto said: "If he comes up with anything at a later stage, he'll be listened to and it will be discussed on its merits.

"I believe the club have every opportunity to see out this season on a positive financial footing."

Bournemouth went into administration in February 2008 and were docked 10 points by the Football League.

They were relegated at the end of the 2007/08 season and began life in League Two on minus 17 points after again falling foul of the League's insolvency rules.

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