The immediate financial security of troubled League One club AFC Bournemouth has been assured. In the latest twist in Bournemouth's drawn-out sale, Gerald Krasner, the club's administrator, announced at a press conference today that Jeff Mostyn, the former chairman, had provided him with £80,000 to keep them afloat.

Krasner revealed Mostyn had not been behind one of the latest two bids to buy the club, but he is now the preferred bidder after neither of the consortiums had provided the former Leeds chairman with deposits by yesterday's noon deadline.

The south-coast club were docked 10 points in February after entering administration and have been in the League One relegation zone.

However, a remarkable run of six straight wins has taken them to within one point of safety and if they can better Cheltenham and Gillingham's results in Saturday's final round of games they will have achieved safety.

Krasner said: "As a result of the substantial sum he (Mostyn) gave me yesterday the club will now go forward to the end of the season with no problem. I know that's only a week away, but bearing in mind what's happening on the football field I want to keep things as smooth as possible.

"As a result of that money Mr Mostyn is now a preferred bidder with total exclusivity and I will have no further dealings with any other third party because it's obvious to me that when push comes to shove Mr Mostyn has been the only guy to have written a cheque to keep the club alive."

He added: "The club was in danger of collapsing immediately after the last match; it isn't any more. I've got to stay confident, but I think one way or another this will get sorted."

Krasner revealed his frustration at the two unnamed parties' failure to keep promises made to him as the Cherries' sale took its latest twist.

"When people make promises they don't keep you can get very cynical about it all, but some of the promises that have been made in the last week and not been kept have pushed that to new heights," he added. "Some people in the football dealings world as opposed to playing, have lost a lot of credibility with me."

The League One side had previously been set to be bought by EU UK Ltd earlier this month but a deal collapsed at the 11th hour.