Russian owner Maxim Demin is rarely seen but victory at home to Liverpool in the FA Cup would undoubtedly raise his profile

Liverpool’s southward trek to the 12,000-capacity confines of Bournemouth’s Dean Court ground seems to promise a classic FA Cup fourth-round hazard for a Premier League institution, playing a doughty small-town club dreaming of a glorious long shot. Yet a glance at where Bournemouth currently compete in the Football League will surprise many who instinctively associate the club with long-suffering crowds in the third tier and perennial financial wreckage.

The Cherries are in the Championship, only the club’s second stint at that level in 90 years of Football League membership, the previous short visit being 1987-90, during Harry Redknapp’s tenure on the first rung of his managerial ladder. Bournemouth have twice collapsed into insolvency since, first in 1997, then 11 years later, and after starting the 2008-09 season in League Two with 17 points deducted for failing to agree a company voluntary arrangement (CVA), just scraped clear of relegation to the Conference.

So for Bournemouth, and their young manager and former player Eddie Howe, whose first season in charge and still finest achievement that was, hosting Luis Suárez, Steven Gerrard and Liverpool’s other stars is a landmark of startling progress. “I’m not going to play it down,” Howe acknowledged this week. “This is a really special game for us.”

An articulate strategist noted for developing young players, Howe steered Bournemouth from that close escape up to League One the following season, then after a brief stint in charge at Burnley, returned to win Bournemouth promotion last season to the Championship’s heights. Crowds around 10,000 are, for Bournemouth, close to extraordinary.

Yet sunny as this story is of Bournemouth leaping free of existence-threatening fragility, the romance in the tale goes only so far. This is modern football after all, and while the chairman Jeff Mostyn, in his own second stint, praises Howe as “the best manager outside the Premier League”, the man most responsible for the club’s turnaround is far less visible.

Bournemouth’s new Russian owner, Maxim Demin, 44, described as a petrochemicals trader, does not give press interviews, and not a great deal is known about him, his businesses, or how he made his money, even at Bournemouth. Mostyn, a Mancunian financial services businessman living locally, sold his half of the club to Demin in 2011, and says he has seen evidence that Demin has “vast wealth” and having worked with him now, “professionalism, honesty and integrity”.In September Eddie Mitchell, the former chairman who ran into trouble for a confrontational approach to supporters and was in March 2012 fined £1,500 by the Football Association for swearing in a radio interview, sold his 50% to Demin too.

Mitchell, a builder, originally introduced Demin to the club, after being contracted to build the Russian a house on Sandbanks, the famously expensive Poole harbour peninsula.

Demin is not actually resident there mostly; he lives in Switzerland, whose clear air and low tax is favoured by many Russians who grew rich post-communism. Demin’s only UK company, Wintel Petrochemicals, is ultimately owned by a trust registered in Guernsey, the tax haven.

Mostyn says Demin is a football fan, who enjoyed watching matches and soon decided to make the club his project. Bournemouth company documents show £7m has been invested in return for preference shares, but Mostyn says Demin has put “a lot more” money in than that, although he declines to say how much. “The plan is to take the football club to the Premier League, and Maxim Demin has the financial ability to do that,” says Mostyn.

Yet the club quietly believe they can upset Liverpool this afternoon, with Howe recalling the history-making 2-0 defeat of Manchester United in the third round in 1984, have not splurged their new millions on name signings. Mostly Howe fields young players, blended with some experienced heads, including the defender Elliott Ward, signed from Norwich City, goalkeeper Lee Camp from West Ham United, and notably the former Leeds United and Irish international left-back Ian Harte, now 36.

Mostyn argues they have managed their nouveaux riches sensibly, the club record £2.3m signing in August of the South African striker Tokelo Rantie from Malmo being by far the most paid. Matt Ritchie, 24, an addition to the midfield last January who proved key to winning promotion, cost £400,000 from Swindon Town. Harry Arter, 24, the former Charlton trainee who was playing for Woking in Conference South when Howe signed him in 2010, said he was worried at first that Demin’s money could see him displaced, but he is instead looking forward to contesting the Dean Court midfield with Gerrard.

“We’ve often seen clubs taken over by rich owners sign marquee names for the level they’re at. But money hasn’t been thrown around here like some people think, because Eddie Howe’s passion is for seeing young players develop. Instead good players have come, all the lads work for each other and there is a really good feeling. I never thought I would see this at Bournemouth.” Howe, only 36 himself, who has spent time observing Brendan Rodgers and describes the Liverpool manager as “inspiring”, said of this moment: “It’s a chance for glory. We’re obviously aware of Liverpool’s strengths but I want our players to express themselves. We might lose the game, but I want everyone to feel that Bournemouth play good football, and are a good team.”

Mostyn says that the signings and higher wage bill have pushed the club to the £8m loss permitted this season under the Championship’s financial fair play rules. He complains the Championship is intensely competitive while being financially imbalanced by massive parachute payments to clubs relegated from the Premier League, and warns Demin could become “frustrated” if his spending and ambitions are too constrained.

That, more financial freedom for a rich owner, is for Mostyn to argue in the league’s internal meetings. For now, Bournemouth can relish hosting Liverpool for a very modern version of FA Cup romance, which needed a Russian multi-millionaire to make it happen.

• Bournemouth
• FA Cup
• Liverpool

David Conn

theguardian.com