KEVIN Bond can step up his search for a striker after being given the green light to add to his threadbare squad by Cherries' new owners.

Sport-6 partner Paul Baker has confirmed to the Daily Echo that the club's transfer embargo has been lifted following the return the Football League share.

But despite claiming boss Bond has been given "one of the biggest" budgets in League Two, Baker has also stressed the club must "live within our means".

Baker told the Daily Echo: "There is no embargo but all the clubs coming out of administration have to get their transfer dealings rubber-stamped by the Football League. They want to see sight of everything to make sure we can afford it.

"There is also a 60 per cent wage capping on players in League Two but we aren't at that level. We have set the manager a budget for the season and it will be one of the biggest in League Two.

"As long as the Football League were happy and we were happy financially, we would have room to manoeuvre in the transfer market but I also know the manager hasn't spent the budget he's been given anyway.

"He's being very sensible about it.

"He's waiting to make sure he gets the right players. He doesn't want to go spending the money willy-nilly and he knows what his priorities are."

Baker, formerly a director of Chester City, added: "I've spent a lot of time around League Two and I know a lot of other directors within the League Two structure.

"That's how I know the budget we've set will be one of the biggest.

"But as I've said from day one, we need to be financially prudent and we will. If we were getting 8,000 or 9,000 through the gate every week then obviously we would have more money to spend.

"We've budgeted on gates of 4,800 over the course of the season so we've got to be sensible. We're coming out of administration and must live within our means."

Baker and his Sport-6 partner Alastair Saverimutto concluded a deal to buy AFC Bournemouth from administrator Gerald Krasner in June.

And following the transfer of the Football League share at the end of last week, the club is on the verge of exiting administration, with Krasner's departure imminent, according to Baker.

Baker added: "He's got some tidying up to do with the CVA and if that hadn't been imposed, he probably would have gone by now. He's got to do what's needed from a legal point of view so it's going to take a little bit of time yet.

"Old-co is effectively put to bed and new-co now owns and runs the football club. The money from season tickets and gate receipts, which has been ring-fenced, effectively comes into new co's bank account and we should get it imminently."