Bournemouth transfer news: Big January plans for Gary O’Neil with new owner ready to release significant funds

Gary O'Neil, interim manager of Bournemouth during the Premier League match between Nottingham Forest and Bournemouth at the City Ground

Bournemouth boss Gary O’Neil is set to be handed a mammoth transfer kitty in January to boost their Premier League survival bid, with  TEAMtalk able to reveal exactly how much cash the Cherries boss will have at his disposal.

O’Neil was confirmed as Bournemouth’s permanent manager over the weekend after 12 games in charge as interim boss.

The 39-year-old has impressed Bournemouth officials during his interim spell in charge despite the club considering a move for former Leeds boss Marcelo Bielsa. Ultimately, however, their move for Bielsa broke down with O’Neil landing the job on a full-time basis. And TEAMtalk was able to reveal the reasons behind the Cherries’ failure to land the highly-regarded Argentine.

Former Portsmouth and Middlesbrough midfielder O’Neil has guided Bournemouth to four wins, four draws and four defeats durin his time in charge.

That leaves them 14th in the Premier League table, three points above the relegation zone.

However, they will need to maintain that sort of form in the second half of the season to ensure their time in the Premier League can be extended.

To that end, TEAMtalk understands that incoming new owner Bill Foley is preparing to provide O’Neil with substantial funds to strengthen the squad in the January window now the managerial situation has been finalised.

Foley to release significant transfer funds for Bournemouth

Las Vegas-based businessman Foley has agreed a takeover deal of Bournemouth after buying the club from long-standing owner Maxim Demin. That deal is to be finalised in the coming weeks following a lengthy directors and owners test by the Premier League.

And once his buy-out is confirmed, we can reveal O’Neil will have around £30m to spend on his squad as he looks to mastermind their survival.

O’Neill is reportedly keen to bring in several new faces in January, including a new centre-back, two midfielders and a striker.

READ MORE: Pundit tips Tottenham man to move to Bournemouth in January window