The 20-year-old left Liverpool for £15m this week.
The Cherries broke their transfer record to sign the 20-year-old winger, whose time at Anfield has obviously run out.
Some Liverpool fans might be sorry to see him go, having showed glimpses of what he can do, but the glimpses were not strong or regular enough to convince manager Jurgen Klopp that he can be an asset this season it seems.
Nicol, who spent 14 years at Liverpool, cannot fault the German for selling him and believes that £15 million is a good price considering Ibe remains relatively unproven in the Premier League.
"I think basically what's happened is Klopp has seen enough of him to know that he's not good enough, or he doesn't have time to wait on him," he told ESPN.
"Klopp has to get results and Ibe obviously isn't going to be a part of that, so £15m is a good price."
The writing might have been on the wall for Ibe for a couple of weeks, after Klopp went out and splashed £30 million on bringing Sadio Mane in from Southampton.
His days were arguably numbered since Mane's arrival and they have already recouped 50% of that hefty fee. It seems good business all round for Liverpool, who visit Arsenal on the first day of the Premier League season on August 13.