Blackpool to be sold as Owen Oyston ordered to pay £25m to former co-chairman and points deduction looms
The club has been put into receivership to be sold so that Valeri Belokon can be paid the money the Oystons owe him
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A High Court ruling has effectively brought the controversial reign of Owen Oyston at Blackpool Football Club, to an end after a receiver was appointed to force the owner to pay the £25m that he owes to former co-chairman Valeri Belokon.
Belokon’s lawyers successfully battled for a receiver to be put in place, who will facilitate the sale of Oyston’s assets, plus properties of Blackpool Football Club Ltd. The company formerly known as Segesta Ltd who own the club, Bloomfield Road and the club’s training ground.
Blackpool, who are eighth in League One, could face a 12-point deduction by the English Football League (EFL) due to the appointment of a receiver.
Paul Cooper and David Rubin, who both have experience working as administrators at football clubs, are tasked with enforcing the judgement.
Cooper said: “David Rubin & Partners are only too aware of the history of Blackpool Football Club, the central part the club plays in the community and the emotions involved for those supporters dedicated to securing its future.
“This has obviously been an unsettling period in the club’s history. But in this time of uncertainty, the joint receivers will be doing everything in their power to keep the fans informed of relevant developments.”
There are few occasions when the news of a football club’s future being cast into legitimate danger has heralded such praise. The news has come as a delight to Tangerine fans who may feel inclined to return to the stadium now the Oyston saga has reached a resolution.
In November 2017 a high court ruled that Oyston must pay £31m for the shares of the club’s minority shareholder, Valeri Belokon and Oyston claimed later that Belokon declined the chance to take over the club for £5m.
Ownership of the club by Oyston predates the fit and proper persons test introduced in 2004.
The EFL will “consider” the situation at their next meeting.
“The EFL notes today’s developments in regard to Blackpool Football Club following the hearing in the High Court.
“The matter will now be considered by the EFL Board at the earliest opportunity (6th March – next Board Meeting) and we will be seeking an early meeting with the Receiver, so as to ensure that the best interests of the Club can be jointly considered, against the context of our regulatory framework.”
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