Blackpool Football Club is finally going to be Oyston free, a day that many thought would never come. Owen Oyston's removal appears to be the final part of the jigsaw, a jigsaw that has, metaphorically, had its final piece missing for years.
Valeri Belokon is still owed £25 million by Oyston and this led to today's court case, a court case that would eventually deem a receiver necessary. The decision paves the way for a takeover and concerns other Oyston assets too.
Oyston himself owns 24 properties and holds shares in 6 companies. The assets of interest are those of Blackpool Football Club Ltd, previously known as Segesta Ltd, and the receiver will be tasked with organising and selling Oyston's assets. Blackpool Football Club consists of the stadium, the training ground and includes the Travelodge hotel in close vicinity to Bloomfield Road.
The two men at the forefront of the receivership are Paul Cooper and David Rubin, both of whom have experience in other instances such as the one at Blackpool. Between them they have dealt with administrations at Portsmouth, Barnet, Milwall, Crystal Palace and Coventry.
EFL chief executive Shaun Harvey spoke representing the EFL,
“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 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."
"There will be no further comment at this time.”
Valeri Belokon expressed in a separate statement that he hoped this will herald a new chapter in the proud history of this prestigious club.
This is great news for not only the club, but the town as a whole. The last 4 years of struggle have been toxic to say the least, but what today's proceedings display is football is nothing without the fans. The battle is not quite over yet in regaining stability, but Blackpool Football Club is finally Oyston free.
- Read about the EFL rulings here, including the possibility of a 12 point deduction -https://www.efl.com/-more/governance/efl-rules--regulations/section-3---the-league/
- Read what the receivers had to say - https://www.blackpoolgazette.co.uk/sport/football/blackpool-fc/blackpool-fc-high-court-hearing-receivers-release-statement-following-confirmation-of-their-appointment-1-9593777
UTP