Court paves way for end of Oystons at Blackpool
Posted on 14th February 2019
Blackpool has been put into receivership by the High Court, paving the way for the sale of the club and the end of the Oystons’ ownership.
Yesterday Mr Justice Marcus Smith at the High Court in London ordered the club into receivership so it can be sold – with the proceeds used to pay off some of the £22m owed by the Oyston family to the Latvian Valeri Belokon.
Blackpool fans who attended the High Court welcomed the ruling and Blackpool Supporters’ Trust (BST) say they have already spoken to the court-appointed receivers about the sale of the club.
“There are many issues to cover,” Blackpool Supporters’ Trust said today. “BST would like to reassure all Blackpool fans that we are currently taking advice on the next steps for our football club.
“We are all eager to return to Bloomfield Road and so we ask for your patience while we establish exactly what the situation is regarding the finances at the club and confer with other fan groups.
“We will update you all as soon as possible in the next few days and we look forward to planning our return together.”
Back in 2017 the Oystons were found by the courts to have “illegitimately stripped” the club of more than £26m and were ordered to pay that sum, plus the £4.5m cost of his investments in the club to Belokon – so far only £10m of that has been repaid.
The court-appointed receivers Paul Cooper and David Rubin said they would keep supporters abreast of developments in the club’s sale.
“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,” they said.
“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.”
By entering receivership, Blackpool could face further sanction from the EFL, including a possible 12-point deduction. The EFL is due to discuss the case at its next board meeting.
Thanks to PA Images for the image used in this article.