Skip to main content

New hope at Blackpool

Blackpool fans are hoping that there will be a regime change at Blackpool after the Oystons lost a High Court battle with Valeri Belokon and have been ordered to buy him out for £31m: Blackpool court case

In his ruling, Mr Justice Smith said the Oystons had "abused their majority powers to the detriment" of both Mr Belokon and Blackpool FC. The judge commented, 'Mr Karl Oyston was an argumentative witness, who gave speeches rather than answering questions. I found him generally incapable of answering a question straightforwardly.'

Justice Smith ordered the Oystons to pay £10m to Belokon within 28 days; their assets to be frozen while a timetable for the full amount was decided.The Oystons’ £26.77m payments to their own companies was described by the judge as 'illegitimate stripping of Blackpool FC'.

Blackpool Supporters' Trust chair Christine Seddon told the Blackpool Gazette: 'It’s a momentous day for the football club. We need to keep calm but I really think this is the start of our new future. Where do we go from here? Well their assets have been frozen, so what are they going to do now? I really feel this has got to be it.'

'I can’t realistically foresee any way they can keep hold of the football club. They have to find that staggering amount of money to hold on to a football club that is haemorrhaging money on a weekly basis and will continue to do so until they’ve gone. So what have they got to hang around for now? I feel hopeful that this has got to be the trigger now and they are on their way out of the door.'

It has to be said that the Oystons have always taken an obdurate stance in terms of hanging on to the club.

Labels:

Comments

Post a Comment

Popular posts from this blog

Wolves get raw deal from FFP

  I used to see a lifelong Wolves fan for lunch once a month.   He was approaching ninety, but still went to games.   Sadly he passed away the other week. As football finance guru Kieran Maguire has noted, Wolves continue to be constrained by financial fair play rules.  Radio 4 this morning described them as this year's 'crisis club' and the pessimists have certainly been piling in. Martin Samuel wrote sympathetically in the Sunday Times yesterday, saying that the Premier League drives talent away with regulatory red tape: 'Why could Al-Hilal sign Neves? Because Wolves needed the money. And why did Wolves need the money? Because the club had to comply with an artificial construct known as financial fair play. So Wolves are going skint, yes? No. There is no suggestion that Wolves are in financial trouble, only that they are failing to meet the rigours of FFP. Wolves’ owners appear to have the money to run the club, and invest in the club, and in fact came up with a pow
Post a Comment
Read more

Gold standard ground boosts Tottenham's income

The gold standard in European football grounds is the Tottenham Hotspur stadium in north London, a £1bn construction project completed in 2019. Its impact on the club’s finances has become increasingly clear as the effects of the pandemic have faded. Previously, the average fan would spend less than £2 inside the ground on a typical match day, but now that figure is about £16, thanks to new facilities including the longest bar in Europe and an on-site microbrewery. Capacity has gone up from 36,000 at the club’s previous home of White Hart Lane to 62,000.  The new stadium — built on land adjacent to White Hart Lane — has opened the door to a broad range of other events that have helped to push commercial income up from €117mn in 2018 to €215mn in 2022. Last year, Tottenham hosted US singer Beyoncé for five nights on her global Renaissance tour, two NFL matches, as well as rugby games and heavyweight boxing bouts.  Money brought in from football has gone up too. Match day income is
Post a Comment
Read more

Charlton takeover approved

The long awaited takeover of Charlton Athletic by SE7 Partners from Thomas Sandgaard has been approved:  https://londonnewsonline.co.uk/se7-partners-obtain-efl-approval-for-charlton-athletic-takeover/ Charlton have had unhappy experiences with owners for over a decade, so how this works out will remain to be seen.  There is certainly potential there, but will it be realised? This interview with Charlie Methven gives detail not available elsewhere:  https://thecharltondossier.com/charlie-methven-on-the-record/
Post a Comment
Read more