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

It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent. The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion.  Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs.  An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’...
Post a Comment
Read more

Reports about Charlton sale exaggerated

Reports have appeared in The Guardian and elsewhere that Charlton has been put up for sale. Richard Cawley is an authoritative local journalist who runs a South London Sport substack site.  He reached out to the club yesterday evening to ask for comment on The Guardian’s article. Early indications from the club have been that nothing has changed since the story about them seeking investment, except that it is now a different company doing it. Charlton have since managed to consolidate their place in the Championship, avoiding an instant return to League One, with their women’s side promoted to the WSL, returning to the top flight for the first time since 2007, although staying there is likely to be costly. It would be counter-intuitive for owners Global Football Partners not to progress the club when looking for investment, that the focus remains on driving it forward, that their spend this summer is in line with long-term planning and will see an increase in wages spent on players...
Post a Comment
Read more

Hull City's 'strange' loan

When football finance guru Kieran Maguire seems flashing lights in a club's loan deal, I become concerned.  He is the leading football finance expert in the UK. Hull City have borrowed £55m against their stadium and training ground yet they should get £30m from the Premier League before long.  What is going on? https://www.bbc.co.uk/sport/football/articles/cpwel48y51do
Post a Comment
Read more