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Blackpool: High Court appoints receiver over £25m owed to Valeri Belokon

Blackpool: High Court appoints receiver over £25m owed to Valeri Belokon

Blackpool finished 12th in League One last seasonBlackpool have been put into receivership by the High Court, forcing owner Owen Oyston to pay ex-director Valeri Belokon the £25m he is owed.The ruling could pave the way for a takeover, but the English Football League must now decide whether to dock the League One club 12…


Blackpool finished 12th in League One last season

Blackpool finished 12th in League One last season

Blackpool have been put into receivership by the High Court, forcing owner Owen Oyston to pay ex-director Valeri Belokon the £25m he is owed.

The ruling could pave the way for a takeover, but the English Football League must now decide whether to dock the League One club 12 points.

Oyston, 85, was ordered tobuy Belokon out for £31.27min November 2017.

The EFL said in a statement that they will “consider the matter” at their next meeting on 6 March.

Chief executive Shaun Harvey said: “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.”

According to EFL regulations, any club that becomes subject to an insolvency event, including the appointment of a receiver, could be deducted 12 points.

The receiver will be asked to discharge some of Oyston’s assets, plus those of Blackpool Football Club (Properties) Ltd, which owns the football club, stadium, training ground and nearby Travelodge, reported theBlackpool Gazette.

Oyston, who bought the club in 1988, claimed last year that Belokon had refused the opportunity totake over Blackpoolfor £5m.

The Latvian businessman, who bought a 20% stake in the Tangerines in 2006, isdisqualified from club ownershipafter being given a 20-year jail term in Kyrgyzstan for “money laundering, tax evasion and dishonesty” in his absence in May 2017.

He subsequently failed the English Football League’s Owners’ and Directors’ Test in September 2017.

Despite this, Belokon said in April he was working with the EFL to reverse the decision to disqualify him because it ignored“basic principles of natural justice”.

Blackpool are eighth in the third tier but a 12-point deduction would leave them just two points above the relegation zone.

A large section of the club’s supporters have boycotted matches and held protests against the Oyston family for several years over their running of the Lancashire club.

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