KARL Oyston insists there will be a legacy from Blackpool’s Premier League season and that the “very wealthy club” is in good hands.
Pool’s huge prize for their 2010-11 top-flight campaign will eventually reach £98m, and chairman Oyston stressed most of that money is still within the club and available to be used.
Oyston came under fire when club accounts revealed £11m had been paid to a company owned by his father, Owen Oyston. Segesta Ltd, the company which operates Blackpool FC and its stadium, paid £6.5m for a hotel next to the ground, while a deposit of £4,899,000 was paid to Owen Oyston for the freehold property rented to Travelodge on Bloomfield Road, followed a further £1.6m last August.
Karl Oyston said: “We are a very wealthy club, everything is bought, and paid for,” he said.
“We (the club) have a ton of money in the bank, and at the end of the month we’ll be paying £4m to the tax man on our profits. The money is available to the football club. The (Premier League) money has gone into a variety of things. We built the hotel and fitted that out. We paid out £11m to my dad.
“But everyone misses the point – it’s not (about) where the money has gone. The point is we won’t use that money to furnish the lavish lifestyles of 25 footballers or on huge transfer fees to other clubs.
“The money is within the club, apart from the £11m. We won’t change any of our policies in the way we run this club. There will be a legacy.”
When Blackpool were promoted to the Premier League, they were handed a huge prize which will eventually see £98m paid to the club.
And Oyston insists there will be a legacy left, despite the current blip.
“It’s not the first blip we’ve had as a club, and we’ve always got through it,” he said.
“This is the first time we’ve lacked real stability, two managerial changes hasn’t helped that.
“A new manager will certainly help that.
“As far as moving the club forward, it’s all we’ve ever done.
“We won’t rest until we sort it.
“We have to keep positive and keep moving in the right direction.
“But it will be at a pace which is best for the football club.
“We won’t change any of our policies in the way we run this club.”
“There will be a legacy.”
PART TWO OF THE KARL OYSTON MEETING WITH BLACKPOOL SUPPORTERS ASSOCIATION IS IN WEDNESDAY’S GAZETTE.