Receiver Paul Cooper has welcomed the news that Blackpool Football Club will NOT be hit with a 12-point deduction.
The reprieve comes after the EFL’s board met this afternoon to discuss the club’s case, following the appointment of a receiver by the High Court in February.
Under EFL rules, the appointment of a court receiver is deemed ‘an insolvency event’ in the same way administration is, and carries the threat of a 12-point deduction.
However, the decision was discretionary and the EFL have opted against imposing the punishment, which had threatened Pool’s League One status.
A club spokesperson said: "The board of Blackpool Football Club is delighted the English Football League has confirmed there will be no points deduction following the appointment of court appointed receivers on February 13, 2019.
"Joint receivers, Paul Cooper and David Rubin, in conjunction with the board have been in close contact with the EFL and have provided information and documentation which allowed the EFL to reach its decision."
Receiver Paul Cooper added: “This is excellent news for everybody connected with the club and especially its supporters.
"I am delighted for Terry McPhillips and the players because they now know exactly where they stand for the remainder of this campaign and next season.
“It also allows the sale process to continue with a greater degree of clarity and certainty over the club’s position following the EFL’s ruling.”