Blackpool FC sale latest: New owner within a month after four serious bids

The court-appointed receiver is now considering the bids received for Blackpool FC
The court-appointed receiver is now considering the bids received for Blackpool FC

Blackpool FC’s new owner is expected to be in control by mid-June.

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It’s understood four serious bids have been submitted and it is now the receiver’s job to consider these and determine the most appropriate way to conclude the sale.

Hong Kong-based businessman Simon Sadler and Henry Teh, an investor from Singapore, are thought to be the frontrunners.

Teh, executive director of Global Ports Asia, met with Blackpool’s fan groups last week alongside Tim Williamson.

Williamson is CEO of investment partner TWG Global, which has a UK office near Longridge and a base in Malaysia.

Global Ports Asia describes itself as an “international developer, management and investment company” with headquarters in Singapore.

It focuses on developing infrastructures linked with ferry terminals, cruise terminals, marinas and airport businesses.

It is claimed Teh is also interested in purchasing Blackpool Airport and The Gazette understands his group held talks over the purchase the Blackpool FC while Owen Oyston was still in charge.

Sadler, meanwhile, is the founder of asset management firm Segantii Capital, a hedge fund with assets said to exceed $1billion.

The businessman, who was born in Bispham and regularly watched games in the 1980s, was at Bloomfield Road for last month’s match against Peterborough United.

Others reportedly interested are former Swansea City chairman Huw Jenkins and Fleetwood Town owner Andy Pilley.

Jenkins, who stepped down from his role at the Liberty Stadium in February, was said to be fronting a group.

Pilley’s interest is complicated by the fact he would have to relinquish control of Fleetwood by either selling it or transferring it.

Transferring ownership of the club would cause a headache for the EFL, while a sale would have to be completed much more quickly than usual.

It has been rumoured that Pilley would look to install his son Jamie as chairman of Fleetwood.

In March the receiver revealed there had been 59 expressions of interest in Blackpool FC. The club was placed into receivership in February, when the High Court instructed Paul Cooper to raise the funds to settle Oyston’s outstanding debt to Valeri Belokon.