BST launch £16m bid for Blackpool FC - updates

Blackpool FC's Bloomfield Road
Blackpool FC's Bloomfield Road
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We bring you the latest as Blackpool Supporters Trust reveal announce their bid for Blackpool FC.

10:45am: Steve Rowland, chairman of BST: “If Owen Oyston really does have the best interest of Blackpool FC at heart he will see this as a perfect chance to bring to an end a toxic situation. This is an financially sound offer for Blackpool Football Club.”

10:35am: The bid is for parent companies of Blackpool FC, Segesta Limited, Segesta Properties Limited, Blackpool Football Club Limited and Blackpool Football Club Hotel Limited. The deal would see assets Quernmore Park Hall and Travel Lodge hotel return to the Oyston family, as well as writing off loans which are owed back to the club.

10:30am: Blackpool Supporters Trust have made a proposal to Blackpool Football Club to buy the club for £16m.

10:15am: Still awaiting details of the bid, it is expected to involve a proposal to takeover Blackpool FC’s holding company Segesta Limited.

10:00am: Media begin to arrive here at the Hilton, a table with a huge BST flag behind it.

9:37am: It’s expected there will be a few media outlets at the press conference this morning, with Sky, BBC and ITV all expected.

9:30am: Today’s bid will probably be the start of a very long process for the Supporters Trust, I think they fully expect this bid to be rejected by the Oyston family.

9:20am: We’ll be at the Hilton Hotel on Blackpool Promenade shortly to bring you the latest as BST launch their bid to buy Blackpool FC. Follow our updates here.

9am: Blackpool Supporters Trust will today make a “substantive and serious” offer to buy Blackpool FC.

Much has been said about the potential fan takeover bid since The Gazette revealed BST’s plans almost four months ago.

And after weeks of drawing up their proposals, the fans’ group will today officially deliver their bid and reveal the people behind it.

While the bid is so far shrouded in secrecy, full details will be disclosed this morning before an official proposal is hand-delivered to Bloomfield Road for the attention of Owen Oyston.

Steve Rowland, chairman of BST, said: “BST’s bid to buy Blackpool FC from the Oyston family is a serious and substantive proposal, which we expect to be taken seriously by the owners.

“The only serious option to improve the prospects of the club requires the Oystons to relinquish control of, and indeed any association with, Blackpool FC.

“There is nothing that the supporters are more serious about than the safeguarding of the football club.