'Exciting times ahead!': Blackpool FC chairman welcomes Simon Sadler to Bloomfield Road

Blackpool FC's executive chairman Michael Bolingbroke

Simon Sadler announced as new owner of Blackpool Football Club

The lifelong Blackpool fan has purchased 96.2 per cent of the shares in the club as well as 100 per cent of the hotel.

Sadler's takeover has already received approval from the High Court and EFL.

The 49-year-old held senior roles in finance before setting up an asset management business, Segantii Capital Management, in Hong Kong in 2007, where he remains Chief Investment Officer.

Bolingbroke, along with Ben Hatton and Ian Currie, will continue in their roles for the next few months while Sadler familiarises himself with the operations of the club.

Tim Fielding will remain as an advisor while his close friend Brett Gerrity, a Poulton-based lawyer, will also join the board.

“We are very pleased to welcome Mr Sadler as our new owner and Mr Gerrity as a board member," Bolingbroke said.

"Mr Sadler is investing in a club with undoubted potential and his investment will benefit not just the first team squad, but also help improve the club’s training facilities and academy programme and will actively assist in the club’s re-engagement with the Blackpool community.

"Exciting times are ahead!”