Overseas-based businessman 'backing takeover bid for Blackpool FC'

The bid, which is being fronted by the former chairman of another EFL club, has been in talks with the Oystons for several months but is being held up by the ongoing unrest.

When asked if there is any update on the sale, a club spokesman said there is no change to November's statement that the "Blackpool Football Club Limited and Blackpool Football Club Properties Limited are on the market".

The only real bid on the table is understood to be from the overseas-based Briton, who wishes to remain anonymous at this point, and his partners.

With many fans boycotting the club in protest against the Oystons, Blackpool are fighting to stay in League One after last year's promotion.

Despite earning significant revenue from a hotel and other tenant businesses at Bloomfield Road, the club are still losing £2million a year, thanks to the poor gates and lack of sponsors.

The interested party believes the club would break even if attendances return to an average of 10,000 and is proposing to slash season tickets to £200.

It would also sell the club's dilapidated training ground and move to a new council development near the airport, as well as selling some houses at Bloomfield Road.

It is also understood the bidder is keen to work with Valeri Belokon and would like to involve the Blackpool Supporters' Trust.

The news comes after Karl Oyston was replaced as the club's chairman by his half sister Natalie Christopher.

Documents filed by Companies House confirmed Karl's departure from the board after 19 years at the helm, a week after it was revealed he had left his director role at another 11 Oyston-run businesses.

Christopher, 32, is the owner and publisher of Lancashire and North West Magazine and daughter of Blackpool owner, Owen Oyston.

She was appointed to the club's board last month.

"Mr Karl Oyston is no longer chairman or director of the club, or any other Oyston Group company," said a club statement.

"The club will make no further comment at this time."

It follows rumours that Owen and Karl are said to be at loggerheads over the future direction of Blackpool Football Club.

It is understood relations have completely broken down between the two, with Owen wanting to keep control of the club while Karl was reportedly prepared to wash his hands of it.

The Oystons missed Wednesday's deadline to pay Valeri Belokon his second £10m installment and must now return to the High Court on Monday to hear if their application for an extension will be approved.

Normunds Malnacs, the man the Oystons blocked from taking Belokon's place on the board last year, said the Latvian is willing to give them "a week-long extension with certain conditions" but no longer.

One possible solution is the judge will simply hand the club to Belokon, as part-payment, although that is complicated by the fact he failed the EFL's owners' and directors' test last year after his conviction in Kyrgyzstan for money-laundering and tax evasion.

Belokon denies any wrongdoing and his representatives say the verdict was politically motivated. It is understood his status in English football is also under review.