Representatives for Valeri Belokon have confirmed to The Gazette that Owen Oyston has offered Blackpool Football Club to the Latvian.
It follows reports in a national newspaper that Oyston has taken his “first steps” in relinquishing control of the club by offering to walk away for free by handing over control to Belokon.
The Daily Mail has reported the proposal also included Bloomfield Road, the club hotel and the Squires Gate training ground.
The offer was made via a letter addressed to Belokon’s lawyers, Clifford Chance.
The Mail claim Belokon verbally rejected the offer twice.
It is understood the Latvian wants a portion of the remaining £25m he is owed plus the club on top as way of payment.
Representatives for Belokon declined to comment on the reports when approached by The Gazette, although they did remark the offer was “clearly not good enough”.
The Mail claims Oyston has privately admitted he must sell Blackpool as a way of making up the £25m he still owes.
Owen Oyston and Clifford Chance have also been contacted for comment.
While this is certainly another step towards regime change at Blackpool, there is still some way to go until new owners are in place.
Belokon remains suspended by the EFL but, as the Latvian confirmed to The Gazette last week, he is currently working with the game’s governing body to overturn his ban - which currently stops him from holding high office at an English club.
Blackpool supporters are due to meet with the EFL tonight to discuss their concerns over the situation at their club.
Fans have already protested outside the EFL’s headquarters and have set up a petition calling for an independent regulator to be introduced.
These latest developments follow the momentous High Court judgement in November, where Belokon was awarded £31.27m after a judge found the club had been “illegitatemly stripped” of funds following its promotion to the Premier League in 2010.
Belokon, the club’s former president, is still owed in the region of £25m after it was found he had been ‘unfairly prejudiced’.
Bailiffs were sent to Bloomfield Road as well as Oyston’s Quernmore Park Hall earlier this month to begin legal enforcement in a bid to make Owen sell his assets.