Oyston faces final deadline this week in Blackpool cash saga

Don’t miss the latest football news and gossip from leagues in England, Scotland and Europe with footballwire.co.ukFriday could be pivotal as The Gazette understands that Owen Oyston has promised he will have the money available on that day to pay Valeri Belokon the £25m he is still owed following the High Court judgement last November.

Oyston contacted the Latvian through his daughter Natalie Christopher, the club’s chairwoman, last month to appeal for more time and to inform Belokon the cash would be available by April 6.

Should Oyston miss the deadline, Belokon intends to plough ahead with legal enforcement action, through his lawyers Clifford Chance, to recoup the outstanding money by selling off Oyston-owned assets.

It is understood Oyston has yet to finalise a loan to pay off Belokon, one which would leave him with crippling repayments of around £400,000 a month.

The Gazette can also reveal Oyston texted Belokon directly on Monday, when it is understood he made an improved offer involving the football club.

It is not known if Belokon responded, but it is believed the Latvian has no interest in negotiating until the money is paid in full.

Oyston’s lengthy text message included further references to the club entering administration should the situation not be resolved soon.

Speaking to The Gazette last month, Oyston claimed Belokon has no interest in taking over the football club and is only interested in reclaiming his money.

The club’s former president has spent a substantial sum in a bid to overturn his EFL suspension, which currently prevents him from holding high office at an English club .

It is understood the EFL is currently studying documentation submitted by Belokon’s representatives.

It emerged last month that Oyston had offered to walk away “for free” by handing the club over to Belokon as payment of his debt.

The proposal, which was put to Belokon’s lawyers at the start of February, included Bloomfield Road, the club hotel and the Squires Gate training ground.

Belokon’s representatives confirmed to The Gazette the offer was declined due to Oyston’s valuation of the club being “clearly not good enough”.

Oyston claims Belokon never formally replied, saying the Latvian treated his offer with “nothing but contempt”.

Oyston also claimed that two separate buyers are interested in bidding for the club but any potential takeover is being “held up” by the current situation with Belokon.

Oyston, who was ordered by a High Court judge to pay Belokon £31.27m in total, has had five months to sell the club but remains in charge.