Blackpool FC claim they are ‘deeply hurt and disappointed’ by relegation to League Two, admitting ‘mistakes’ have been made.
It comes less than 24 hours after the Seasiders suffered their second relegation in as many years, now in the Football League’s bottom tier for the first time in 15 years.
And in a statement released on Monday afternoon, the Oyston family offered apology for the situation.
“Everyone at Blackpool Football Club is deeply hurt and disappointed to have experienced relegation to League Two,” it read.
“The board takes full responsibility for the position we now find ourselves in.
“An urgent board meeting has been called to discuss the club’s future and implement plans to halt further decline.
“Mistakes have been made in the last few years and we continue to pay for some of them, whilst learning from others.”
Pool’s 5-1 hammering at Peterborough yesterday saw them relegated by four points this season, with manager Neil McDonald expected to offer his resignation this week.
It’s prompted another barrage of criticism from supporters who have questioned the club and the direction it is going in.
By the Oystons claim they have made changes this season.
The statement added: “The club virtually overhauled its playing squad last summer and changed its philosophy on contracts to ensure longer-term stability, while investing in younger players to develop.
“Although the policy hasn’t immediately come to fruition in terms of results on the pitch, the nucleus of a young side remains and the rebuilding work starts immediately to make a swift return to League One.”
Blackpool’s relegation to the bottom tier couldn’t have come at a worse time financially, with the Premier League parachute payments now a thing of the past.
With that in mind, Pool will now have to work within the Financial Fair Play rules which limits the amount a club can spend on wages, in relation to turnover.
They added: “There are financial implications that apply to competing in League Two next season and we must comply with Football League rules.
Operations will now be reviewed over the summer, however there is a determination to bounce back and achieve the results required with the right personnel to deliver this.
“The board does not underestimate the challenge ahead and will now re-focus its energies to rectify things on-the-pitch and try to repair some of those off it, whilst sadly accepting that some of the issues may not be curable.
“We look forward to working closely with the club’s supporters to begin a positive resurgence.”