Why Simon Sadler’s takeover means Blackpool FC are Oyston free for good

Neither Valeri Belokon or Owen Oyston have any shares in Blackpool FC
Neither Valeri Belokon or Owen Oyston have any shares in Blackpool FC

Prior to Simon Sadler’s takeover, many Blackpool fans had expressed concern about the 20 per cent of shares that were still owned by Valeri Belokon.

READ MORE: 12 things you need to know about new Blackpool FC owner Simon Sadler

That’s because, if/when Owen Oyston ever settled his outstanding High Court debt with the Latvian, that share would have technically transferred to the club’s despised former owner.

Back in November 2017, the Oystons were ordered to buy out former director Belokon for £31.27m after it was found they had illegitimately stripped the club of cash following promotion to the Premier League in 2010.

Several fans commented how they felt reluctant to purchase season tickets until the matter was resolved.

However, today’s announcement has put those concerns to bed once and for all, with the receiver confirming Sadler had acquired a 96.2 per cent of the club.

That suggests that Sadler has come to some sort of agreement with Belokon to transfer the Latvian’s shares into his control.

Even if Oyston manages to find the cash to pay off Belokon, he will still have no stake in the football club - bringing a permanent curtain down on his 31-tenure.

The remaining 3.8 per cent belong to the minority shareholders, who are supporters.

Rose 123 Investments, the company set up by Sadler last month, has now been confirmed as a business with significant control in the football club.

The Gazette has contacted Valeri Belokon's representatives for comment.