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Owen Oyston seeks clarification from Blackpool supporters trust

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Owen Oyston has called on Blackpool Supporters' Trust to clarify several proposals in their takeover bid before he can consider their £16 million leveraged buyout further.

BST outlined its plans for gaining control of the Sky Bet League One outfit earlier this month in response to growing fan disenchantment at the Oyston family's handling of affairs at Bloomfield Road.

Despite receiving no response from the Oystons before the July 21 deadline, owner Oyston told BST he was mulling over their bid last week and he has now posted a detailed reply which includes several queries he wants answered.

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BST's leveraged bid would have left the current owners with several assets connected to the club but Oyston has questioned the manner of their plan.

"The following queries are simply to clarify and establish the facts and should not be taken as an indication of my answer to your proposal which I have been discussing for some time with my professional advisors," Oyston said.

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"Is it true that you are not putting in one penny of new money into the club?

"Is it true that on behalf of BST your proposal is that I GIVE YOU, not sell to you, all my shares in Segesta Limited which brings with it all Segesta's assets which includes the majority shareholding in Blackpool Football Club Limited which you would then control, bank balances with millions of pounds in cash, Bloomfield Road Stadium and its land and many other assets together with the substantial guaranteed income streams generated from these assets?

"Did you realise that many of these assets were built by new money from me and my family and later from (Blackpool president) Valeri Belokon in a joint 50-50 investment venture with me. This was at a time when the club did not have the resource to carry out any developments, was penniless and had a long history of losses. So, in your proposal, are you including these assets also?"

In the letter, Oyston goes on to ask for 10 "further queries" to be addressed by BST before he is able to "take your proposal seriously", with a 14-day deadline set for their response.

He asks for clarification on BST's five-year business plan, whether prior approval has been gained from the Football Association and Football League over a possible takeover and confirmation that Latvian board member Belokon is on board with their proposals.

Oyston also takes umbrage with BST's assertion that he bought the club for ?1 in 1987, stressing that he contributed "multi millions of pounds" to the Tangerines' cause over 24 years.

Oyston concluded: "In the interests of the future of our club and our fans I have to ensure whoever takes responsibility for this institution is qualified to do so and able to finance and run it for another 27 years through both good and bad times.

"I hope you will see from our serious approach to your proposal that I am, as requested by you, treating it with every respect."

"Providing you are able to give a full and frank response to the questions set out above I will make a decision within days of your response after discussing it with the directors of both companies and our professional advisors."

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Topics:
Championship
Blackpool
Football

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