Blackpool Owner Owen Oyston Forced to Pay £25m Owed to Ex-Director Paving Way for Potential Takeover

Controversial Blackpool owner Owen Oyston has been forced by the High Court to pay the £25m he owes former director Valeri Balekon, potentially paving the way for a takeover of the League One side.

The club have been "put into receivership" by the High Court, forcing the Oystons ownership group to pay Balekon what he was owed from their £31.27 buy-out of the director in November 2017.

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Per BBC Sport, such a ruling could pave the way for a long-awaited takeover of the club, after a sustained effort from the club's fans to boycott the club's games in protest at the owner's disastrous spell in charge. 

However, in less positive news, the English Football League will now decide whether the Seasiders' should be docked 12 points. According to regulations, as per the BBC's report: "Any club that becomes subject to an insolvency event, including the appointment of a receiver, could be deducted 12 points."

And, in an official statement, as quoted by the Blackpool Gazette, EFL chief executive Shaun Harvey admitted the governing body will convene next month to decide their fate. 

He explained: “The EFL notes today’s developments in regard to Blackpool Football Club following the hearing in the High Court.

"The matter will now be considered by the EFL board at the earliest opportunity (March 6 – next board meeting) and we will be seeking an early meeting with the receiver so as to ensure that the best interests of the club can be jointly considered against the context of our regulatory framework.

"There will be no further comment at this time.”