Blackpool enter receivership ahead of sale but risk 12-point deduction

13 February 2019 06:42
• EFL undecided about whether to impose points penalty• Millions still owed by the Oystons to Valeri BelokonBlackpool have been put into receivership so that they can be sold and the proceeds used to pay off some of the £22m owed by their owners, the Oyston family, to the Latvian banker Valeri Belokon, a court has ordered. EFL rules state that if a club suffers “an insolvency event”, which includes the appointment of a receiver, it receives a 12-point deduction, but the league has not yet determined whether that penalty will be imposed in this case.The receivership of the club, an associated company and other assets owned by Owen Oyston and his son, the former club chairman Karl, was ordered after a high court hearing heard that the money is still owed to Belokon. Related: Blackpool divided before Arsenal’s FA Cup visit as fan boycott rumbles on Twitter: follow us at @guardian_sport Continue reading. . read full article

Source: TheGuardian