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Can't Pay - We'll Take It Away

SeasideEssexXile said:
Stewart confirms it this morning:

Paul Stewart confirms he is fronting consortium that has bid to buy Blackpool FC from Owen Oyston
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The Gazette columnist Paul Stewart has confirmed he is involved with a consortium looking to take over Blackpool Football Club

Former Blackpool star Paul Stewart has confirmed to The Gazette that he is fronting a consortium that has lodged a bid to buy the club from Owen Oyston.
READ MORE: Valeri Belokon's application to appoint Court Receiver to recoup £25m still owed by Owen Oyston to be heard in High Court next month

It emerged in The Mirror last night that the former England international was involved with an as yet unnamed firm that has previous experience of football takeovers.

Speaking to The Gazette, Stewart confirmed discussions were at a very “early and delicate” stage but expressed surprise at the deal being made public as well as some of the inaccuracies in the reports.

“I’m not going to deny I’m involved,” Stewart admitted to The Gazette.
“This has gone on for a few weeks after meeting with the guys to establish who they are and if they are experienced in this sort of thing, which they are.
“I understand they came to me because they know about my connection to the town. I’ve lived here for 35 years and I have a strong connection to the place.
“I’ve obviously got an affiliation for the club too despite not going to games for a while due to the situation.


“If I can help make a change in anyway then I would love to be involved with that.
“My concern is how long it is until the club goes into administration, which is surely not appealing to anyone. Hopefully we can get around the table and stop that from happening.”
Stewart confirmed the group are looking to take control of the club and would not entertain the notion of Oyston remaining involved in any form.
“I would walk away from the deal if that were to happen,” he added. “We would be foolish to even entertain that.


“I have not talked to Owen about the deal and I do not expect to, either.

“I’ve spoken briefly to Blackpool Supporters’ Trust and I told them I hope they are able to get behind this.
“They have worked so hard to get to where they are and hopefully they will support this deal with the same energy to try and make a change.”
The Gazette columnist started his career at Bloomfield Road before going on to star for Manchester City, Tottenham, Liverpool, Sunderland and Stoke.
The 54-year-old, who played for Blackpool for seven years, still lives on the Fylde coast and has strong links to the area.

The Mirror claims the bid, which was tabled last Wednesday, has already got guaranteed funding from a commercial finance firm.
As expected, any deal is complicated by the 2017 High Court ruling which sees Oyston still owing more than £25m to former club director Valeri Belokon.
A three-day window for a court date has been agreed for next month to discuss the possibility of Belokon’s lawyers appointing a Court Receiver.
It is also claimed the group will offer Belokon the chance to stay on as an investor. Stewart confirmed to The Gazette that he would be willing to hold discussions.
Stewart was unable to provide any more details about the reported deal due to the early and sensitive nature of discussions.
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Terry Pritchard is teh money man behind this
 
Tangerine dreams of a takeover may be coming true Football finance specialist Terry Pritchard is the man behind a Paul Stewart-fronted consortium trying to buy Blackpool from current owner Owen Oyston. The Tangerines have been on the market for more than a year and is currently losing about £2million a season, mainly because a large section of Blackpool’s supporters have been boycotting the club since 2016 in an attempt to force 85-year-old Oyston to sell. The Mirror newspaper reported on Saturday that former England player Stewart, who started his career at Blackpool and still lives in the area, has been approached by a consortium of businessmen to lead their takeover bid, with a “commercial finance firm” providing the funding. Press Association Sport can now reveal that firm is Charter House Corporate Partners, the London-based lending specialist Pritchard set up in 2016. The 54-year-old has a long track record in football, having helped to finance takeovers at Bolton, Portsmouth and Sheffield Wednesday, as well as working with AFC Wimbledon on their new Plough Lane stadium. Speaking to Press Association Sport, Pritchard said this particular takeover attempt “is in its infancy” and admitted he has been aware of several previous attempts to buy Blackpool from Oyston. But he said this consortium is “interesting because they have credibility, knowledge of the club and seem to have the ear of Valeri Belokon”, the Latvian banker who was Blackpool’s co-owner and chairman during the club’s rise to the Premier League. They are now in League One. Belokon is crucial to any solution to Blackpool’s problems, as he is still owed £25million by Oyston, following their bitter legal dispute over what happened to the club’s Premier League windfall. Having fallen out with Owen Oyston and his son Karl, the club’s ex-chief executive, when he discovered they had paid themselves huge bonuses and salaries after Blackpool’s sole season in the top flight in 2010/11, Belokon took the pair to court and won. The court decided he was owed £35million in November 2017 and, so far, the Oystons have only paid £10million of that sum, having missed several deadlines for the rest. Belokon could have asked for a court order to seize Blackpool at almost any point in the last year but has chosen not to until now, as his lawyers have a court date next month to discuss the appointment of a receiver to sell the Oystons’ assets. It is unclear, though, if he will proceed with this course of action, because he would not currently pass the English Football League’s Owners’ and Directors’ Test, owing to a money-laundering and tax evasion conviction he received in Kyrgyzstan in 2017. Belokon, who has not responded to PA’s attempts to contact him, has always denied those charges, saying the prosecution was politically motivated, but there have been no updates on his attempts to persuade the EFL that his conviction should be ignored. This has hugely complicated the situation at Blackpool but Pritchard believes there is a way out. “They are not a lost cause at all – I have seen clubs in far worse financial positions,” said Pritchard. “Blackpool are worth £10-12million and there is no reason why it can’t become a good investment, providing you get the gates back up again and you use the stadium and its hotel better, with concerts and other sports events. “The key is to come up with a package that will give Belokon something up front but also an annual dividend going forward. I think he wants to stay involved with the club but not in a hands-on way and I suspect the EFL would allow that. “I don’t know if the deal will come off, Owen Oyston is still a factor, but I have provided the consortium with proof of funds and they are definitely talking to Belokon.”
 
Latest from VB:

A spokesperson for Valeri Belokon has confirmed there has been "several contacts" regarding Blackpool Football Club but insists the Latvian is not currently considering any offers.
 
I just think the long, drawn out process with OO has damaged his interest in the club Whitey old chap! I hope I'm proved worng....
 
SeasideEssexXile said:
I wouldn't blame him, but until he gets his £ I reckon he is keeping his cards close to his chest not wanting to give OO any sign of his intentions around the club.
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I have to agree, Belekon is cunning and astute. He will want to get his timing right like all good business men. he will only walk away if there is no advantage, hence the dirty biased EFL and all their crap included. Never the less, being a good judge of character based on a mans actions, I believe he is interested and true to his word. Don't forget though, he has been let down very badly by the worst of the worst, so any thing after, surely must be a boon ? He took a chance, I believe he will take a better one.
 
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Latest from Paul Stewart on the consortium from yesterdays Ggeerrrzzzetttttttte:

I am using my column this week to clarify my position regarding the news that leaked out last week.

As I’m sure everyone knows, I – like many other fans – have abstained from attending any matches at Bloomfield Road.

I have done this in support of the fans who have demonstrated and petitioned against the current owners of the club.

I can confirm that a consortium has approached me with a view to acquiring the club, and for the avoidance of doubt, this consortium does not involve anyone from Blackpool or the Fylde coast, which has been suggested to me in various conversations over the past week.

I would also like to make very clear that the consortium, who have released a statement this week via the Press Association , have no appetite to negotiate with the Oystons or anyone connected with them.
If any takeover can be achieved this will be discussed via Mr Belokon and/or his associates.
Charter House Corporate Partners, who are London-based, have brokered deals involving Bolton, Sheffield Wednesday and Portsmouth among others.
Everyone is acutely aware of the upcoming court hearing and we have no desire to stall any applications that are to be considered in three weeks’ time; therefore any suggestions that this might happen are without foundation.


I also would like to confirm that I am in constant dialogue with Christine Seddon from Blackpool Supporters Trust.
I understand that they have worked tirelessly to depose the current owners. I am fully supportive of what they have achieved thus far and I will also keep the Trust informed of any developments.
It’s important supporters understand anything I am looking to do is in the best interests of Blackpool FC.
I have no ulterior motive. I first came and played at Squires Gate at 10 years of age. I enjoyed 11 years at the club from 10-21, after which I moved to Manchester City.


I have lived in the town for more than 35 years and class Blackpool as my home town; in no way do I want to inhibit the process that is looking inevitable.

However, I would like to state that, should the court-appointed receiver be installed in three weeks, then we have to be prepared for a 12-point deduction and possible relegation to League Two.
This is a distinct danger and I have had clarification of this, so we should consider this when the application has been granted but, if this could be avoided, then surely all attempts should be explored.
The consortium that would be funding the deal are experts in the football arena.
I am confident that if we can work with Mr Belokon, then we can bring the fans and community together, give them their club back and secure the long-term future of Blackpool FC.


However, with the likelihood of a court-appointed receiver being appointed in three weeks, the process of buying the club will be more difficult and there will likely be a number of interested parties that will want to acquire the club for its assets.
This may not be in the best interest of the club and its fans and certainly won’t help the manger and players who have done remarkably well considering the circumstances.
Furthermore the acquisition will become a lottery.
It would be fantastic if I receive the backing from the supporters in my bid to secure the purchase of Blackpool FC, as I can assure you that I have the best interests of the club at heart.
 
nodrogaty said:
I have to agree, Belekon is cunning and astute. He will want to get his timing right like all good business men. he will only walk away if there is no advantage, hence the dirty biased EFL and all their crap included. Never the less, being a good judge of character based on a mans actions, I believe he is interested and true to his word. Don't forget though, he has been let down very badly by the worst of the worst, so any thing after, surely must be a boon ? He took a chance, I believe he will take a better one.
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