From OO, Open letter to VB - Read this now! | Vital Forums

From OO, Open letter to VB - Read this now!

SaskPool

Vital Football Hero
#1
In an open letter dated 7th February 2018 to Valeri Belokon through his solicitors Owen Oyston made the following proposal:
“[Owen] will transfer to [Valeri Belokon] (or to such companies or nominees as [he] directs) the shares in [Blackpool Football Club] and the stadium owned by BFCP. This will include Blackpool Football Club Hotel LTD, all the assets within the stadium including the income from the serviced accommodation, the car park adjoining the stadium and the training ground …
This proposal if accepted will hopefully end the turmoil and uncertainty and prevent BFC going into administration.
Owen Oyston is sacrificing his interest in BFC in order to ensure that BFC has a smooth transition, which will be in the best interests of the fans of BFC, the Town of Blackpool and the Fylde Coast, and so that BFC can once again move forward. Owen Oyston’s principle concern is to see BFC strong again.

After receiving no response to his proposal, Owen now wishes to release the following open letter to Valeri Belokon:
‘Dear Valeri,
I did not receive a reply to the [7th February 2018] letter. As you know and which information is public knowledge:
1) Your solicitors have frozen the bank accounts of the Oyston Group of Companies.
2) Your solicitors have taken nearly £1million from my personal banking account even though I undertook to use that money exclusively to fund Blackpool Football Club.
3) Your solicitors have refused to permit any part of the revenues from the proceeds of the sales of my assets to be used to fund the club.
These factors amongst others are damaging the development of the club.
Your expert valuers during the court case when we were in league 2 valued the football club at between £49 million - £56 million which took into account some intercompany loans but even taking these into account the club was substantially over valued. However now we are in league 1, the value must have increased significantly over and above its league 2 value.

Offer
I now offer you, Valeri, because of my love for Blackpool Football Club all my shares in the club which would give you total control for a payment of £5 million, or this £5 million could be offset against the debt owed to you. This means that you would not need to find any monies to acquire my shares. This offer is on the condition that you undertake to fund the football club and to make sufficient investment to see Blackpool Football Club with a secure future and to advance up the league tables.
Now is the final opportunity to show your regard and affection for the club. You have consistently told the fans that you love the club and that you are coming back. Now is your opportunity to be as good as your word.
I await hearing from you.
Owen’


OWEN AND VALERI HAVE RECENTLY MET AND ARE CURRENTLY ENGAGED IN NEGOTIATIONS TO TRY AND BRING TO AN END THIS LONG RUNNING SAGA IN THE INTERESTS OF ALL PARTIES INCLUDING THE LONG SUFFERING FANS.
Brief Club update:

  • BFC tried hard to keep Gary Bowyer. Gary parted company with the club on good terms and in a good spirit. In his own words in the club’s press release, Gary said: ‘It has been a pleasure to manage Blackpool Football Club over the past two years…’ Gary wanted to spend time with his family and he assured us that he didn’t have any other club to go to.

  • We have signed nine new permanent players, four loan players and re-signed three of our existing squad and are still searching for strikers. Last night we signed Donervon Daniels, who played for us before in The Championship.

  • A new groundsman has been appointed over the summer and has done a solid job in preparing the pitch for the match tomorrow.

  • All legal cases relating to and under the control of Blackpool Football Club have been dropped.

  • The Academy has had great news and has been awarded the rights to once again operate a Category 3 Academy. The Academy already runs teams from under 9s – 18s. There are 13 members in the Academy team with additional support staff of over 25. The Academy under 18s reached the semi-finals of the FA Youth Cup last year, losing to Arsenal, and were the League and Lancashire FA Youth Cup winners the previous year. They are in the top three for Category 3 teams for producing players signed to the 1st team over the past four years.

  • The Community Trust goes from strength to strength and touches and helps the lives of large numbers of adults and children in our community. Blackpool Football Club is proud to be able to offer our stadium and accommodation free of charge to this amazing and ever expanding charity.
Sale/Investment Progress:
  • It is a hard challenge to discharge a judgement debt of £34 million imposed by the court although over £12million has already been paid to Valeri Belokon or his solicitors.

  • There has been much interest in the club but many of the parties did not have proof of funds or the track record to take Blackpool forward. However serious buyers emerged with multi-million or billionaire status and have expressed ongoing interest in the club but have refused to engage in negotiations until the judgment debt has been settled and the club has returned to near normality. They do not wish to get involved or caught up in a high-profile conflict and so they are waiting in the wings to progress still their serious interest.

  • In the interim period Owen has kept the Football Club afloat as there is no one else to pay the wages.
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SaskPool

Vital Football Hero
#3
Looks like you are correct SEX, it does not include the ground etc.

I'm trying to work out the math:

OO owes VB approximately 25 million

OO would still owe VB 20 million if this offer was accepted. Is that right?
 

Hastings

Vital Football Hero
#6
This is still a web of uncertainty and deceit. No ground and how much are shares worth in a company losing money? I guess not £5m maybe <£1m??
 

bfcpete

Vital Football Hero
#7
In effect he is trying to offload the loss making club for VB to finance and valuing it at £5m. And as others have said, it doesn't include the training ground, stadium and other assets owned by BFC Properties (Segesta) together with his shares in Wyndyke. All of those would be required to meet the oustanding debt. In fact It does not make sense anyway because his shares in BFC are actually owned by Segesta, so you would have to transfer the latter.
It smacks of a desperate O who is running out of cash and options. And he certainly wouldn't be making such a rambling and confusing statement at all if he really had a realistic deal available via Disley.
We really do need to hear from VB who really needs to turn up the heat on O now
 

nodrogaty

Vital 1st Team Regular
#9
Not trying to put the onus on Belekon while playing the good guy role is he ? I don't remember a good guy Owen back in the prem days. Truth is, he's stuck with the losing cards. He's offering Fk all as usual.
 

aussie1

Vital Reserves Team
#11
If Belekon is serious he would come back with a counter offer to also include the ground and the training ground.
What do you think, would be a fair total sale price?? £12 million?? :clown:
 
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bfcpete

Vital Football Hero
#12
If you included the club (virtually worthless on its own, especially as it is losing over £2m a year and needs massive investment on both the squad and the non-playing infrastructure), stadium (needs investment and including what was a loss making hotel), training ground (virtually worthless because it has no facilities on it, not even water for the pitches or a plumbed in toilet and changing rooms), the Travelodge (which has a £5m loan charge against it) and Quernmore Hall, then I think you would be very, very lucky to get to £15m. You would need additional cash from Wyndyke or elsewhere to get anywhere near the £25m+ still owed to VB.
O latest 'offer' is actually worse than what he has offered before and VB needs to start the auctions to make O see sense. The statement by O smacks of desperation and there's a rumour on AVFTT that Disley's investors may have pulled out
 
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aussie1

Vital Reserves Team
#14
This surely must come to an end soon ....
The end is almost nigh if Belekon is true to his word, that he loves BFC. I think Belekon, just like OO, is playing a very tactful game and not showing his cards until OO sees he is on a certain loser by holding out any longer and stacks his cards. Other interested parties won't come to the party unless OO goes and they can get supporters back on side. I honestly, can't see this going on for another 6 months. If it does, our Club may go into administration and all that goes with it.
 
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SeasideEssexXile

Vital Football Legend
#15
VB said he didn't want to harm the club, IMO the longer he remains silent damage is being done.
A statement of anything whether it be I want my money and I'm off or I do want dome involvement in the club will do, either way the silence is worrying as well as deafening.
 

nodrogaty

Vital 1st Team Regular
#16
VB said he didn't want to harm the club, IMO the longer he remains silent damage is being done.
A statement of anything whether it be I want my money and I'm off or I do want dome involvement in the club will do, either way the silence is worrying as well as deafening.
VB has time on his side, OO doesn't. The longer it goes on the more desperate Owen gets. I doubt the senile delusional old fool will see sense, so it needs to be taken off him, I hope I'm wrong. VB could just walk away, so we have to accept this as a possibility also. I can see it getting worse before it gets better.
 

bfcpete

Vital Football Hero
#17
VB needs to pull the trigger, go to auction asap (he should have already) to finish off O or force him to do a sensible deal, not the nonsense he has put on the official site
 

Hastings

Vital Football Hero
#18
Legal stuff mostly on hold now until October as we know. If anything is going to happen it will be OO imploding and I just don't see him doing it. I've been saying it for a long time whilst he's there he will twist and turn and nothing will be easy. We heard how vSport were still interested and couldn't do business with him
 

nunu

Vital Squad Member
#19
Administration and liquidation is how I see it because the club itself is worthless but the land its on is ripe for a developer. God I hope Im wrong!
 

Hastings

Vital Football Hero
#20
Is the land really valuable. I'd love it if VB took the shares and left OO with a useless ground. I wouldn't mind playing at cods or Fylde for a year

Oo can't afford to let the club go into liquidation
 
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