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View Full Version : Former Blackpool chairman Karl Oyston in bankruptcy hearing



Gazer
20-08-2010, 08:31 AM
When the 43 old-year stood down as chairman and director of the newly promoted club, it was believed it was in protest at a lack of support from his Premier League peers over his hard-line attitude to agents. He will be stopping at Bloomfield Road as acting chief executive until the end of the season or untill a replacement is identified.

But Lancaster County Court confirmed yesterday that a judge was considering bankruptcy papers involving Oyston. The club last night declined to comment, but under league regulations he would not be able to continue as chairman or as a director if he were to be declared bankrupt.
Both positions are subject to the revamped fit-and-proper-person’s test – now known as the Owners and Directors Test – which applies to directors or anyone wishing to take a 30 per cent stake in any club, though chief executives are exempt.
Oyston, son of the club’s majority shareholder Owen, remains in charge of the day-to-day running of the club; he spent yesterday discussing terms with Bournemouth striker Brett Pitman over a proposed ?500,000 move, and he has been granted the unequivocal support of manager Ian Holloway.
“For this club not to have him involved in it is ridiculous and he will be here, doing the same job,” he said. “It might be a different title, but he is yet to talk to me about it and I do not really care, because I would not have signed with this club if he was not going to be doing the things that he does. I am sure he will do them, whatever title he has got or is given. This place won’t change and neither will I.”
Oyston made it clear upon promotion that he would resign rather than compromise the parsimony that has marked his time at the club. He has remained true to the ?10,000-a-week wage ceiling he imposed in the Championship.
Though he and Holloway are thought to have clashed last week over the policy, the former QPR and Plymouth manager yesterday defended Oyston’s refusal to risk Blackpool’s long-term financial health in the battle to survive.
“He is just not prepared to play these games,” he said. “He is just concerned about the players and doing a far deal for the club and for the player. I’m not trying to make another monster and these lads get too much too early.
“They behave wrongly and they do not have the profile a professional footballer should.”

Hmmm so there you are......we could have a take over bid coming soon.

9749

Gazer
20-08-2010, 08:48 AM
IAN HOLLOWAY This Morning dramatically threatened to quit Blackpool as a shock bankruptcy probe rocked the club.


The Seasiders were stunned on Wednesday when chairman Karl Oyston resigned, claiming he was driven out by greedy agents.

But last night it emerged Oyston is facing a bankruptcy hearing at Lancaster County Court.

If declared bankrupt, Oyston would fail the Premier League's 'fit and proper' test and be banned from running the club.

Oyston's business interests have always been paired with those of his father, Owen, who handed control of the club to him while serving a jail sentence 11 years ago.

The family businesses cover farming, publishing and property management and are worth around ?100million.

Oyston, who will serve as managing director until the end of the season, has been criticised for his reluctance to splash the ?90m promotion jackpot.

But boss Holloway has said he is ready to follow him out of the door.

While confirming the signings of Israeli defender Dekel Keinan from Maccabi Haifa and Bournemouth striker Brett Pitman, Ollie was unaware of the latest revelations about the man who hired him last year.

He said: "The day he leaves is the day I will have to consider my future, because it is all about our relationship.

"That is nailed down - as it was last week when everyone said I was leaving! We are like the Men in Black zapping the aliens together. Bosh. Zap.

"Part of my contract is linked to him. I'm totally confident if I lost 8-0 to Chelsea he would not have an itchy finger."

Well its all starting to come out into the open.........My Mrs as now got her head in her hands and her dreams are starting to die.