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Sure, but he'll still own his 48% if the Oyston's don't buy it off him, as ordered

Interesting stuff. From a Blackpool perspective then, either the Oyston's will own all the club, and be poor & pissed off; or Belokon will own all or half the club, but not be allowed to run it. I hope they get their Dick Knight soon, I'm sure they will

Thanks for your replies. I've re-read the whole thread to make sure I don't ask anything else twice! This bit then........ If the Oyston's manage to find the money, they will effectively own all the club. If they don't find all the money, Belokon could presumably agree to take the Oyston's...

Do the Oystons not have a majority share in Blackpool?

I can't imagine there is any restriction on where the money comes from - they own the club, they can sell it, they own the ground they can sell that. I wouldn't be surprised if the Oyston's follow a scorched-earth policy from here, especially if they are going to end up bankrupt regardless.

Yep, or they could wind up the club, selling off the assets - players, ground, equipment. That may not cover the debt, but they could do that first and then declare bankruptcy; rather than declare bankruptcy and surrender the club as a going concern. If they claim they will raise the money by...