OYSTONS REELING AT £31m DAMAGES DECISION
BLACKPOOL’s controversial owners, the Oyston family, were ordered to pay a former director an astonishing £ 31.27million yesterday.
Latvian Valeri Belokon, the president credited with funding Blackpool’s improbable rise to the Premier League in 2010, won substantial damages awarded by a high court judge in London.
Belokon claimed ‘unfair prejudice’ after not being taken into financial consideration by Karl and Owen Oyston, who he accused of running the Seasiders ‘like their own personal cash machine’ in moving £42m to other companies over four years.
On a seismic day, Justice Marcus Smith strikingly said this amounted to the ‘illegitimate stripping of Blackpool by the Oyston side’.
The sheer size of the damages presents the real prospect that the Oystons, who have consistently treated their own supporters with contempt, may be forced to sell.
Karl Oyston is the chairman fined £40,000 by the FA for labelling one fan a ‘massive retard’. Sources told
Sportsmail that Owen Oyston — recipient of an infamous £11m salary in 2011 — was left ‘shellshocked’ last night. It is understood one of their largest properties is being auctioned at Bloomfield Road tomorrow as the family scramble for funds. They will take their case to the Court of Appeal.
The judge ruled that £10m must be paid within 28 days and Alan Steinfeld QC, acting for the Oystons, warned that administration or liquidation could follow.
Belokon even admitted his surprise at the amount awarded and told Sportsmail he is willing to buy the League One club with another investor, but stressed his continued involvement is uncertain.
‘We’d like to see what the situation is now. We should wait for around a month,’ said Belokon. ‘It’s possible. If Owen and the family want to do something bad for the club, they could. Something cold. The fans would like them to leave.
‘I’m here and I believe we have a great future. We need to see the situation. It depends on the amount they want.
‘I need another partner. I’d like to come back to this situation. I shouldn’t give a promise but I should be honest.’