Blackpool’s Oyston will walk away

OWEN OYSTON has taken steps to finally relinquish control of Blackpool by offering the club to Valeri Belokon. Belokon, the former club president, is still owed in the region of £25million after a lawsuit for ‘unfair prejudice’ following years of acrimony as a result of their one season in the Premier League. Oyston faces selling off family assets in a bid to stump up the cash and signing for a loan at an eye-watering interest rate. The 84-year-old has privately admitted he must sell Blackpool and, as a way of forgoing paying the £25m, has offered to walk away for free. His proposal included Bloomfield Road, the club hotel and the training ground at Squires Gate. Latvian banker Belokon is working with the EFL to overturn a director disqualification.

Sportsmail understands Oyston’s offer is not deemed good enough by Belokon, who wants some of the £25m.