Blackpool’s board thought it had enough to deal with when it lost their then chairman Owen Oyston to a prison sentence in 1996, but now, in their first year of premier league football, they have had a chairman declared bankrupt and a manager threatening to quit.
Blackpool as a club is owned by the Oyston family and when Owen Oyston was convicted of rape over ten years ago, the club was eventually passed down to son Karl.
Karl Oyston is no mug however, he has perfectly managed Blackpool’s speedy transition into the prem. He’s redeveloped Bloomfield Road (which if you ever went there before you will know is a good thing), introduced a club wage cap and with savvy finances and investments managed to propel the club to the top tier of English football whilst staying in the black.
So how does he end up going bankrupt? Well, he didn’t, that’s what doesn’t add up. Karl Oyston was declared bankrupt on the 18th August this year having stepped down as chairman of Blackpool shortly before to avoid any damage to the club. He became the “Acting Chief Executive” until a replacement was found. Since then, his bankrupcy has been “annulled” in October as if it was never declared.
But why were there bankruptcy hearings in the first place if only for them to be absolved? Oyston was a member of The Times rich list in 2008 with a £105million fortune, it’s baffling to consider a man that has managed the finances of not only his football club, but also in his other business ventures so well, could now be facing bankruptcy. The question that seems to have not been answered is who declared the bankruptcy and why.
Various Blackpool message boards have been flooded with bizarre comments in response to the hearings. Multiple users have thrown in thier own suggestions to why this mess has occurred.
One user, Orinoco, commented on such a thread “it’ll be that greedy ex-wife of his and the divorce” to which another user commented “Orinoco be very careful pal.”
Furthermore on the Blackpool gazette website, in response to the original bankruptcy announcement there were a host of comments from fans referring to “the divorce”.
There is a shroud of uncertainty surrounding the Lancashire club at the moment which may leave fans a little anxious. But given that Oyston’s bankruptcy has been revoked and yet he is still only “acting” chief executive, it certainly puts a question mark over the future ownership of the club.
Oyston publically promised funds and continued support to manager Ian Holloway following his bankruptcy declaration. Following the turbulent events since, it will be interesting to see what moves are made come January.
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