An EFL board meeting earlier today concluded that a 12-point deduction would not be imposed on Blackpool FC.
In much the same way as entering administration, the appointment of a receiver is viewed by the EFL board as an ‘insolvency event' which can come at a price of a 12-point deduction. Receivership was approved by the High Courts in February to regain the £25million that ex-Blackpool owner Owen Oyston owed to Latvian businessman Valeri Belokon.
The EFL board concluded “that the appointment of the receiver is not material to the club's ability to fulfill its obligations as a member club and as a result should not be regarded as having suffered an insolvency event, meaning a 12-point deduction is not applicable”.
The Seasiders currently occupy eighth place in League One but could have been dragged into one of the largest relegation dogfights in the leagues history if they had been slapped with an EFL ruling. Paul Cooper one of Blackpool's two receivers expressed his pleasure at the result from Thursday's hearing:
“I am delighted for Terry McPhillips and the players because they now know exactly where they stand for the remainder of this campaign and next season”. It will also allow, according to Cooper “for the sales process to continue with a greater degree of clarity and certainty over the clubs position following the EFL's ruling.”
Paul Cooper and fellow receiver David Rubin claimed the tangerine army have been subject to over 60 expressions of interest with regards to the takeover of the club.
A club statement welcomed the EFL's decision stating the “Board of Blackpool Football Club is delighted the English Football League has confirmed there will be no points deduction following the appointment of Court Appointed Receivers on February 13 2019”.
It is news that will further lift the spirits of the Tangerine Army, whose four-year boycott was finally lifted in February with the long-awaited announcement ending the Oyston's controversial reign at Blackpool.
OLLIE FLOOD / Photo: PA Images
