Blackpool owners lose court case against Latvian businessman
Nov. 06, 2017
LONDON (AP) — A Latvian businessman has won a court case against the owners of English soccer team Blackpool over the running of the club following its promotion to the Premier League.
A judge ruled that the Oyston family had shown unfair prejudice against shareholders by excluding them from key decisions, information and share of profits.
Valeri Belokon, who runs a company — VB Football Assets — that is a minor shareholder in Blackpool, brought an action against the Oystons.
The judge said Monday that Blackpool must buy out VB Football Assets' shares in the club. Britain's Press Association valued them at 31.27 million pounds ($41 million).
Blackpool was promoted to the Premier League in 2010 for the first time and was relegated after one season. The team is now playing in England's third tier.