High flying financier takes over at Blackpool football club

A new owner has taken over at Blackpool Football Club.

Financier Simon Sadler has also bought the club’s stadium, training ground and associated hotel business.

Mr Sadler has bought 96.2 per cent of the club and the English Football League have granted approval of the purchase.

The Official Receivers have run the club since February when former owner Owen Oyston’s 31-year reign ended in the High Court.

The club has been relegated from Premier League to League Two in six seasons amid arguments between Owen Oyston and supporters.

Fans boycotted matches in protest against the Oyston family and campaigned to have him removed.

The new owner has held senior roles in finance before setting up an asset management business, Segantii Capital Management, in Hong Kong in 2007.

Mr Sadler, who was born and educated in Blackpool, founded the hedge fund Segantii Capital.

It is claimed the hedge fund’s assets are in excess of $1bn.

He remains chief investment officer at  Segantii but is acting in an individual and personal capacity as the new owner of the club.

Executive chairman Michael Bolingbroke, managing director Ben Hatton and non-executive director Ian Currie will continue in their roles for the next few months while Sadler familiarises himself with the operations of the League One side.

Mr Sadler and Brett Gerrity will join the board as directors.

The new owner said: “It is my great honour and privilege to become the owner and custodian of Blackpool FC.

“By providing financial stability and investment over time, my intention is for the club to achieve its full potential.

“I would like to thank the joint receivers and the current board, management and staff for having chaperoned the club during this time of transition.

“I would also like to thank the fans and the wider community for re-engaging with the club after a lengthy period of turmoil.”