Blackpool FC fan buys club

Simon Sadler, a lifelong Blackpool FC fan who owns an international asset management firm, has bought the troubled team.

He has acquired a 96.2 per cent stake in the club, Bloomfield Road Stadium, the club's training ground and the entity that runs the hotel situated at Bloomfield Road Stadium.

Though he founded Segantii Capital, which controls $1bn of assets from its headquarters in Hong Kong, the purchase has been made in a personal capacity.

Blackpool FC, which currently plays in League One, had been under the control of the Official Receivers since February, when the High Court removed the controversial Oyston family from power after more than 30 years.

Simon said: “It is my great honour and privilege to become the owner and custodian of Blackpool Football Club. By providing financial stability and investment over time, my intention is for the club to achieve its full potential."

Leeds-based Walker Morris advised Simon the purchase.

David Hinchliffe, who headed the Walker Morris Team, said: "As a life-long Blackpool FC fan, Simon has a deep-rooted and vested interest in the success of the club.

"Blackpool has a great heritage and strong links with the community and so the acquisition is a great outcome for everyone involved, including the fans and the local community. It's great to play a part in another deal where our team helped to secure the future of another historic football club."