It now appears that Blackpool FC paid £23.5m to owner Owen Oyston and his companies in the last financial year, not the £11m originally reported. Some of these payments may have been to reduce tax exposure and the owner has ploughed millions into the club over the years and revived its prospects from a very poor position. However, it does mean that the club’s cash balances are lower than they might otherwise have been.
It now appears that Blackpool FC paid £23.5m to owner Owen Oyston and his companies in the last financial year, not the £11m originally reported. Some of these payments may have been to reduce tax exposure and the owner has ploughed millions into the club over the years and revived its prospects from a very poor position. However, it does mean that the club’s cash balances are lower than they might otherwise have been.