Blackpool FC's 11/12 Accounts Reviewed

Eagerly-awaited they may have been, but the annual release of accounts for Blackpool Football Club Ltd and Segesta Ltd (the properties side of the club) proved to be a much more low-key affair this time around. Absent from the contents was any mention of huge director remuneration like last year, but if one scratches beneath the surface, there remains a story to be told.

Nine weeks later and the common denominator

Nine and a bit weeks is all it took for Michael Appleton to decide he would sooner take his chances at Blackburn Rovers than Bloomfield Road. This leaves Blackpool in a state of chaos for the second time this season. How did it all come to this?

Why Ian Holloway's departure was inevitable

So, it's finally happened. Ian Holloway has left Bloomfield Road after three and a bit seasons in charge to take up the managerial position at Crystal Palace. The rumour mill had been in overdrive for a couple of weeks and it comes as no surprise that Holloway has eventually decided it's time to move on. When linked to the Burnley job, prior to Sean Dyche's appointment at Turf Moor, I wrote a piece for No Nay Never about what might be motivating Holloway to seek a potential exit - I'd like to expand on some of the points raised there to establish some background as to why today's events have come to pass.

A Response To The Response

Keen followers of the blog - I'm led to believe there are one or two of you out there - may have noticed a distinct lack of activity in recent weeks. My last post was a response to the publication of the club's most recent set of annual accounts, where I outlined 10 questions that should be answered by the Oyston family. 

My inactivity since then has been for a variety of reasons. Posting about the football side has been limited by time, missing the odd game here and there, and to be honest more than a little apathy in the aftermath of the financial revelations. Results had done little to inspire either, with just one win in the last six including some very poor performances.

Away from the football, I had been reluctant to post more about the financial situation. There was still plenty more to say, but there was a feeling emerging that off-the-field disruption was starting to affect performances and results. How true that is remains unclear - players are after all highly-paid professionals who should be able to put paper talk to the back of their minds once crossing the white line. However, I was willing to let this case lie until our season is over, one way or the other.

Until now we had only heard brief snippets from Karl Oyston in reply to the stories that arose in the national and local press. Yet this Monday, the BBC broadcast an interview with the Blackpool chairman as part of their regional Late Kick Off programme, hosted by Tony Livesey. An extended version of this interview was then broadcast by Radio Lancashire on Tuesday evening.

Needless to say I was far from impressed with comments made by Karl Oyston, and therefore I would like to respond to his response. Quotes displayed are accurate transcriptions from that interview, which can still be listened to until next Tuesday (3rd April).

10 questions that should be answered...

...but probably won't be. At least not satisfactorily.

Since the club's 2010/11 accounts were published last week it has been a topic that has dominated  debate in the usual outlets, and even making national headlines with a double page spread in the Mail on Sunday (and later coverage in the Guardian). Last year this blog sought to conduct a comprehensive analysis of the 2009/10 accounts, although in truth that wasn't entirely successful.

Rather than take a similar approach by dissecting the numbers in detail - much of which is already now publicly available anyway - we'll take a look at the fallout from the figures and the questions arising. It's unlikely Blackpool fans will get the answers they want to these questions, but if the club's owners are determined to build bridges and make amends for this PR disaster, then as much disclosure as possible based on these 10 questions would certainly help.

It's Their Fault: Karl Oyston

Last time out we examined the influence Blackpool's defence might have had on relegation. Now it's the turn of Karl Oyston to take some of the flak. How did 'Pool's Chairman / Acting Chairman / Chief Executive (delete as applicable) contribute to a season that promised so much, yet ultimately ended in disappointment?

Financially Speaking (Part Two)

In the second of this two-part look at Blackpool FC's finances from the financial year ending May 31 2010 we'll examine more of how the club has conducted its business, and how the influx of Premier League money will impact the club in the future. Last time out we focused on:

• Ownership
• Losses and Negative Net Worth
• Increasing Turnover
• Stadium Development

Before continuing with this article, I would advise that you first read part one, which can be found here. This time round I'd like to examine the following:

• Player Wages
• Debt
• Influx of Premier League Money
• The Future

Financially Speaking (Part One)

On 22nd February Blackpool FC submitted their accounts to Companies House for the financial year ending 31st May 2010. While these accounts don't factor in the riches bestowed upon the club upon promotion to the Premier League, I'd like to examine the financial standing of the club in recent seasons, and how its new found wealth will affect its future. With this being such a meaty topic, I have decided to tackle this in two separate posts, the second of which will follow at some point later this week.

Season Ticket Reward Refunds - Where Are They?

Original Offer

'Your Loyalty Rewarded' - this was the slogan in the 2010/11 season ticket brochure. The deal was that for every friend existing season ticket holders could persuade to sign up, they would receive 10% of the cost of their own season ticket back as a reward. This seemed like a great idea, and with the club sorely lacking in ideas in a commercial sense down the years, a breath of fresh air. In the end, promotion to the Premier League probably meant that no such incentives were necessary, with the full allocation of season tickets being snapped up in no time at all.

Man Utd Postponement - Avoidable?

So arguably the biggest home game of the season has fallen victim to the weather. Despite measures being taken to get the game on, referee Peter Walton was not convinced that the pitch would thaw out in time for the late evening kick off tomorrow. Is this merely a case of force majeure, or could the club have done more to ensure the fixture did go ahead?

Oyston In?

"A riddle, wrapped in a mystery, inside an enigma." If this hadn't been said about Russia in 1939 by Winston Churchill, that phrase could aptly sum up the reign of the Oyston family. Shrouded in secrecy, it's fair to say nobody ever knows what's truly going on behind the scenes at Bloomfield Road. My very own blog post two months ago when Karl Oyston announced he would be stepping down spectacularly missed the reason for his decision. Days after that post, it emerged that Oyston had a bankruptcy order against him, and with Premier League rules barring directors from being bankrupt, the situation seemed clearer.

Quite how Karl Oyston, an heir to a massive family fortune, had become bankrupt wasn't so clear - the murmurs around the Fylde Coast suggested links to his personal life - but it at least explained why he could no longer continue as Chairman. The statement at the time said Oyston would stay on as Acting Chief Executive until a replacement was appointed. The weeks went by without any sense of urgency, a staple of the Oyston era, which appeared to draw the attention of the Premier League.

With no effective change in the stewardship of the club, the Premier League began investigating whether Oyston was operating as a shadow director, which goes against the league's ownership rules. It would appear that this investigation may have triggered a reversal of the bankruptcy order announced today by the club. This would open the door for the return of Oyston to the role of Chairman, albeit in rather embarrassing circumstances given the increased level of media scrutiny in the top flight. The way this saga has unfolded is amateurish to say the least, a term frequently aimed at the way the club has been run under the Oyston family.

Of course, this assumption could be wide of the mark, and the annulment of the bankruptcy order may just allow Oyston to continue as a shadow director in the role of Acting Chief Executive while a successor is sought. Oyston may well have had enough and be looking to leave, but I'm now not quite so sure this is the case. The likeliest scenario is that he will return as Chairman, restoring the former boardroom set-up.

What does this mean for the future? Well, not an awful lot in all probability. The frugal marshalling of the club will continue, and while such positive results are being achieved on the pitch, it's hard to make too much of a fuss. One thing's for certain however, I know this will not be the last post I write about Karl Oyston this season.

Oyston Out!

This post can now be found here: http://measuredprogress.co.uk/opinion/oyston-out/