Blackpool: League One club hope to have new owners by end of June

Blackpool finished 10th in League One last season under Terry McPhillips
Blackpool finished 10th in League One last season under Terry McPhillips

Blackpool hope to have new owners by the end of June as the process of moving the embattled League One club forward reaches its conclusion.

Receivers have run the club since February as former owner Owen Oyston's 31-year reign ended in the High Court.

Paul Cooper and David Rubin have almost finished going through formal bids, with an announcement due imminently.

The Tangerines went from Premier League to League Two in six seasons amid arguments between the Oystons and fans,

Fans went on to boycott matches in protest against the Oyston family, however the boycott came to an end after they were removed.

The former Manchester United and Inter Milan executive Michael Bolingbroke, who was appointed executive chairman in April as the bid process continued, feels the people of Blackpool can start feeling proud of their club again.

He told the BBC: "This club is such an important part of the community. It was vital to get it back on its feet."

Manager Terry McPhillips has recently stated he is still working on the same annual budget put in place when the Oystons were at the club.

However, that could change once the new owner is confirmed and Bolingbroke is optimistic about the future.

He said: "We can challenge towards the top end of the league with the squad as it is.

"Obviously, the more money you have to spend, provided you spend it wisely, the better you can do and, in time, we should be looking at the Championship.

"It is not just about the first team squad though. Investment is also required in the academy and on the training ground.

"I have really enjoyed it here. It is a very easy club to become emotionally invested in."