It’s been a long five and a half years. As soon as Blackpool FC’s accounts for the 2010/11 season were released back in March 2012, to widespread media scrutiny, it should have been clear for everyone to see exactly what the Oyston family were doing … Continue reading Hate To Say I Told You So…
Blackpool FC’s accounts were made public for the 2015/16 season they spent in League One on 28th March 2017, revealing losses for the first time since their promotion to the Premier League. Here, we will dig into some of the detail.
Here we are then. Another year, another set of accounts to pore over.
Due by the 30th September, the Zabaxe accounts for financial year ending December 31st 2013 were filed late on 2nd October and were made available for viewing by Companies House this morning. For those unfamiliar with the story surrounding Zabaxe, their 2012 accounts were analysed on Measured Progress earlier this year. A very quick analysis of the most recent set of financial statements follows…
Following the release of Zabaxe’s accounts last week, it was the turn of the Blackpool FC group of companies to lodge their financials for the 2012/13 season. As with the 2011/12 accounts, there is nothing nearly as shocking as the £11m director remuneration awarded to Owen Oyston (via Zabaxe), but the most recent documents still contain a story worth telling.
The name Zabaxe is a familiar one to most Blackpool fans, synonymous as it is with the £11m director remuneration paid to Owen Oyston back in 2010/11. As a quick refresher, it was Zabaxe Limited who were the recipient of this unprecedent director salary straight out of the Premier League TV money, with the claim being it was for tax planning purposes.
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.