Blackpool chairman Karl Oyston has defended how £11m of the club's Barclays Premier League cash windfall had been given to his father. The massive payment was made to a company called Zabaxe Ltd, owned by club owner and former chairman Owen Oyston and his wife Vicki.
He told the Blackpool Gazette: "There was no-one else around in 1987 who stumped up cash to save the club from extinction and who has kept it out of trouble since more than 60 clubs have had financial problems in the intervening period.
"He has lent the club vast amounts to fund the north and west stands, and much more. I know the main gripe among fans is the way I operate, but that won't ever change and it got us to the Premier League. The surplus cash has been created as a result of that.
"The money isn't gone, like it would be in the pockets of a player or an agent. How many ex-players do you see stumping up to help the clubs they have done well from?
"My dad is a true, lifelong supporter, who has kept a club in existence and funded it as and when required for a quarter of a century."
