Joey Barton has agreed to pay a five-figure sum to the owners of Blackpool FC, the Oyston family.

Reports suggest that the Burnley midfielder has settled out of court with the Oystons after labelling them as 'asset strippers' on BBC Radio 5Live last season while he was with QPR.

Blackpool chairman Karl Oyston penned a legal letter to Barton claiming defamation and they have since settled on a five-figure compensation fee

Regarding the ownership of Barton's former club Newcastle United, the 33-year-old compared the Magpies to the struggling Seasiders: "Do you know what the [Newcastle] situation reminds me an awful lot of?

"It reminds me of Blackpool, what Oyston's done at Blackpool where he's asset-stripped them.

"Obviously I'm aware it's not that far down the line but that's what he did. The club ran at a massive profit, got to the Premier League, he took all the money out the club and stopped investing in players.

"Mike is a more savvy businessman than that. He's dead set on keeping them in the Premier League."