Blackpool will not be deducted 12 points as a result of going into receivership, the English Football League has confirmed.
Receivers were appointed by the High Court in February, forcing then-owner Owen Oyston to pay ex-director Valeri Belokon the £25m he is owed.
According to EFL regulations, any club that becomes subject to an insolvency event, including the appointment of a receiver, could be deducted 12 points.
The Seasiders are eighth in League One.
The EFL board said they had “agreed that the appointment of the receiver is not material to the club’s ability to fulfil its obligations as a member club and as a result should not be regarded as having suffered an insolvency event, meaning a 12-point deduction is not applicable”.
Blackpool’s receivers, Paul Cooper and David Rubin, said last month that they had had 59 expressions of interest in the club.
Cooper said the decision not to deduct Blackpool, who are eight points outside the play-offs, any points was “excellent news”.
“I am delighted for Terry McPhillips and the players because they now know exactly where they stand for the remainder of this campaign and next season,” he said.
“It also allows the sale process to continue with a greater degree of clarity and certainty over the club’s position following the EFL’s ruling.”
The EFL added that their decision was “based on the information presented” and the EFL board “reserved the right to review the matter should the position subsequently change in the future”.
More to follow.