Belokon financial problems ?

Think this has been coming for some time, unfortunately. Looking after Russian/ex-Soviet money has gone out of fashion
 
It makes me wonder what the original connection between Oyston and Belekon was all about. Why would a businessman in the UK receive money from Latvia in exchange for effectively worthless shares?
 
tangysider said:
Hardly worthless when he, was, awarded over 30 mill gbp
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They weren’t worth anything of the sort at the time the money was sent to the UK. It was a minority shareholding. They only became significant when a later gentleman’s agreement pushed Belekon up to parity with Oyston. The question still stands. Why did the money come from Latvia for 20% of the club?
 
Dark_Side_of_the_Lune said:
They weren’t worth anything of the sort at the time the money was sent to the UK. It was a minority shareholding. They only became significant when a later gentleman’s agreement pushed Belekon up to parity with Oyston. The question still stands. Why did the money come from Latvia for 20% of the club?
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For the same reason anyone else buys a minority interest in a business … because they believe the investment will allow the business to grow and increase its value to the benefit of all shareholders. This is literally how the entire venture capital industry works. It’s how Dragon’s Den works. And in this case it delivered a profit, albeit in a twisted and unexpected manner.
 
I think this is why there was never any question of Simon Sadler accepting any kind of financial investment from Belokon. BTW I never knew he had been a KGB officer
 
TKL_Seasider said:
For the same reason anyone else buys a minority interest in a business … because they believe the investment will allow the business to grow and increase its value to the benefit of all shareholders. This is literally how the entire venture capital industry works. It’s how Dragon’s Den works. And in this case it delivered a profit, albeit in a twisted and unexpected manner.
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As a former director of one of the ‘Big Four’ I’m well versed in how capital is deployed. My point is, why Latvia, why a Bank with such connections, and what was Oyston up to.
 
Dark_Side_of_the_Lune said:
As a former director of one of the ‘Big Four’ I’m well versed in how capital is deployed. My point is, why Latvia, why a Bank with such connections, and what was Oyston up to.
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I’d posit that both Mr Belokon and Mr Oyston were people with substantial resources but with whom not everyone would want to do business. God knows how they actually met but … small world and all that.

(Wasn’t OO involved in investing Derbyshire County Council’s pensions in the former Soviet states? With entirely predictable results … just speculation on my part)
 
TKL_Seasider said:
I’d posit that both Mr Belokon and Mr Oyston were people with substantial resources but with whom not everyone would want to do business. God knows how they actually met but … small world and all that.

(Wasn’t OO involved in investing Derbyshire County Council’s pensions in the former Soviet states? With entirely predictable results … just speculation on my part)
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Yes that’s what I was driving at. I’d heard very similar. About property developments and ways of repatriating cash back to the UK.
 
Saw this last week.

Theres an investigation.

Doesnt mean he's personally done anything wrong until a properly constituted court adhering to the principles of natural justice decides.
 
Philbfctrois said:
It does make you wonder why so many high profile Blackpool fans dropped their pants for the Latvians

It really wasn't rocket science to think that he was dodgy
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You really do like to come across as a bit of a controversial cocker at times Phil. You're just a bitter and twisted because Foggy never mentioned you in his book but took the time at his own expense to visit the Latvians without dropping his pants!
 
Played the fanbase like a fiddle imo. Myself included until the end when he was desperately trying to let big O hold onto the club with deals, delaying the court receivership action and not reimbursing fans which would've been pin money for him. Amazing that this guy still gets kudos.
 
rockontommy said:
Played the fanbase like a fiddle imo. Myself included until the end when he was desperately trying to let big O hold onto the club with deals, delaying the court receivership action and not reimbursing fans which would've been pin money for him. Amazing that this guy still gets kudos.
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Without Belokon the ghost of Christmas past would still be sat on the balcony with his nieces.
 
L’étranger said:
It’s a salutary reminder that we should all be grateful that Sadler bought the club.
Imagine if the Pilley / Belokon ticket had got off the ground. It really doesn’t bear thinking about.
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Very lucky imo that SS stepped forward

We have a bright future which can’t be said for a lot of other football clubs
 
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That partnership be more corrupt than hoyston. Can still ppicture the belly tickling from some of our fans. LOL.
Happy Christmas.
 
TangerineBayern said:
You really do like to come across as a bit of a controversial cocker at times Phil. You're just a bitter and twisted because Foggy never mentioned you in his book but took the time at his own expense to visit the Latvians without dropping his pants!
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Maybe it's just the Christmas cheer but I'm going to stick up for Phil here. I understand using Belokon or supporting him as a means to an end but I certainly didn't want him as owner. He's had several warnings about the bank, money being funneled to Mexican drug cartels and God knows what else. Nasty people doing nasty stuff, funded with the help of Baltic International. Good for Latvia for having some teeth. No bank should be allowed to operate as if money laundering rules don't apply to them.
 
foggy said:
Maybe it's just the Christmas cheer but I'm going to stick up for Phil here. I understand using Belokon or supporting him as a means to an end but I certainly didn't want him as owner. He's had several warnings about the bank, money being funneled to Mexican drug cartels and God knows what else. Nasty people doing nasty stuff, funded with the help of Baltic International. Good for Latvia for having some teeth. No bank should be allowed to operate as if money laundering rules don't apply to them.
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Yes, we've been through this one time and time again on here Foggy.

If I'm honest about things, I was an Uncle Val fan all along but I probably just turned a blind eye whenever his behaviours were questioned because he was on the opposite side to the Oystons and even if he was a wrong'un it was OK because he was not as big a wrong'un as Owen.

Although I can't pretend not to have been a supporter of his all along, one thing that didn't sit well with me was that he was able to ride off into the sunset with millions that really should have remained in the club.

Yes I know that he was entitled to everything he got, that he risked his money when investing in the club etc, etc but surely there would have been some way that he could have left something for the club before he left ?
 
Always amazed me how he got such an easy ride for wandering off into the sunset with all the PL Money…

There’s no doubting that the Oystons were inadvertently ousted as a result of VB’s financial claim, but the Banker certainly hit the jackpot, came out with much more than he might of expected and did nothing to effect a legacy.

Just another tit like Owen Oyston (replace the Fedora with a Daft Brown Bowler etc..)..

Anyway… Their cat fight over the Club’s money saw us well shot of both of them 👍
 
rockontommy said:
Played the fanbase like a fiddle imo. Myself included until the end when he was desperately trying to let big O hold onto the club with deals, delaying the court receivership action and not reimbursing fans which would've been pin money for him. Amazing that this guy still gets kudos.
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I agree he should have reimbursed the fans who lost money by taking the O's on. They all helped by keeping the fight in the headlines. £30m to him so a few Thousand to help out wouldn't have hurt him.
 
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