The EFL Board today considered the outstanding submissions made by Blackpool FC following the appointment of the Receivers, by the High Court in February 2019.
The information received from both the Club and the Receivers has allowed the Board to make a final determination on whether the Club is to be regarded as being subject to an Insolvency Event as detailed in Regulation 12.3.
Based on the evidence presented and the judgment of the Court, the Board 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.
The decision taken was based on the information presented and the EFL Board has reserved the right to review the matter should the position subsequently change in the future.
The Board was today informed that the nine-point deduction received by Birmingham City, as a result of a breach in the Profitability and Sustainability Rules in the period 2015/16-2017/18, will stand after both parties opted not to appeal the decision.
An Independent Disciplinary Commission imposed the sanction in March 2019 and it followed a review of the financial submission made in March 2018 where it was subsequently determined the Club had recorded losses in excess of the £39m Upper Loss Threshold.
In the event the Club exceeds the Upper Loss Threshold for a second successive reporting period, it should be noted that the principle of the sanctioning guidelines will mean the annual losses, for any season already considered as part of the concluded proceedings, will be capped at £13m.
The EFL Board is still to receive a definitive application from Coventry City in respect to where the Club plans to stage its home matches in the 2019/20 season.
The Club continues to work with a number of relevant parties, as they attempt to seek a solution that satisfies the EFL.
An Extraordinary General Meeting of Clubs has been convened to consider their expulsion from the League on 25 April if they are unable to satisfy the EFL Board.
The EFL understands that it is the Club’s preference to extend their stay at the Ricoh Arena for future seasons and this would meet the EFL’s ultimate objective of ensuring they continue to play in the city of Coventry on a long term basis.
The Board is extremely concerned about the developing situation at Bury and has asked the Executive to provide whatever practical assistance it can to the Club.
The EFL Chief Executive has offered to meet with representatives of the Bolton Wanderers Supporters’ Trust ahead of a planned open meeting on Monday 15 April 2019.