Blackpool FC is delighted to announce that work on the new South Stand and South-West Corner will commence immediately.

Valery Belokon, the President of Blackpool Football Club, speaking from his newly opened multi-million pound bank premises in Riga, said:

"It gives me great pride and pleasure to announce that the new South Stand and South-West Corner will go ahead immediately. I am investing substantially in this new development in a full partnership with the Oyston family.

I am delighted with the way the club has advanced since I became involved and may I take this opportunity to congratulate all those fans who have supported the club in these exciting times. My congratulations also go out to the directors, staff and our courageous players for their achievements last season. In particular, I wish to thank the manager, Simon Grayson, for the wonderful job that he has carried out, which has cemented our present Championship status.

The proposed increase in seat capacity in the East Stand and the new 3,500 seats soon to be built in the South and South West corner will give, I believe, a clear signal to the football industry and potential new players for Blackpool Football Club that we are serious contenders to advance further. I sincerely hope that those fans who have been critical of the lack of a South Stand facility will be as pleased as I am with the news and will now get behind the club to add further momentum in our drive forward.

The future is tangerine."