Blackpool FC can confirm Karl Oyston has stood down as Chairman and Director of the Football Club with immediate effect.

The 43-year-old will remain at Bloomfield Road as acting Chief Executive until the end of the season, or in the interim until a new Chairman is appointed. During this time he will continue to work closely with the manager Ian Holloway on player recruitment and to oversee the continued development and reconstruction of the stadium. The club would like to emphasise that there will be no interruption in the recruitment of players or the work required on the stadium.

No further comment on this subject will be made by anyone connected to the Football Club at this present time.