Blackpool owner threatened with prison in ongoing legal dispute

The legal representative of Belokon issued the notice to Oyston this week, after he supposedly failed to disclose information on a number of assets set for auction, to cover the huge bill owed to the former sporting director. 

The list of items includes: a number of family properties, shares in Blackpool Football Club properties, and the club's holding company. 

In an interview with 'Sportsmail' Oyston spoke of the ongoing saga, stating: "We will comply with the (court) order. I don't know what the big issue or concern is."

Belokon is still awaiting a settlement of around  £25 million as decided by the High Court , who found that the Latvian was 'unfairly prejudiced' by Oyston. 

Judge Marcus Smith ruled that Oyston had 'illegally stripped' Blackpool FC of assets following its promotion to the Premier League in 2010. 

Very much despised by the majority of the 'Seasiders' supporters, Oyston stands accused of 'disobeying' a court order passed down in July, and has not passed on the required documentation for the sale of the assets.