Oyston family, owners of Blackpool FC, ordered to pay Valeri Belokon more than £31m

Valeri Belokon has won his High Court case against the Oyston family, owners of Blackpool FC

Valeri Belokon has won his bitter High Court battle with the Oyston family over the running of Blackpool FC.

The Latvian businessman, a minor shareholder in the League One club through his company VB Assets, brought the action against the Oystons alleging that they had shown unfair prejudice against shareholders.

They will now, as per the judgement, complete a "financial buyout" of Belokon's share, which amounts to £31.27m, plus pay interest and costs.

Belokon's lawyers claimed the family excluded their client and his nominated directors from key decisions, information and share of profits.

Owen Oyston, Blackpool's majority shareholder, and his son Karl, the club's chairman, denied the accusations during a lengthy civil trial in London earlier this year before Mr Justice Marcus Smith.

They gave evidence that all financial transactions were conducted in an open and transparent manner but the judge announced his decision on the dispute on Monday, ruling that there had been unfair prejudice.