• ‘It’s like Christmas and birthdays all come early at once,’ say fans • Owen and Karl Oyston to ‘appeal elements’ of Monday’s high court ruling

Blackpool have been put up for sale by the Oyston family, who have instructed their counsel to appeal aspects of Monday’s high court ruling that ordered Owen Oyston and his son Karl to pay £31m to the minority shareholder, Valeri Belokon.

The news that both entities of the club have moved on to the market – Blackpool Football Club Ltd and Blackpool Football Club Properties Ltd, which owns their Bloomfield Road stadium – comes four days after a high court judge ruled the Oystons must pay Belokon for his shares after operating an “illegitimate stripping” of the club following promotion to the Premier League in 2010.

Referee Ben Toner dropped from Blackpool game after Oystons court verdict Read more

An asking price was not stated in the club statement released on Friday that requested “expressions of interest” via email. The statement read: “The directors of Blackpool Football Club and Blackpool Football Club Properties are now in a position, following the conclusion of litigation, to market for sale Blackpool FC Ltd and Blackpool FC Properties Ltd.

“Substantial, external, non-football revenue is a major component of the properties business. Expressions of interest should be made to an independent nominee, appointed by the football club, who can be contacted via email – independentnominee@blackpoolfc.co.uk.

“Following the recent high court judgment, legal counsel have been instructed to apply for leave to appeal elements of the judgment with immediate effect. In the interim period, as throughout the litigation process, the focus of the board remains on supporting the manager and continuing to negate the impact of off-field issues.”

Fans of the League One club have been bitterly protesting against the Oystons’ running of the club and thousands have heeded the Blackpool Supporters’ Trust’s call to boycott matches.

Blackpool’s demise makes a mockery of football’s fit and proper persons test | David Conn Read more

They reached the Premier League in 2010 before plummeting into League Two six years later. Blackpool are 12th in League One, having won six of their 15 matches.

Play Video 5:35 We Want Oyston Out: Blackpool fans are trying everything - video

The BST has long called for a change of ownership and chairperson, Christine Seddon, said: “I really do feel overwhelmed. I have never doubted this day would come, I just didn’t know when. We are very confident there are decent people out there that will buy this club. It’s like Christmas and birthdays all come early at once.”