Blackpool owner appears in Hong Kong court

Simon Sadler was announced as the owner of Blackpool in June 2019

The owner of Blackpool Football Club has appeared at a court in Hong Kong in connection with allegations of insider dealing.

Simon Sadler, together with former trader Daniel La Rocca, is facing criminal proceedings alongside Sadler's company Segantii Capital Management Ltd.

No plea was entered when the pair appeared at Eastern Magistrate Court earlier.

The pair have been released after posting bail of $1m Hong Kong dollars (£100,000) for Mr Sadler and half that amount for Mr La Rocca.

Lifelong fan

Documents published by Hong Kong’s Securities and Futures Commission said it had commenced the proceedings "for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Ltd prior to a block trade in June 2017".

It said no further comment would be made now legal proceedings had commenced.

Mr Sadler was announced as the owner of Blackpool in June 2019. He was born and raised in the Lancashire town and has been a lifelong fan of the club having watched his first game at Bloomfield Road in 1977 at the age of eight.

The club is currently involved in several major developments in the town – with permission granted by Wyre Council last month for a new elite training ground between Blackpool and Poulton.

The case was adjourned until 12 June.

A spokesman for Blackpool said: "We have been made aware of a charge brought in Hong Kong against the club's owner Simon Sadler which is entirely unrelated to the Club and its operations.

"It will remain business as usual for our day-to-day operations.

"We understand Mr Sadler will vigorously defend himself against the charge and there will be no further comment at this time."