Latvian plans Seasiders takeover

Mr Belekon has said he wants the club to reach the Premiership

Latvian businessman Valeri Belokon has arrived in Lancashire to put the finishing touches to his plans to become President of Blackpool FC.

Mr Belokon agreed to invest £5m in the Seasiders following months of talks with club owners, the Oyston family.

Belokon Holdings will receive shares to be approved at an extraordinary general meeting on 19 June.

The Latvian has said he intends to help the club reach the Premiership within five years.

The cash injection will be phased in over the next few years.

His company's interests are believed to include a bank, brewery, newspaper, TV station, fish processing, a travel agency, the Baltic Institute of Strategic Studies and a golf school.