Blackpool FC owner Simon Sadler appears in Hong Kong court over insider trading allegations

Blackpool owner Simon Sadler is the subject of criminal proceedings in Hong Kong in connection with allegations of insider dealing.

The 54-year-old, who became owner of Blackpool in June 2019, appeared in court with former trader Daniel La Rocca and Segantii Capital Management Limited, where Sadler is director and chief investment officer.

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. 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, according to reports from BBC Sport.

Sadler, a Blackpool-born businessman and lifelong fan, purchased the club out of receivership in 2019 in a move which ended the Oyston family’s 32-year connection with The Tangerines. They won promotion in the 2020/21 campaign and remained in the Championship for two seasons before suffering relegation after Neil Critchley’s departure.

Critchley returned to the dugout this season and led the club to an eighth place finish, three points shy of the play-off places.

A club statement read: “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 that Mr Sadler will vigorously defend himself against the charge and there will be no further comments at this time from the club.”