The EFL have confirmed the news this afternoon.
Blackpool fans can rest easy, knowing that they will not be deducted 12 points after falling into receivership.
A statement from the EFL this afternoon (11/04/19) reads:
"The EFL Board today considered the outstanding submissions made by Blackpool FC following the appointment of the Receivers, by the High Court in February 2019.
The information received from both the Club and the Receivers has allowed the Board to make a final determination on whether the Club is to be regarded as being subject to an Insolvency Event as detailed in Regulation 12.3.
Based on the evidence presented and the judgment of the Court, the Board agreed that the appointment of the Receiver is not material to the Club’s ability to fulfil its obligations as a Member Club and as a result should not be regarded as having suffered an Insolvency Event, meaning a 12 point deduction is not applicable."
The club have made an official response...
"The Board of Blackpool Football Club is delighted the English Football League has confirmed there will be no points deduction following the appointment of Court Appointed Receivers on February 13 2019.
Joint Receivers, Paul Cooper and David Rubin, in conjunction with the Board have been in close contact with the EFL and have provided information and documentation which allowed the EFL to reach its decision."
Paul Cooper said:
“This is excellent news for everybody connected with the Club and especially its supporters.
I am delighted for Terry McPhillips and the players because they now know exactly where they stand for the remainder of this campaign and next season.
“It also allows the sale process to continue with a greater degree of clarity and certainty over the club’s position following the EFL’s ruling.”