The hedge fund of Blackpool FC owner Simon Sadler has been cut off from trading equities with two of its banks about its bets on the sale of large blocks of shares, according to reports.
All equity trading with Segantii Capital Management has been suspended by Bank of America and Citigroup, the FT reports.
The FT adds that Bank of America has stopped trading with Hong Kong-based Segantii in all financial instruments.
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It also reported that Citigroup has suspended its equity trading relationship with the fund but has continued to trade with it in other products.
Segantii Capital Management was launched in 2007 by Mr Sadler and has offices in Hong Kong, New York and London.
He took over Blackpool FC in 2019 after the club went into receivership in February of that year when the old owner, Owen Oysten, was ousted following a battle in the High Court.
At the same time, Mr Sadler purchased Bloomfield Road, the training ground and Blackpool Football Club Hotel Limited.
Mr Sadler was born in Bispham in 1969 and attended Warbeck High School, just north of the seaside resort.
He moved to Moscow and then onto Hong Kong in 1999 where he worked for HSBC Securities, Deutsche Securities and Dresdner Kleinwort Wasserstein Securities.
