Blackpool acting chief executive Karl Oyston is not prepared to accept any possible resignation from Ian Holloway in the wake of a Premier League fine for fielding an under-strength team.
The Bloomfield Road club have two weeks to decide whether they will appeal against a £25,000 punishment after it was deemed that they broke rule B.13 and E.20 in their match against Aston Villa in November.
Manager Ian Holloway made 10 changes to his line-up in what was eventually a narrow 3-2 defeat at Villa Park and he threatened to resign if he was punished for the tactic because he selected from a 25-man squad submitted earlier in the season.
The opinionated Blackpool boss, who steered the club to promotion via last season's Championship play-offs, qualified the statement by saying that he would only quit if Oyston deemed it to be a sensible decision.
But, having spoken with Holloway on Thursday evening, Oyston does not want to see his manager leave, as he told Sky Sports News: "I will do everything in my power to stop Ian going anywhere.
Point of principle
"He has been a breath of fresh air, not just for Blackpool, but for the whole Premier League.
"He has obviously done wonderful things in his time at Blackpool and it would be ridiculous for Ian, on a point of principle, how ever strongly we both feel, to suffer any kind of personal loss.
"I will do everything neccesary to keep him here and have no doubt I'll be successful in that."
Oyston, who is to wait until after the transfer window closes on Monday to decide if Blackpool will appeal, added regarding Holloway: "He is obviously disappointed and upset by it, but there is absolutely no question that I would accept his resignation.
"He has breathed life back into our club since he joined us and I think that I will soon cheer him up again.
"The transfer window closes in a few days so that should cheer us both up."
Oyston has also continued the ongoing squabble regarding Charlie Adam in the aftermath of the Blackpool captain's decision to request a transfer following failed bids from Liverpool and Aston Villa.
Holloway has been involved in bickering with Villa boss Gerard Houllier, while Oyston has now accused Liverpool of 'bizarre' behaviour.
He said when asked about the Anfield club: "I think they have maybe expressed a direct interest to the media, but that has certainly not been backed up by their conversations with us, which have been slightly bizarre in my opinion.
"Ordinarily, if a club wants to take a player from another club they will approach them directly.
"Every step of the way through this window everything has been done by the media."
He added: "I find it amazing the way the whole thing has unfolded. It has really left us in a position where we have just had to react to the whole thing rather than ever being in any form of control over it."