In one of the texts, which have been published on the Tangerine Knights supporters’ group’s website(Warning - strong and abusive language used), Oyston is alleged to have called Smith “a r****d” and told him to “Enjoy the rest of your special needs day out”.

Blackpool fans have reacted with fury towards Oyston and Smith called on the club’s chairman to step down.

“It’s quite important that the messages were released into the public domain,” Smith told Sky Sports News.

“The wording and the political incorrectness that Karl put in the messages is damning.

“His reference to special needs and disabilities, as well as the generalised reference to Blackpool fans, is not befitting of anybody that runs a Football League club and certainly not someone who is a committee member of the Football League himself.

“It’s poor form and it’s quite clear that Karl should immediately resign as chairman of Blackpool Football Club and leave his position as a committee member of the Football League.”

.@BlackpoolFC chairman Karl Oyston has been involved in an alleged bust-up with a supporter http://t.co/1FulQL3JtT pic.twitter.com/Grjj7UoIxW

— BBC Sport (@BBCSport) December 22, 2014

According to the Tangerine Knights, Smith appears to initiate the exchange by referring to the Oyston family's ownership of Quernmore Park Hall.

Oyston is reported to have told Smith to ”f*** off back under whatever rock you reside under”.

As the row continued – with personal abuse being sent in both directions - Oyston appears to defend the business decisions he has made and is reported to have called the supporter ”educationally subnormal” and a ”sad act”.

He is further reported to have told Smith that he has banned him from the club’s Bloomfield Road ground for being ”a p****”.

Smith is reported to have replied: ”Ok see you Saturday. I would usually not bother but since I know I am not banned on the system and I would love nothing more than to have someone explain to me why I am banned I might just come along.”

Oyston is alleged to have said in response: ”Why do you think anyone will explain anything to you? You are a nothing and will be treated as such.”

Blackpool lost 6-1 to Bournemouth on Saturday and are at the bottom of the Sky Bet Championship, 10 points from safety.

Oyston’s father Owen, who owns the club, responded to fans’ criticism in an interview with the Blackpool Gazette in October in which he said: ”It’s simply not true we have asset stripped or misappropriated football generated funds.

”We are one of the few clubs in the football world that have no debts and are in profit.”

Just after that interview by Oyston senior, fans staged a protest during the Championship match against Cardiff on October 3.

Demonstrations are now likely to occur at Blackpool’s next game – away at Sheffield Wednesday on Boxing Day – and during their home game against Rotherham two days later.

The chair of the Blackpool Supporters’ Trust (BST) Tim Fielding said: ”I have yet to speak to my committee and the BST membership, but based on the feedback I have had so far personally and from what I have seen on message boards, people are very angry.

”There could be a ground swell of reaction at the next home or away game.”

Fielding was outraged at what Oyston is alleged to have said.

”The relationship between the club and many of its fans is now untenable,” he said.

”We would support the Oystons if they could run the club in a responsible manner but recent evidence suggests they are not able to do so.

”I am astonished, really. It’s quite remarkable. For the owner of a football club to say that is bad judgement.

”He is a flag-bearer for the town, for the club and the community.

”If anyone at my work had said those comments they would have been bounced straight out of the door. There is not a satisfactory explanation for it.

”It’s a sad day for Blackpool Football Club.”

The editor of the Blackpool Gazette says Oyston’s weekly column for the newspaper had been ”scrapped with immediate effect”.

And anti-discrimination group Kick It Out also condemned Oyston.

“It’s always disappointing wherever this type of language comes from, obviously it carries a greater degree of worry when it comes from the higher echelons,” Kick It Out chair Lord Herman Ouseley said.

“Someone like Mr Oyston is supposed to set the standard and the tone for the organisation. And if that’s the nature, conduct and views of the person who runs the club it suggests they are comfortable and content with such conduct which is unacceptable.

“There are lots of words used carelessly that are very insulting and offensive to disabled people. They deserve to be treated with dignity and respect, even if you are responding to someone abusing you.”