The FA stated that Oyston's alleged misconduct constituted five breaches of the governing body's rules and that each offence is deemed to be an "aggravated breach" as they included a reference to disability.
Oyston is said to have made abusive remarks towards Steve Smith, a member of the Tangerine Knights Supporters Group who was critical of the way the chairman is running Blackpool.
In the text message conversation Oyston is accused to have called Smith a "massive retard" and an "intellectual cripple", although he has since apologised.
Oyston has until March 30 to respond to the charge. Blackpool are bottom of the Championship.
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