In a further sign of how the era of the oligarch’s in funding English football is being eclipsed by a wave of corporate capital from the United States, the American private equity firm Bright Path Sports Partners have announced the purchase of a 40% stake in promotion challenging Championship club Ipswich Town. The Blues are third in the table and hoping to return to the Premier League for the first time since 2002.
The deal is priced at a cost of “up to £105m”, with current majority shareholder ORG reducing its stake from 90% to 50%. US investment fund ORG bought the club via a new company, Gamechanger 20 Ltd, from previous owner Marcus Evans in April 2021. As part of the Gamechanger takeover, Americans Brett Johnson, Berke Bakay and Mark Detmer bought a 5% stake in the club through their Three Lions fund, with Evans still owning the remaining 5% of the club.
Chief Executive Mark Ashton is to remain in place. Bright Path co-founder Jake Zahnow and Sam Simon, whose company is the primary funder, will be appointed to Ipswich Town’s board.
Mr Ashton released the following statement on the Ipswich Town’s website: “The investment will continue to support the club in both the medium and long term, with the biggest immediate use being to support a number of key infrastructure projects, including the significant redevelopment of the training ground at Playford Road.”
Ipswich have been one of the big surprises in the Championship this season having only obtained promotion from League One last year. They are currently one point behind Leeds United and Leicester City in the race for the two automatic promotion places to the Premiership, with eight games still to play.
Ipswich Town return to action following the international break with an away game at Blackburn Rovers on 29 March, followed by a home match against fellow promotion challengers Southampton on Easter Monday.
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