Ipswich Town have announced a “significant investment” into the club from US-based private equity firm Bright Path Sports Partners.
The investment of up to £105million will see the firm have a 40 per cent minority stake in the Championship side.
ORG, the club’s majority shareholder headed by Ed Schwartz, will retain a controlling 50 per cent stake. The remaining 10 per cent is owned by smaller investors, including the Three Lions fund.
CEO Mark Ashton will continue to manage the day-to-day running of Ipswich, with new investors Bright Path Sports “providing capital and strategic thinking which will be of significant benefit to the club”.
Ipswich said that “the investment is being made to support the club in the long-term”.
Ed Schwartz, co-founder and principal of ORG, said: “When we purchased Ipswich Town in 2021, we did so with the initial aim of restoring the club to the Championship and becoming competitive at this level, with the plan always including bringing a partner on board when the time was right.
“The club’s progress means we feel that time is now and we are excited to welcome Bright Path Sports. Alongside the continued day-to-day leadership of Mark Ashton, who we are delighted has further committed his future to the club, we look forward to Bright Path bringing significant value to Ipswich Town in the coming years.”
Ipswich have had a successful season so far in 2023-24 (Justin Setterfield/Getty Images)
Ashton expressed excitement about the partnership, stating that it further secures Ipswich’s long-term future and that the redevelopment of the club’s Playford Road training ground would be one of its immediate projects.
“We are excited to welcome Bright Path Sports on what is another landmark day in the club’s history,” he said.
“This is a day that further secures the long-term future of the football club and gives us the means to move the club forward as we benefit from the wide range of skills and experiences Bright Path’s investors will bring.
“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.”
Bright Path Sports is a private equity and advisory firm focused on mobilising Native American capital for investment in professional sports franchises, facilities, and related opportunities.
Represented by co-founders Jake Zahnow and Phillip Ciano, Bright Path Sports’ investment comprises several limited partners, with primary funding provided by Sam Simon, the founder of Simon Group Holdings and Simon Sports.
The new investment brings changes at board level, with Simon and Zahnow joining the panel of Gamechanger 20 Ltd, the company that formed to purchase Ipswich in April 2021. Ashton and chief operating officer Luke Werhun will also join the board.
Simon added that “we believe in investing for the future in order to give the team and management the tools to do their jobs and we’re excited to be working together”.
Ipswich have been enjoying an impressive season under manager Kieran McKenna and are challenging to secure back-to-back promotions.
McKenna’s side are third the Championship, one point behind second-placed Leicester City and leaders Leeds United.
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US investment, McKenna’s magic and a united club – Ipswich Town are being brought back to life
(John Walton/PA Images via Getty Images)