Leeds United promotion rivals Ipswich Town have announced a “significant investment” of up to £105million from US-based private equity firm Bright Path Sports Partners. This deal means that BPSP will own a 40 per cent stake in Ipswich, who are currently third in the table and just one point behind leaders Leeds.
The majority and controlling shareholder remains ORG, which manages funds for PSPRS (the Arizona Public Safety Personnel Retirement System), as they still hold a 50 per cent stake. Mark Ashton, the current chief executive of Ipswich, will continue to manage the day-to-day running of the club, with new investors Bright Path Sports “providing capital and strategic thinking which will be of significant benefit”.
ORG co-founder and principal Ed Schwartz said on the club’s website: “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.
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“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.”
Ashton is confident the investment from BPSP can help Ipswich push on with their aim of returning to the Premier League.
“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,” Ashton said.
“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.”