Bright Path Sport, a US-based company, has acquired a 40% stake in Ipswich Town in a deal worth a reported £105 million.
Current Ipswich CEO, Mark Ashton, is set to remain in charge and insists that upgrading the infrastructure of the club is one of the main ways in which the hefty financial boost will be used.
Ipswich Town secure massive investment from US company
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Bright Path Sports acquire 40% percent of Ipswich Town
As per the club's official website, “Bright Path Sports is to be represented by co-founders Jake Zahnow and Phillip Ciano. Their investment is comprised of several limited partners, of which Sam Simon, the founder of Simon Group Holdings and Simon Sports, is the primary funder.”
Despite the investment, ORG will remain the majority shareholder of the club, maintaining a 50% stake, and Ashton will continue to run the side on a day-to-day basis.
The US-based company have explained that while they will offer their input whenever it is needed, their main responsibility will be to provide capital.
Ipswich training ground to be upgraded
Ashton, the current CEO of the Tractor Boys, appeared to echo that statement, insisting that the investment helps to secure the long-term future of the club while adding that in the short-term, the increased funds will be used to develop facilities such as the training ground.
He said: “We are excited to welcome Bright Path Sports on what is another landmark day in the Club’s history.
“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.”
An exciting time to be an Ipswich fan
After securing promotion to the Championship ahead of the 2023/24 campaign, the Tractor Boys are currently flying and sit just one point off of joint league leaders Leicester City and Leeds United.
The combination of an exciting team that plays entertaining football, the very real prospect of Premier League football next season as well as the new investment from Bright Path Sports, it is certainly a very exciting time to be an Ipswich Town fan right now.