Ipswich Town: US equity company buys 40% stake for ‘up to £105m’

US private equity firm Bright Path Sports Partners have bought a 40% stake in Championship club Ipswich Town at a cost of “up to £105 million”.

Chief executive Mark Ashton will continue to manage the day-to-day running of the club.

“This is a day that further secures the long-term future of the club,” he told the club website.

The deal will result in Bright Path co-founder Jake Zahnow and Sam Simon, whose company are the primary funder, joining the board at Portman Road.

Zahnow said they had looked at teams all over the world for possible investment opportunities, but having held talks with Ipswich they “stopped looking”.

He added: “Mark and the team at Ipswich have an in-depth knowledge and vast experience of running football clubs and we love the direction the club is moving in, while being excited for the future.”

US investment fund ORG remains the majority shareholder, having bought a 90% stake from previous owner Marcus Evans in April 2021.

“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,” said ORG principal Ed Schwartz.

“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.”