Ips wich sold | Vital Football

Ips wich sold

suffolknwot

Vital Football Hero
they said get rid of Lambert and they will buy.

Statement from Marcus Evans

I have always said that, whilst not actively looking to sell, I would seriously consider an offer made to me by a credible party if it would invest in Ipswich Town in a way that provides secure long-term funding to help take our club forwards.

A new company (Gamechanger 20 Ltd) has been formed specifically to purchase the Club for which a very fair price has been agreed for all of my equity, and in addition a payment for property and purchasing some of the debt previously owed to the ME Group including the debts acquired at a discount by the ME Group when buying the Club in 2007.

As part of the transaction, a portion of that historic debt has in effect been written off, leaving the Club with a much smaller debt burden and with nearly all Club debt owed to the new owners.

The new ultimate beneficial owner of the Club is a US investment fund called ORG, which manage funds on behalf of a large US pension fund and will own 90% of Gamechanger 20 Ltd. The ORG representative will be Ed Schwartz.

In addition to the pension fund investment in Gamechanger 20 LTD (GC20) through ORG, there is additional investment in GC20 through the Three Lions fund. This is managed by three Americans – Brett Johnson, Berke Bakay and Mark Detmer, who will jointly own 5% of GC20.