Ipswich Town have confirmed that they will receive 'significant investment' from Bright Path Sports Partners on a 'landmark day in the club's history.'

The deal will see the US-based private equity firm take a 40% stake in the club for a figure of £105 million.

East Anglian Daily Times: Ipswich Town are chasing a second straight promotionIpswich Town are chasing a second straight promotion (Image: Ross Halls)

As a result, ORG, which manages funds for PSPRS (the Arizona Public Safety Personnel Retirement System), will see their shares diluted down to 50%.

They remain the majority and controlling shareholder in the club, while the remaining 10% is made up of smaller investors including the Three Lions fund - Brett Johnson, Berke Bakay and Mark Detmer - who have significantly increased their investment, previous majority owner Marcus Evans and Ipswich Town PLC. 

None of the previous ownership group have sold any part of their stake in the Blues, with Bright Path's cash all new investment into the club.

East Anglian Daily Times: Ed Schwartz leads ORG, the club's majority ownersEd Schwartz leads ORG, the club's majority owners (Image: YouTube)

A club statement has confirmed that CEO Mark Ashton will continue to manage the day-to-day running of the club, with new investors Bright Path providing capital and strategic thinking.

Bright Path Sports will 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.

Zahnow and Simon will both join board of Gamechanger 20 Ltd - the company formed to purchase the club in April 2021 - as will Ashton and Chief Operating Officer (COO) Luke Werhun.

Ed Schwartz, Chairman Mike O’Leary and Chief Financial Officer (CFO) Tom Ball will continue as board members of both Gamechanger 20 Ltd and Ipswich.

East Anglian Daily Times: Mark Ashton will be joining the board of Gamechanger 20 LtdMark Ashton will be joining the board of Gamechanger 20 Ltd (Image: PA)

Ed Schwartz, co-founder and Principal of ORG, the club’s majority shareholder, 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.”

Mark Ashton, Town CEO, 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.”

East Anglian Daily Times: The Three Lions - L-R: Brett Johnson, Berke Bakay and Mark DetmerThe Three Lions - L-R: Brett Johnson, Berke Bakay and Mark Detmer (Image: Steve Waller)

Town Director and Three Lions representative, Berke Bakay, added: “We are delighted Bright Path have committed capital to the club alongside the additional funds we have invested.

“The start of our journey at Ipswich has been an incredible one and we look forward to continuing it alongside our new partners.”

Sam Simon, the lead investor in the Bright Path-Ipswich investment, said: “We are excited to be making this investment in a brilliant football club.

“We love the history, the potential for the future, the passionate fans and the management of the club, who are amazing people. We invest in people and this is perfect for us.

“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.”

Bright Path Sports co-founder, Jake Zahnow added: “Phil and I looked at teams all over the world regarding possible investments and, after meeting Mark and Ed, we stopped looking.

“We are here to provide capital while offering our input whenever Mark and Ed need it, but first-and-foremost our job is to support them whenever it is required.

“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.”

- Town's accounts for the financial year 2022/23 also emerged this evening. They show the club's losses increased by almost £6m on 2021/22, from £12.8m to £18.2m.

As part of their increased costs, the wage bill increased by more than £3m - to £19.8 from £16.4m.

A statement from Tom Ball, the club's financial director, said: "This level of loss is within both the club's FFP projections and the business plan approved by ownership.

"It is expected that, in the absence of any player trading, losses may increase further as the club looks to compete in the Championship."

On Financial Fair Play (FFP) compliance - the rules which govern what clubs can spend - he added: "The average 3-year loss is £6.9m and totals £20.6m over the period.

"The EFL compliance threshold is a £13m per annum average loss and £39m over the three year period."

The statement further adds that the 2022/23 season was 'an excellent season for the club' which featured 'record replica shirt sales.'

It adds: "This is reflective of the incredible fanbase the club has."