Ipswich Town chairman Mike O’Leary has said that the ‘significant investment’ from Bright Path Sports Partners will help fund the club for up to five years.
The US-based private equity firm bought a 40% share of the club for £105 million last week, joining majority shareholders ORG as the primary investors.
The money will be used to fund a variety of different projects, including a new multi-million pound training facility, and O’Leary is confident that it’ll help the Blues to continue their progression as they eye up a place in the Premier League.
“If you remember three years ago when we started on this road, we said then that we had a plan and a budget that would take us from where we started in League One hopefully to the Championship at some point, and eventually to be knocking on the door of the Premier League,” he told Town TV.
“That’s where we always felt this club needed to be and should be, and this is the next step in that. We started with a budget that was really aimed at getting us out of League One, and that was always going to change once we started to need to put pieces in place to get us ready to have a real good go at getting into the Premier League.
“You’ve already seen some of that – you’ve seen that with the new pitch – but there are lots of other things, and they don’t come for nothing. We have to invest to be able to do those things, and getting investment into a business like this takes a little while, you don’t just do it overnight.
“This has been a long-term plan that we’ve been working on for quite a while, but it’s great to be able to announce that we’ve succeeding in achieving it, and we now have the resource available to take us forward over the next few years – probably up to five years, actually.
