Town Announce New £105m Investment From Bright Path Sports Partners.
Bright Path Sports Partners, a US-based private equity firm, has announced a £105 million investment in Town, securing a stake of slightly over 40% in the team.
“The investment is being made to support the club in the long-term and comes at a time when the Three Lions fund, represented by Berke Bakay and Brett Johnson at board level, has also significantly increased its investment,” the club said in a statement explaining the move.
Phillip Ciano and co-founder Jake Zahnow will represent Bright Path Sports. The principal funder of the investment is Sam Simon, the founder of Simon Group Holdings and Simon Sports, among other limited partners.
“ORG, which oversees the management of money for PSPRS (the Arizona Public Safety Personnel Retirement System) and is led by Ed Schwartz, continues to be the largest and controlling shareholder in the Club with a fifty percent holding, subsequent to Bright Path Sports’ investment. Smaller investors, such as the Three Lions [and former owner Marcus Evans], make up the remaining 10%.
“CEO Mark Ashton will continue to oversee the club’s daily operations, and new investors Bright Path Sports will contribute capital and strategic insight that will prove extremely beneficial to the organization.”
“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,” stated Schwartz, co-founder and principal of ORG, on the club website.
Because of the club’s advancement, we believe the moment is right, and we are thrilled to have Bright Path Sports join us. We are thrilled that Mark Ashton has extended his commitment to the club, and we look forward to Bright Path contributing significantly to Ipswich Town in the years to come. Mark Ashton will continue to oversee the team on a daily basis.
After the Sunderland game in January, TWTD received a tip that further funding was imminent when CEO Ashton and COO Werhun were seen showing three unidentified Americans around Playford Road. Later, they were seen doing the same on Portman Road and taking pictures in the dugouts.
You can now watch the entire interview featuring Schwartz, Ashton, Simon, Zahnow, O’Leary, and Bakay for free on the club’s TownTV.
