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Ipswich Town have announced a “significant investment” in the club from Bright Path Sports Partners, a private equity firm that raises and deploys Native American capital.
The investment of up to £105m will give the company a 40% minority stake in the Championship side.
ORG, the club’s majority shareholder led by Ed Schwartz, will retain 50 percent control. His remaining 10% is owned by small investors including the Three Lions Fund.
CEO Mark Ashton will continue to manage Ipswich’s day-to-day operations, with new investor Bright Path Sports “providing capital and strategic thinking that will greatly benefit the club”.
Ipswich said: “The investment is being made to support the club in the long term.”
Ed Schwartz, co-founder and managing director of ORG, said: “When we acquired Ipswich Town in 2021, we set out with the original aim of getting the club back into the Championship and becoming competitive at this level. “We bought it. The plan was always to bring in clubs.” Get your partner on board at the right time.
“We feel that now is the time for the club’s progress and are excited to welcome Bright Path Sports. We look forward to working with Mark Ashton on his continued day-to-day leadership and look forward to his continued commitment to the club’s future.” We are delighted and look forward to seeing Bright Path bring great value to Ipswich Town over the coming years.”
Ipswich have had a successful season so far in 2023-24 (Justin Setterfield/Getty Images)
Ashton expressed his excitement about the partnership, which further secures Ipswich’s long-term future, and said the redevelopment of the club’s Playford Road training ground would be one of its immediate projects. .
“We are excited to welcome Bright Pass Sports to another milestone day in the club’s history,” he said.
“This is a day that further secures the long-term future of the football club and gives us the means to take the club forward, benefitting from the wide range of skills and experience that Bright Path investors bring.
“While this investment will continue to support the club in the medium to long term, its primary use in the immediate future is to support a number of key infrastructure projects, including the significant redevelopment of the Playford Road training ground. It is.”
Bright Path Sports is a private equity and advisory firm focused on mobilizing Native American capital to invest in professional sports franchises, facilities, and related opportunities.
The Bright Path Sports investment, led by co-founders Jake Zarnau and Philippe Ciano, is primarily funded by Sam Simon, founder of Simon Group Holdings and Simon Sports. The company is made up of multiple limited partners.
The new investment will bring about changes at board level, with Mr Simon and Mr Zanow joining the board of Game Changer 20, the company set up to acquire Ipswich in April 2021. Ashton and chief operating officer Luke Wharfon will also join the board.
Simon added, “We believe in investing in the future to give teams and executives the tools to get their jobs done, and we’re excited to be working together.” .
Ipswich have had an excellent season under manager Kieran McKenna and are challenging for back-to-back promotions.
McKenna’s side sit third in the Championship, one point behind second-placed Leicester City and leaders Leeds United.
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(John Walton/PA Image via Getty Images)
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