Sunderland’s Championship rivals have announced a significant £105 million investment in the club.
Sunderland’s Championship opponents have announced a £105 million investment package.
Bright Path Sports Partners, a private equity firm based in the United States, has invested in Ipswich Town, with the Tractor Boys currently vying for promotion to the Premier League. Ipswich say the investment is up to £105 million and will secure a 40% stake, and is a “exciting step which will further secure the club’s future”.
Ed Schwartz, 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, Ipswich Town’s CEO, stated, “We are delighted to welcome Bright Path Sports on this historic day in the Club’s history.”
“This is a day that guarantees the Football Club’s long-term future and provides us with the wherewithal to carry the Club ahead by using the diverse abilities and experiences that 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.”
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