Bright Path Sports Partners’ action demonstrates the growing influence of U.S. capital in financing English football.
In a clear indication of the shift away from oligarchs’ influence in financing English football, American private equity firm Bright Path Sports Partners has revealed its acquisition of a 40% stake in Ipswich Town, a Championship club vying for promotion. Sitting third in the league table, Ipswich Town harbors aspirations of returning to the Premier League for the first time since 2002.
The transaction comes with a price tag of “up to £105m,” marking a significant adjustment in the club’s ownership structure. ORG, the current majority shareholder, will see its stake decrease from 90% to 50%. ORG initially acquired Ipswich Town through a new entity named Gamechanger 20 Ltd in April 2021, following the purchase from former owner Marcus Evans. Notably, as part of the Gamechanger takeover, Americans Brett Johnson, Berke Bakay, and Mark Detmer secured a 5% stake in the club through their Three Lions fund, with Evans retaining ownership of the remaining 5%.
Despite the ownership transition, Chief Executive Mark Ashton will retain his position within the club. Bright Path’s co-founder, Jake Zahnow, along with Sam Simon, whose company serves as the primary financier, are set to join Ipswich Town’s board.
In a statement published on Ipswich Town’s website, Mr. Ashton affirmed that the investment will provide crucial support to the club in both the short and long term. He outlined immediate plans to channel the funds into pivotal infrastructure initiatives, notably the substantial redevelopment of the training ground at Playford Road.
Ipswich Town has emerged as a notable revelation in this season’s Championship, particularly after their recent promotion from League One. Currently trailing Leeds United and Leicester City by just one point in the battle for the two automatic promotion spots to the Premiership, Ipswich finds themselves in a highly competitive position with eight games remaining.
Following the international break, Ipswich Town will resume their campaign with an away fixture against Blackburn Rovers on March 29th, followed by a home clash against promotion contenders Southampton on Easter Monday.