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Investment News Close - Ipswich Town News

TWTD understands that Town are close to announcing an agreement regarding the restructuring of their debt, paving the way for new investment into the club.

The Blues have been in talks with Morley Fund Management for some months regarding a write-down of the £28 million owed on the bond which funded the building of the two new stands.

A national newspaper report at the weekend revealed that a Town takeover was on the cards, however, this seemed highly unlikely until the club had found a solution to their debts totalling £36 million.

We understand that potential investors have been involved in the club's negotiations with Morley, which are likely to see the bond debt reduced by two-thirds to around £10 million.

The club are set to receive a cash injection into the playing budget and it is our understanding that at least some of that money will come from existing shareholders, with city businessman Michael Spencer long rumoured to be keen on increasing his stake in the club.

Get the fastest and most comprehensive Ipswich Town news service at ipswichtown.footballlatest.co.uk.

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