Ipswich Town Ist, the Town Supporters Trust, has welcomed the news that conferencing billionaire Marcus Evans is to take an 87.5% controlling stake in the club. However, the Trust says it would like to hear more detail regarding the plans for the club's debt, which currently stands at £36 million.
A statement on the Trust website says: "The Trust welcomes the new investment in the club. The debt has been a millstone around the club's neck for a number of years preventing it moving forward ands returning to the Premiership. A solution to it has long been required and we are pleased to hear that in principle one is now in place.
"Town's statement refers to the ‘purchase of approximately £32 million of external debt'. We would be interested in clarification from the club as to whether this will mean Marcus Evans has bought the debt and it remains on the balance sheet but is now owed to him rather than Norwich Union or Barclays, or whether this means the debt has been wiped out.
"We also welcome the news that additional funds will be made available to assist a promotion push.
"Marcus Evans is a successful businessman with an international conferencing company and we would welcome discussions with Mr Evans as to his plans for the club.
"It is appropriate at this time to recognise the significant contribution of all those shareholders who invested in the club a few years ago when the club were in the poorest financial state coming out of administration.
"Without that investment and support it is doubtful that the club would be around today. All those supporters should take a pat on the back because they ensured the future of their club, particularly Holly Bellingham and Michael Spencer who made significant investment.
"The Trust welcomes the fact that Mr Evans will not own more than 90% of the enlarged share capital so that existing shareholders can continue to have an interest in their club.
"We look forward to continuing to have an involvement in the way our club is run.”
Evans's takeover is subject to contracts being agreed, due diligence being carried out and shareholder approval. An extraordinary general resolution will be put before shareholders at this year's AGM, which will now become an EGM. This has been pencilled in for December 6th.