Town have revealed their new sponsors as TXU Energi, part of the same group as Eastern Energy, as rumoured here yesterday. The company is part of the TXU Europe group along with Eastern and Norweb. The deal will cover three years and could be worth up to £4 million.
The basic deal is for £4 million over the three-year period with payments roughly equal although adjusted for inflation. The further £3 million will be paid in bonuses dependent on Town’s performance in the League, cups and in Europe. No further details were revealed.
David Sheepshanks said that TXU had a similar outlook to Town: "We share a similar approach, an ambitious local brand to a national brand and then on to an international brand.”
Roger Partington, Vice-President of TXU said that his company were "absolutely delighted” with the deal. TXU Energi is a new brand they are launching to sit alongside their existing brands across Europe. He added: "TXU Energi sits well alongside Ipswich in Europe.”
Sheepshanks agreed saying: "The brand image of Ipswich Town is increasingly well thought of. It is important to have the right partners to further this reputation.”
Both Sheepshanks and Partington extolled the local links the company has with their Russell Road building next door to the ground. Of the local links the Town chairman said: "Previous sponsors have all been regional; Greene King, Fisons, Radio Orwell. The last which wasn’t was Pioneer. It was not an absolute prerequisite but highly desirable.”
Sheepshanks pointed to Eastern Energy’s previous sponsorship of the club’s Community Project as showing TXU’s long-term interest in the club. Asked whether the money would go to George Burley for spending on players he replied: "The more money we make, the more we can dedicate to the team.”
The shirt (picture on the site later today) will bear the logo of TXU Energi in all white. Marcus Stewart was at the ground for a photocall.
Sheepshanks said of Town’s change in financial fortunes over the last year: "These are incredibly exciting times at Ipswich Town and a tribute to all the hard work of George Burley, his coaches and players as well as the non-playing staff who have contributed so much. Financially we are a completely different business to that of five years ago with turnover rising from £5 million to in excess of £30 million in the current season. The growing support and national interest that Ipswich Town now enjoys has attracted TXU to increase its support for us, building on its existing sponsorship of our community programme. We look forward to a bright future together."
Roger Partington, who admitted that although not a Town fan, he was "rapidly becoming one” added: "We share their drive for success and know we both have what it takes to remain at the top. We traditionally have a strong presence in the area and it makes good commercial sense for us and Ipswich Town to link up."
Many fans who bought away shirts during this season may be disappointed that their shirts are to be out of date so quickly. The club however, will seek to present some kind of discount on the new shirts, although details had yet to be fixed according to Commercial Director Paul Clouting.
Of other sponsorships Paul Clouting said that the new sponsors of the South Stand would be known by the beginning of the new season. The favourite for this is old shirt sponsor Greene King. Rumours of a second shirt sponsor for European competition proved to be merely that.