Gamechanger 20 Ltd, the company set up by the US consortium which has been in negotiations to buy Town from current owner Marcus Evans, lodged new priority Land Registry searches relating to the purchase of the Blues’ training ground this morning.
The searches on the entirety of the Playford Road side of the training ground and part of the Bent Lane site across the road were initially put in place on February 23rd by a law firm, Gateley PLC, who made new similar searches earlier today.
A priority search is typically only carried out when a deal is either agreed or very close to being agreed.
The previous searches were due to expire on April 8th so their effective renewal rather than being allowed to lapse is at least an indication that the deal is not yet dead.
TWTD reported a fortnight ago that the £30 million takeover, which was initially expected to be completed earlier this month, had stalled and appears to be drifting. It’s understood that aspects of Evans’s valuation of the club have continued to be part of the ongoing discussion.
Among the directors of Gamechanger 20 Ltd are Mike O’Leary, the former West Brom chief executive and Oxford board member thought to be driving the deal, as well as Brett Johnson, Berke Bakay and Mark Detmar, co-owners of USL club Phoenix Rising, and Edward Schwartz, who is understood to be an Ohio-based portfolio manager.
As with the previous searches, only part of Bent Lane - which was transferred to London & Merchant Properties Limited (then known as Marcus Evans (Guernsey) Ltd) in 2011 largely for tax reasons - is included with TWTD having previously reported that Evans will keep hold of part of that land following the takeover, presumably an area which has long been ear-marked for development between existing housing.
No priority searches are required on Portman Road with the land on which the stadium stands on a lease from Ipswich Borough Council which runs until 2094.