Town Sponsor Sold - Ipswich Town News
Town sponsor TXU has sold its UK operation to Powergen for £1.37bn. The US-based energy company have been in financial trouble recently and are negotiating with creditors regarding the feasibility of continuing as an enterprise.
Included in the sale are what were formerly known as Eastern Electricity and Norweb. Powergen are owned by German company Eon.
TXU employs 1,900 staff in Britain and and supply power to 5.5 million people.
It is likely that Powergen will revert to the use of their own name which could have an effect on Town's shirt advertising.
TXU Energi signed a three-year sponsorship deal with Town in the summer of 2001. The deal was worth £4m-£7m depending on the Blues' fortunes over the period.
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