Ipswich supporting City investment banker Peter Morris says he wants to replace David Sheepshanks as chairman of the club. Morris, who lives at Shotley, says he is unhappy at the way the club has been run and is after a place on the board.
Morris is the Head of Global Operations for Commerze Bank and is not pleased with David Sheepshanks' running of affairs at Portman Road: "I am not happy with many of Mr Sheepshanks' explanations as to why the club had to go into administration. One day he is telling us Ipswich is a model of how a club should be run, the next it is in administration.
"There are many of his decisions which must be questioned, for example why build conference and banquet facilities then find out there is not a demand? The market research should have been carried out beforehand.
"He blames all the ills of football on Ipswich Town's situation without accepting any of the blame himself. I question the way the club is run.
"I would very much like to be on the board to give a fan's voice and not merely to be a yes man or pay homage to the chairman. I believe he needs to be challenged and I will do so at the first opportunity."
Morris was present at the recent Supporters Trust meeting at the Corn Exchange and asked a number of questions. He moved to the area eight years ago and began watching Town soon after. Morris is said to be wealthy although by no means in the Jack Walker league.
He says he expects an exodus from the board after after the CVA is agreed and the club comes out of administration. It is at that point he feels he might be able to gain a position on the board.
Chairman David Sheepshanks says that everyone is entitled to their opinion but feels that now is a time when the club needs to oull together: "If someone has substantial resources it would be best if they were put together with the funds that we are raising ourselves. Ipswich Town Football Club is desperately dear to my heart but it is bigger and more important than any one individual.
"My prime objective us to see the club refinanced as strongly as possible. I cannot see how the club's interests are going to be served by rival factions."
Sheepshanks feels it would be better for all parties to pull together and he says that he has made contact with several prospective larger investors and urged anyone else interested to contact the club.
The club's refinancing plans involve a share issue planned for the late summer, a loan stock and a debenture scheme where a limited number of supporters can buy their seats for 10 and 20 years.