Town chairman David Sheepshanks has welcomed the club's creditors' acceptance of the Company Voluntary Arrangement (CVA). At a series of meetings this morning 98.2% by value voted for the financial restructuring plan.
Sheepshanks told the club site: "I am very pleased that our creditors have agreed to accept the voluntary arrangement put before them today thereby facilitating the rescue of the club.
"Their approval of the scheme now enables us to move forward to the recovery stage, allowing us to attract new investment and Joe Royle to build a team that can challenge for promotion to the Premiership.
"Understandably many of our unsecured suppliers and creditors may still feel aggrieved at the situation they found themselves in and by the size of the offer put before them by the administrators this morning. I regret terribly the hardship that our creditors have suffered and, on behalf of the directors and the club, I can only apologise again for the pain they are suffering.
"We tried by all means to avoid administration in the face of unprecedented and adverse circumstances. Subsequently we have sought to gain the best deal for all creditors and avoid what may have been a simpler alternative of forming a new company, which would have left everybody worse off.
"I believe that today's proposal offers creditors the best possible return whilst protecting the livelihood and future of this football club. I would like to thank all creditors across the board who have supported our business plan for recovery and their recognition of the importance of a strong Ipswich Town to the community.
"The next few weeks are pivotal for the club's future. It is now imperative that we attract strong support for season tickets, debentures, commercial sponsorships and investment in the club. This is vital to underpin our business plan, and to satisfy the requirements of the Football League in returning our share certificate.
"Today's acceptance of the CVA is good news and a major step forward in reviving the fortunes of Ipswich Town Football Club but there is still a great deal of work to be done."