x

Mystery Investor? - Ipswich Town News

Reports over the weekend claim a mystery investor was at Portman Road on Saturday to watch the Blues defeat Sheffield Wednesday 2-1. The story emerged just a day after chairman David Sheepshanks indicated that he and chief executive Derek Bowden are actively looking for investors to lend a hand with the club's still difficult financial situation.

According to the report, a car was followed into the ground by TV crews and a man was hurried into the reception area where he was greeted by officials from the club.

At the end of last week chairman Sheepshanks perhaps hinted that new investment might be on the way in an interview with the club site: "We continue to look for investment in the club but what we are seeking is not any 'sticking plaster' solution but long-term security.

"Any major new investment in the club would have to meet certain conditions and the existing shareholders and supporters would have to approve.

"First of all, it would need to be a significant investment and would have to be in the long-term interest of the club. They would need to respect the fact that we are a community-based club and want to retain that."

The club's debts still total £35 million despite £8 million having been written off when the club went into administration in 2003.

Town have never ruled out investment from outside but chairman Sheepshanks has always been keen to avoid 'unfriendly' advances and limited any single investment to 15% at the time of the share issue, although the board were able to waive this if an investor was considered "benign".

Since then it is understood that board member Holly Bellingham's stake in the club has risen to a level where it would be marginally above 15% were her loan notes to be converted into shares.

Contrary to reports elsewhere, the club would not be able to prevent any individual from taking their stake in the club above the 15% level if they wanted to buy shares directly from the 3,300 shareholders.

Last week also saw the club reveal that they are close to securing a £100,000 sponsorship for the North Stand.

What to read next:

Leicester City 2-0 Ipswich Town - Highlights
Highlights of this afternoon's 2-0 defeat to Leicester City at the King Power Stadium.
Taylor: It's Up to Us to Take Accountability For Not Taking Our Chances
Town midfielder Jack Taylor believes the Blues did not deserve the reception they received following the 2-0 defeat to Leicester City at the King Power Stadium.
[Podcast] Blue Monday - New Podcast Now Online
A new podcast from the Blue Monday team is now available.
McKenna: With the Chances We Had Today, You Should Win Two Premier League Games
Town boss Kieran McKenna felt his side created enough chances to win two Premier League games as they were beaten 2-0 at Leicester City and admitted it was a frustrating way to lose.
Leicester City 2-0 Ipswich Town - Player Ratings and Reports
If you saw the match, please give us your player ratings and a mini match report.
Leicester City 2-0 Ipswich Town - Match Report
Town dropped to 19th in the Premier League table after a 2-0 defeat to Leicester City at the King Power Stadium with Jamie Vardy scoring his 200th goal on his 500th and final appearance for the Foxes, who move above the Blues. Vardy saw the home side into the lead in the 28th minute, then Kasey McAteer adding a second on 69 with Town creating plenty of chances throughout but unable to take any of them with Leif Davis going closest when he struck the post in the first half and had an effort ruled out for offside late on.
Leicester City 1-0 Ipswich Town - Half-Time
Jamie Vardy’s perhaps inevitable goal on his final appearance for Leicester City has given the Foxes a 1-0 half-time lead over the Blues at the King Power Stadium.
Leicester City v Ipswich Town - Chatroom Open
Join us in the chatroom to discuss the game as it unfolds with hundreds of other Town fans.
Four Changes For Town at Leicester
Town boss Kieran McKenna has made four changes for this afternoon’s game against Leicester City at the King Power Stadium with George Hirst, Leif Davis, Jens Cajuste and Jack Clarke returning to the XI.
Leicester City v Ipswich Town - Predictions
Have you predicted the Leicester score yet? Thirty seven per cent of TWTD members are predicting a Town win this afternoon, 40 per cent a draw and 23 per cent are predicting a home win. The most commonly predicted result is a 1-1 draw with Delap scoring first, but what do you think?