x

Anderson Cash Returned - Ipswich Town News

Town have returned Florida-based businessman Michael Anderson's investment in the club. The Blues withdrew their offer of a directorship last week after revelations that the 52-year-old Londoner had previously been on the boards of Aldershot and Kettering in the early 1990s.

Chairman David Sheepshanks told the club site that after talks with Anderson it had been decided that the £500,000 investment would be returned: "The board has considered the position with regard to the proposed share investment by Michael Anderson.

"I have subsequently had a further discussion with Michael and we have mutually agreed that it would be in the best interests of all concerned that the money deposited with us be returned to his company [Flairford Inc, in whose name Anderson bought his 15% stake in Town].

"This is made possible by virtue of the fact that the shares had not yet been issued or registered. Therefore Michael Anderson will neither be a shareholder nor a director of Ipswich Town Football Club.

"This whole episode has been highly regrettable. The invitation and investment were made and accepted in good faith, however, following the events of Friday I feel strongly that this decision will be best for both parties.

"It is important to emphasise that additional investment was made at the same time as Michael Anderson's and that the club can afford to make this repayment without adverse affect on the playing squad.

"This episode aside, the club is in a much stronger position than was the case a week ago. Agreement has been reached with our three lenders that will enable a consolidation of the squad over the coming two to three years, and other new investment has been made.

"Our new striker Alan Lee has been acquired and we saw a spirited and stirring performance on Saturday from both players and crowd alike that bodes much better for the future. Now we move forward."

Sheepshanks said on Friday that the club will continue to look for new investment with another share issue likely in the not too distant future.

What to read next:

Grant Talks With Huddersfield Ongoing
Talks between Blues first-team coach Lee Grant and Huddersfield Town regarding their management vacancy are ongoing, TWTD understands.
Norwich Target Long-Serving Town Academy Coach Klug
Long-serving Blues academy coach, former assistant boss and three-time caretaker-manager Bryan Klug is being targeted by Norwich City, TWTD understands.
Town XI to Face Lowestoft in Pre-Season
A Town XI will play a pre-season friendly against Lowestoft Town at Crown Meadow on Saturday 5th July (KO 3pm).
Chelsea Strong Favourites to Sign Delap
Chelsea are now the strong favourites to sign Blues striker Liam Delap, TWTD understands.
Chaplin: The Club is in a Much Better Place Than it Was a Year Ago
Town will return to the Championship in a much better place than they left it a year ago, according to forward Conor Chaplin.
Phillips: McKenna Made Me Believe in Myself Again
On-loan Blues midfielder Kalvin Phillips, whose spell at Portman Road is up now the season is at an end, has said his goodbyes and says Town manager Kieran McKenna made him believe in himself again.
Luongo: Together We Have Created Incredible Memories
Exiting Town midfielder Massimo Luongo has thanked everyone at Portman Road having created “incredible” memories together during his time at the club.
Town Bookies' Early Favourites For Championship Title
Town are the bookies’ early favourites to win the 2025/26 Championship title.
Town Coach Grant Linked With Terriers Job
Blues first-team coach Lee Grant is reportedly among the options to take over as manager at League One Huddersfield Town.
Enciso: Thanks For Supporting Me and For the Love
Departing loanee Julio Enciso has said his farewells and thanked everyone at Portman Road following his half-season spell at the club.