Spencer Buyout Denied - Ipswich Town News
Chief executive Derek Bowden says there is no truth in a Times report this morning claiming that city businessman Michael Spencer is negotiating taking a majority stake in the Blues. Spencer, founder and chief executive of Icap PLC, the world's biggest inter-dealer, is currently one of the club's largest shareholders.
Bowden told TWTD: "This morning's report is purely speculation, no talks have taken place regarding Michael Spencer taking a majority stake in the club."
Spencer, who has a home near Woodbridge, invested £200,000 in Town's share issue in 2004 and added to his stake earlier this year. He now owns 15% of the club, making him Town's joint-largest investor along with director Holly Bellingham.
A long-term friend of Town chairman David Sheepshanks, Spencer owns a quarter of Icap ("Specialist intermediary broker service to commercial banks, investment banks and other liquidity providers") and his personal fortune is believed to be around £370 million.
The 51-year-old, a backer of Conservative Party leader David Cameron, is not understood to be a big football fan and is said to be an occasional visitor to Portman Road rather than a regular.
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