Town Rubbish Claim Club Up For Sale
Wednesday, 5th Dec 2018 16:05
Town have dismissed claims that owner Marcus Evans has put the club up for sale for £35 million.
Quizzed on the report, which appeared in The Sun this afternoon, a Blues spokesman told TWTD: “It’s rubbish.”
The story claims Evans has put the club up for sale at £35 million but is not prepared to write off the debt which stood at £95.5 million at the end of June 2018, according to the Financial Highlights document issued to shareholders yesterday.
That would be a surprise even if there were any truth in the story with the club having previously said on a number of occasions that Evans’s loans weren’t made with the expectation they would be paid back.
As has been the case with other clubs in similar positions, such as Bolton Wanderers in 2015, the loans which make up most of the debt would almost certainly be written off in order to facilitate a sale.
Speaking about his continued ownership of the club, which he took control of 11 years ago, when speaking to iFollow Ipswich in April, Evans outlined his position.
“If I didn’t feel we had a chance [of winning promotion], then, yes, it would be time for me to move on,” he admitted.
“But I’ve got no desire to sell, I think the plan that I’ve got in place has a chance of success and I want to be here to carry out that plan.
“But money is always going to make a difference and more money in this league would give us a better chance, particularly if it’s spent wisely and particularly if someone came along who could do a better job, had the personal and financial credentials to do a better job, I’d always do what’s right for the club.
“I suppose I’m in the fortunate personal position where I don’t have to recoup the investment I’ve made in the club.
“So, I suppose, yes, if the right person came along, offered the right prospect for the club, it would be wrong for me to stand in their way and I’d have to look at that very seriously.
“But I have to be honest with you, I’m not too sure why, but I haven’t seen too many Chinese or Russian oligarchs racing up the A12 in the last few years.”
Meanwhile, football finance expert Kieran Maguire has assessed the Financial Highlights document released yesterday in a series of tweets, which can be found here.
Maguire says what should be of greatest concern is the potential drop in media income if Town are relegated to League One.
Last season this totalled £7 million, almost half the club's income, but would drop to around £700,000 in the third tier.
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|dukey44 added 17:59 - Dec 5|
Mmm no comment I think on this one..
|IpswichToon added 18:39 - Dec 5|
For people commenting on these quotes in the story, these are quotes from the interview at (or near?) the end of last season - the very interview that is shown in the thumbnail! The club was a much better prospect for purchase at that point in time. So don't bother trying to read between the lines about some old quotes.
|TimmyH added 19:10 - Dec 5|
“But I’ve got no desire to sell, I think the plan that I’ve got in place has a chance of success and I want to be here to carry out that plan. - What plan is that then?...certainly not the infamous 5 point plan which has been dumped!!...his plan's change from season to season and very rarely adhered to.
|Sourdough added 19:11 - Dec 5|
ITFC is worth the usual, symbolic £1. The whole, sorry, insolvent mess for a hundred pennies.
Sounds cheap, but it would take a crazy person to pay it.
|tractorboybig added 19:13 - Dec 5|
surely..with the debt we are in...who the F would want to buy the club. sad point is even if I won a mega mega euro lottery could I afford to keep it??xx
|BlueandTruesince82 added 19:15 - Dec 5|
I guess you have far better coverage up there but i keep reading Ashley is on the verge of selling Newcastle for 200 to 300 mil?
|stiffy501 added 19:17 - Dec 5|
Can anybody explain this debt situation ?
I understand Marcus bought this debt for a minimal amount, the debt has been serviced by the club since he acquired it, i assume that means payments to him have been made ?
If the club was sold is the debt written off ? (can't see anyone taking it on )
Also heard that ownership of Playford Rd was transferred to one of his companies, where doe's that leave the club re assets ? or is this all just rubbish, i'm going down the pub !!!
|Taricco_Fan added 19:19 - Dec 5|
Everything is for sale for the right price. If I was in Evans' position I would want rid ASAP. Trouble is, nobody is going to buy a soon-to-be League 1 club that doesn't own its stadium for the sort of money he would be prepared to sell for.
If Evans does wish to sell - and I suspect he does - then he may have to speculate to accumulate in order to build the club back up. A decade of financial neglect has come home to roost.
|TimmyH added 19:27 - Dec 5|
"Maguire says what should be of greatest concern is the potential drop in media income if Town are relegated to League One.
Last season this totalled £7 million, almost half the club's income, but would drop to around £700,000 in the third tier."
it's like equating going to a night club all after shaved up, flash clothes with all the swagger looking to pull the fittest bird, after failing returning a week later with lower expectations and trying to pull the girl next door type, not the prettiest by a nice person and also failing and then living in fear what's might happen next is that the one propping up the bar with a silhouette that blanks out the strobe lights, and downs pints could be eyeing you up...
that about sums ITFC up over the last 10 years!
|Bert added 19:31 - Dec 5|
I wonder whether Norwich and Southampton supporters were so ungenerous about their club and owner when they were in trouble and heading for relegation to League One. Colchester has an average gate of a little over 3,000 and is funded by an individual yet look where they are. We are not too big to go down but with such fickle supporters on TWTD , Evans must surely wonder is it worth the hassle. Hardly an advert for an incoming owner unless they are of the Leicester ilk. It may feel like mission impossible but it is more doable than Brexit with supporters behind it.
|J45 added 20:41 - Dec 5|
Don’t care if Evans is there or not to be honest. My football club was here long before him and will be there long after he is gone, whatever state he decides to leave it in.
Some posts are spot on in terms of being positive, I went to forest on Saturday and I can tell you now it was nice to be surrounded by proper Ipswich fans, no moaning, no knocking the team, just 90 mins of getting behind them. Let’s face it things are bad and they can still get worse but for gods sake let’s do it fighting the opposition not each other!!
13,000 against Bristol city in what was one of the biggest games in our season. Credit to those 13,000 but where did everyone else go?
Yes it’s expenisive I completely understand all that but if we were top of the league people would find the money (not all but more than 13,000). If you are an Ipswich town supporter now is the time more than ever to prove it and support, get down to PR and back them non stop.
In terms of Evans I am bored of saying the same things about him. He doesn’t care like we do!
|boltzak added 20:41 - Dec 5|
Why would anybody pay £35 million to buy a£95 million debt?
|DoseOfReality added 20:52 - Dec 5|
Stiffy501 good question !!
How can we be in administration where debt was agreed to be written off but we end up staying in debt but owing money to Evans because he ‘bought’ the debt. Was that in clubs best interest or his...? I don’t get it .. surely it would have been better to have debt written off ...
If true Playford Rd been transferred then it’s pretty obvious why he got involved & it’s got nothing to do with football.
|wayway added 21:06 - Dec 5|
Sounds like someone from the PLC is putting the feelers out. I think they want out before relegation. Someone contact the owners of Felixstowe Port, that would be a good fit
|RobinHood added 23:34 - Dec 5|
Would it not be great if somebody like Greene King bought our Club. Buying it as an investment and a very good source of advertising. Greene King - Pride of East Anglia.
|hyperbrit added 01:39 - Dec 6|
...business speak...he wants out and sent potential buyers a trial balloon!!
|Northstandveteran added 06:12 - Dec 6|
I remember excitedly texting my fellow town fans that a billionaire was about to buy the club, having visions of European football and challenging for trophies.
The biggest anti climax since my wedding day.
|Steve_ITFC_Sweden added 06:18 - Dec 6|
I'm not sure which source is the most (or rather "least") credible: The Sun or A Blues' Spokesman! "No smoke without fire" comes to mind.
|Barty added 08:24 - Dec 6|
Its a misprint - it should read £35
|DJ27 added 08:53 - Dec 6|
I'm not ME's biggest fan, I think as owner of the Club, he should be more visible and vocal. However, those that keep saying he hasn't invested enough and should invest more, he has invested to the tune of £95 million over 10 years that he doesn't want back? He has invested that just to keep the club afloat. So it's ridiculous for fans to keep saying he is pocketing the profits, what profits?!! The club was on it's back side when he came along. I don't see many other investors queuing up to take on a 'money pit'.
The issue ME has had, is that 10 years ago investing £8-£10m a year was a huge investment and could be competitive. Unfortunately football has gone money mad and these days £10m a year is peanuts even for the Championship.
So the question is, do we chastise him for not investing more in current times or do we thank him for saving the Club 10 years ago and continue to keep us a float? I think the reality sits somewhere in between.
But one thing we must do now is unite as Lambert quoted, we will never get anywhere with in house bickering. We need everybody on side, to get us out of this hell hole of a mess we are in. I for one still believe we will get out of it, even if we lose to Stoke.
|RegencyBlue added 08:59 - Dec 6|
My understanding is that the ownrship of Playford Road was transferred to one of Evans other companies years ago. He also tried to buy the land the ground is built on from Ipswich Borough Council but they wouldnt sell to him.
Tells you all you need to know about his priorities!
|Gcon added 09:05 - Dec 6|
Well, that's a shame.
|rozeeboy added 09:20 - Dec 6|
I also read this as "Town: Rubbish Club for Sale" :-D
|Michael101 added 09:27 - Dec 6|
I was interested in this story until it said in the SUN.
|stewartm added 10:54 - Dec 6|
Evans has f,cked this club from top to bottom and to those that called him the “saviour” f,king shame to you!
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