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Town Takeover Close
Friday, 26th Feb 2021 15:05

TWTD understands Town’s US-backed takeover could happen as soon as next month.

As reported yesterday, speculation regarding a takeover at Portman Road has been circulating for a couple of weeks but is more advanced than has previously been suggested.

We understand the deal which would see the club change hands to a US-based group is worth £30 million.

Current owner Marcus Evans, who is set to write-off his debt, which will now have climbed to around £100 million, is understood to be keeping a five per cent stake in Town, presumably so he could potentially profit from a future sale if and when the Blues reach the Premier League.

It’s also believed that Evans will keep hold of some of the training ground, some or all of the Bent Lane side of the facility, with development having long been eyed for a small section of the field between already existing housing close to the road.

The ownership of that part of the training ground was transferred to another Evans company, London & Merchant Properties Limited, previously known as Marcus Evans (Guernsey) Ltd, in 2011 largely for tax reasons.

While Brett Johnson, from Phoenix Rising and FC Tucson, has entered the spotlight after following Town’s Twitter account in recent days, we understand the 51-year-old is just one of a number of investors.

TWTD understands that much of the cash will come from the pension fund for the fire and police services of a so-far unnamed US state.

Bristol City chief executive Mark Ashton has been strongly linked with the same role at Town as part of the takeover, and Robins head of operations/club secretary Luke Werhun is also believed to be wanted by the new set-up. However, there is no confirmation that either will be leaving Ashton Gate.

It’s believed that the consortium will look to bring in a new manager with The Athletic reporting that Paul Cook will be the man to replace current boss Paul Lambert.

Cook, 54, has been out of work since resigning from Wigan Athletic in the summer, having previously had spells in charge of Southport, Sligo, Accrington, Chesterfield and Portsmouth.

TWTD reported in January that Cook had been sounded out by Evans about taking over at Town should there be a vacancy.

Compensation will be due to the Latics' administrators with Cook still in contract with the Lancastrians when he departed.

Lincoln boss Michael Appleton was believed to be a target having previously worked at Oxford United with Ashton and Mike O’Leary, who along with Johnson is a director of Gamechanger 20, a company which was formed last year and is believed to be the vehicle for facilitating the takeover. Ashton is not among the directors.

However, Appleton yesterday signed a new four-year deal with the Imps and may have been less keen to move on from the division’s second-placed side even prior to penning his new contract.

Also among the directors of Gamechanger 20 is Berke Bakay, principal owner, governor and co-chairman of Phoenix Rising, who made his money from Kona Grill, a restaurant chain.

Like Ashton, O'Leary, who appears to be the driving force behind the consortium, has a background at West Brom having been the chief executive officer at the Hawthorns for two years in the early 2000s.

The takeover, which is not yet signed and sealed, would see a summer of great change at Portman Road, both on the field and off it.


Photo: Matchday Images



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MonkeyAlan added 09:52 - Feb 27
Evans isn't going to sell. What the fcku is his motive on staying? He has already b@llsed the club up. I just can't fathom the man's intentions out.
1

jon_talbot56 added 10:05 - Feb 27
I can't join in with the general euphoria. I understand why people feel relieved and all supporters by definition are optimists but there are good reasons to feel wary. Football clubs rarely make money which is why historically they were owned by local worthies who saw it almost as a civic duty. Marcus Evans has lost a fortune but it is his money to lose. It worries me that the potential owners have interests in commercial property because a great deal of what they are buying is real estate. Be under no illusions- the new owners interests are purely commercial. They have no emotional attachment to the town or the club. For them we are simply one of many assets. This is not to say that a more professional approach to running the club is a bad thing or that we cannot possibly succeed under the new regime. But never forget in their eyes we are just a commodity.
5

stiffy501 added 10:43 - Feb 27
Well i look at it this way, there is no sign of this club going anywhere under the present owner / management and the friendly family club batting above its average image went when Evans took over the helm and turned the club into a corporate operation.
Could it really be any worse ? There is a chance of better things, there is hope ! so its a yes from me !!!!!
3

HKitfc added 11:37 - Feb 27
Can't believe the negative comments. Can it be worse? The club is in freefall in all areas. Sure the consortium could come in and fail... But the club is failing anyway! Where do you think the club will be in 5 years fine under Evans? He has given up. That's very clear to see. I very much doubt we will be as high as we are now!

Sure the consortium is in it for the money. In an established business there's two ways to make money:
1. Buy a business for less than the sum of its assets.
2. Improve the business so someone wants to buy it for more money.

1 seems not to be possible given that there are barely any assets. We haven't even got a star player to cash in!

Thus they need to improve the business.
6

dirtydingusmagee added 11:54 - Feb 27
just hope we get out of this poxy league, That will be a good start to a new regime, if they want to sell for a profit they will need to make massive changes all round. I know the new broom saying, but this club really, [really really ] needs it. Hopefully and assuming it happens, we will see a reverse in fortunes and have something to cheer about.
0

htb added 12:14 - Feb 27
Kalamazoo the club debt is owed to Marcus Evans some of it he bought from Aviva approx 32m which he paid 6 or 7m for. He then kept the full 32m on the books of Marcus Evans group and charged the club each year, which effectively increased the debt and of course the club trades at a loss which goes further to the debt which now stands at near 100m. This is not the amount Mr Evans has put in but undoubtedly he has lost a lot of money which he has no realistic chance of making back unless he was willing to invest say a further 50m which he clearly isn't. So the best thing he can do is sell the club for as much as he can which will go someway into clawing back some of the money he has lost. He will then just write off the debt owed to Marcus Evans Group.
-1

TimmyH added 12:38 - Feb 27
@jon_talbot - in real estate as an asset you can only be talking about the training ground as I believe Portman Road stadium is owned by Ipswich Borough Council.
0

madmouse1959 added 12:51 - Feb 27
Hopefully the club can get the love back into this club. The supporters feel part of a new outlook. The Evans neglect is over. The Evans and Lambert rift with supporters is finished.
1

Michael101 added 13:20 - Feb 27
Kalamazoo.Evans is not weighting off 100million he's getting 30 million .when he brought itfc he paid 6 million to right off the 32million owed to the bank.
0

LWNR2013 added 13:27 - Feb 27
TimmyH. I believe you are correct.

Buying ITFC gets you the brand and goodwill in the form of a fan base, but limited fixed assets. But this is me thinking out loud and possibly completely wrong.
1

dirtydingusmagee added 13:46 - Feb 27
dont count your eggs yet, the deal is never done till pen and paper !.
0

DaGremloid added 13:55 - Feb 27
I'm just not sure about this. And Paul Cook? Do me a favour. Totally underwhelming choice.
2

StavangerBlue added 14:11 - Feb 27
Sorry guys. I do not think this is even a possibility. Prepare to be disappointed. Marcus will still be here next year.
0

Ebantiass added 14:54 - Feb 27
Not sure about this,all i wish for is to halt and reverse our freefall through the leagues.
0

Razor added 14:55 - Feb 27
Bluedandy is spot on----there is potential for MASSIVE GROWTH at this football club---our averagre gate was 24,00 0 BACK IN THE SEVENTIEs and we have our training ground back.


If a pension fund is involved that should give us more security as no way will they want to mess up.

Only problem is Paul Cook-----no no no, it must be a proper manager who has been there and done it---EDDIE HOWE NOW!!
1

londontractorboy57 added 15:22 - Feb 27
Pension funds need a return this isnt going to happen calm down.
1


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