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Solicitor: Land Registry Priority Searches Suggest Takeover Close
Monday, 8th Mar 2021 15:18

An Ipswich-based solicitor believes the Land Registry priority searches lodged by Gamechanger 20 Ltd - the company set up by the US consortium in the process of buying the Blues - are a strong indicator that a conditional contract relating to the takeover is already in place or the deal is close to being concluded.

As TWTD revealed last week, Playford Road is the subject of a priority search regarding an intended purchase by Gamechanger 20, which was lodged on February 23rd by a law firm, Gateley PLC.

The Bent Lane site - which was transferred to London & Merchant Properties Limited (then known as Marcus Evans (Guernsey) Ltd) in 2011 largely for tax reasons - is subject to a similar search but only in respect of part of the site with TWTD having previously revealed that owner Marcus Evans will keep hold of part of that land following the takeover, presumably an area which has long been ear-marked for development between existing housing.

Among the directors of Gamechanger 20 Ltd are Mike O’Leary, the former West Brom chief executive and Oxford board member thought to be driving the deal, as well as Brett Johnson, Berke Bakay and Mark Detmar, co-owners of USL club Phoenix Rising, and Edward Schwartz, who is understood to be an Ohio-based portfolio manager.

Paul Munnings, a commercial property associate at Ipswich-based solicitors Prettys, has written a blog in which he assesses the significance of the searches, having also posted on the subject on the TWTD Forum.

“Priority searches have been lodged through HM Land Registry by a national law firm in favour of their client Gamechanger 20 Limited regarding three parcels of land — the club’s Playford Road and Bent Lane training centres on the outskirts of Ipswich which are owned by Marcus Evans Group,” he writes.

“A priority search is typically only carried out in the immediate days before an exchange of contracts so this is likely to mean that a conditional contract for the takeover of the club is already in place.

“The fact that the searches remain on the register at the time of writing suggests a deal has likely been agreed or is imminent and may be announced by the English Football League in the coming days.”

As previously reported, the deal has already progressed to the EFL for their ratification.

Responding to the comments made in the blog, a Town spokesperson told Suffolk News: “Marcus Evans issued a statement to supporters last week and we have nothing further to add.”


Photo: Matchday Images



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Bergholt_Blue added 15:23 - Mar 8
🤞🤞
8

90z added 15:33 - Mar 8
Let's hope none of this running in the background distracts the players. We need wins & a consistency from now until May!
5

itsonlyme added 15:35 - Mar 8
I really hope this is true and not another let down. Hopefully we will get the investment needed to rise from the ashes.
9

Steve_ITFC_Sweden added 15:44 - Mar 8
Reading a bit of info about the little Danish club, Helsingør, who this consortium are also said to own, it seems that they are quite keen on bringing in some American players to play in Europe. That would be an interesting development if it was feasible.
1

slimjim added 15:53 - Mar 8
So Steve does that mean the consortium pick the team and not the manager - just a thought ?
0

BromleyBloo added 16:13 - Mar 8
🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏!!!
3

Bluearmy_81 added 16:34 - Mar 8
Please let this happen. Without a new owner Ipswich Town have little hope of ever getting back to where they belong. Evans won't change his spots...
10

hadleighboyblue added 16:52 - Mar 8
Just hope any change of ownership won't affect Paul Cook , he is like a breath of fresh air , just what we need to get good times back to ITFC .

5

fistpumpfury added 17:00 - Mar 8
Soccer ball coming to a Yankee stadium near you....
-4

BlueandTruesince82 added 17:25 - Mar 8
Steve, they don't own the Swedish club, just a minority stake Inthink. That's not to say they won't be keen on promoting American talent but personally I have no issue with that. Logic says purely due to numbers there must be untapped talent there esp with the game still developing over there..... provided we don't get flooded with them.

0

Suffolk_n_Proud added 18:01 - Mar 8
I have horrible visions of them selling the training ground to developers to make money then renting somewhere else to train. Thankfully IBC still own the land port man road is on
-2

blues1 added 18:20 - Mar 8
If u bothered to read any of the stories on here, ud know that a small part of the training ground has already been cleared for building. That's the part Evans will keep. The rest is what theyre buying. Why would they buy the training ground, simply to sell it. Theyd just leave it with Evan's.
-4

Bluearmy_81 added 18:28 - Mar 8
Your down vote must mean you're happy/content with league 1 mediocrity Blues1?! After a generation of failure, neglect and underachievement you think things will magically change without change at the top?! 🤔 Biazzare...
6

bingboast added 18:36 - Mar 8
Hadlieghboyblue, were you not one of the fans that said exactly the same thing when Paul Lambert arrived ?
0

muccletonjoe added 18:55 - Mar 8
If it was already with EFL , the plan , the offer , and Marcus Evan's acceptance is already in place.
There is no way that is the case atm. No matter what any solicitor says.
0

rabbit added 07:03 - Mar 9
Bluearmy-81 you are suggesting that a down vote to your comment indicates something against what a supporter of ITFC wants to see for the team they support.
Maybe it's because few people understand, as you appear to, the ramifications, going forward, to a new consortium taking over the business.
Please share your insight, rather than a totally uneducated comment of anything is better than what we have type idiocy.
Tell us what you know about the financial ability and the long term plans or at least tell the uninitiated among us where to look, your continual comments on the current regime suggests you actually believe you are a business man of high order so help the rest of us out.
We are all aware that ITFC have declined dramatically since their demise from the PL.
1

Bluearmy_81 added 08:54 - Mar 9
There are clearly unknowns but some of you must be scared of your own shadow if you fear a US consortium who's goal is to sell ITFC at a profit (that means one promotion at least) more than the idea of x more years of Evans disastrous tenure. Mind blowing...
0

Gilesy added 10:48 - Mar 9
But you're relentlessly dismissive about other people's views. They might be well-justified and have been given more thought than you ever offer in yours. I have no doubt you have strong views on the matter, but you never offer anything other than the merest of soundbites.
0

Raffles added 11:16 - Mar 9
One aspect not mentioned is that the consortium seem to be interested in development that includes sports stadiums, and that may well be part of their interest here. The area around Portman Road is bleak and windswept and the Borough Council are aiming to develop it already. Given that the council owns the ground anyway, if there is traction in this story then it would be surprising if they and the proposed consortium weren't already in touch.
0

dirtydingusmagee added 11:25 - Mar 9
Willy Wontey ,
0

Bluearmy_81 added 12:22 - Mar 9
Giles, football engenders strong opinions. We may agree, we may disagree, but I'm never abusive. How anyone can wish for more of the same from the last 14 years baffles me but like I say we're all different.
3

Bluearmy_81 added 12:27 - Mar 9
Interesting though how all the negative, fatalistic fans who spouted "we'll never be bought, who'd want to buy us..." etc were wrong though isn't it! That was justification for their inertia, apathy and passive acceptance of the terrible state the club was in. Hate to say I told you so but... Fans don't need plans or to solve all issues in order to be able to say this isn't good enough, there needs to be change... That message alone from fans will always be valid and relevant when it is voiced...
2

itsonlyme added 13:20 - Mar 9
Well said bluearmy81! This club has been slowly rotting on the inside since ME took over basically. We fans deserve better. We should not be has-beens in this awful division. I know we have no Devine right but come on we deserve so much better and if a new consortium is the answer, well brilliant if not we look elsewhere, either way ME needs to go!
3

BeattiesBackPocket added 13:47 - Mar 9
When evans bought the club 14 years ago we were championship playoff challengers whilst AFC Wimbledon were in the isthmian non league. 14 years later they've risen up through 5 leagues and now in the same league as us. Which club has improved in 14 years and which club has stagnated and fallen to its lowest league position during that time? And some people are worried about new owners?? Really?? We need a fresh injection into the club evans has made far too many mistakes that he is constantly forgiven for and the same time every year when season tickets are talked about we get a statement of intent from him again. How many more years to people want words and no action?? I supported him blindly until about 3 years ago but not any more.
2

Gilesy added 14:15 - Mar 9
You're not abusive. I will give you that!
0


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