By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions. We in turn value your personal details in accordance with our Privacy Policy.
Please log in or register. Registered visitors get fewer ads.
Town Buy Former Owner Evans's Remaining Shares Monday, 19th May 2025 20:38
Blues chairman and CEO Mark Ashton has revealed the club recently purchased Marcus Evans’s remaining shareholding, ending the former owner’s association with the club.
Evans owned Town from 2007 until the Gamechanger 20 Ltd takeover in 2021 - and wrote off £100 million in debt to faciliate the deal - but kept what at the time was a five per cent stake, as well as some land at Playford Road, which the club bought back late in 2023.
As the new owners pumped in further cash in the intervening years, Evans’s shareholding was diluted down to only around one per cent with the former owner a silent partner with no involvement in the running of Town. As of 17th April this year, Marcus Evans Worldwide Holdings (IOM) held 420 non-voting shares.
Now, Ashton has revealed at this evening’s End-of-Season Dinner at Milsoms Kesgrave Hall that the club has purchased Evans’s remaining shares, finally bringing the conferencing millionaire’s unhappy 18-year association with the Blues to a close.
Mark Ashton has confirmed this evening that the Club recently purchased all of the remaining shareholding from former owner Marcus Evans. pic.twitter.com/KA6diam0nv
A low bar, but that is by a huge margin the best news of this season. A chancer, a charlatan, a stain on this clubs history, and forever the man that broke Ipswich Town Football Club.
He wrote off £100m in debts that were owed to himself (because he charged 10% compound interest on the £35m of debt that he bought off the banks for just £7m!) so in effect he paid £7m for the debts that he then tried to make £93m from in interest payments to himself - good riddance!
We should be so grateful to our American friends buying the club when they did.If it wasn't for them ,we would undoubtedly be stuck in league two right now.
Regencyblue. There are no apologists for him. However, whether fans like to admit it or not, he did save the club when he bought it. And kept it afloat all time he was here. Clearly he never had enough money to do waht us fans would hsve wanted him to, and we all know the rest, of how he allowed tge club to decline. Bit he did also , let's not forget, write of £100m of debt owed to him. We should also remember tgst it was Sheepshanks who originally got us into financial trouble, and then chose Evans as the person to sell to.
Regencyblue. Cont'd. Unfortunately during his tenure Evans made some awful decisions, not sacking Mccarthy after thd Lincoln fa cup defeat, giving Lambert a 5 year contract in the middle of a terrible season, aswell as generally runningvthe club into the ground. Hopefully now tho, under the great ownership we have, no1 will ever feel the need to mention Evans in here ever again.
Blues1 As a condition of admin. the club had to be run in the bkack,this it was doing, But that condition meant ITFC had no access to capital. Evans took a punt, put some money in, and employed a useless inexperienced team around him after getting rid of all the experienced people, then after that unsurprisingly failed he ran the club into the ground. Did not save ITFC, in fact the complete opposite nearly destroyed us.
Good riddance. Huge protracted failure who didn’t have a clue how to run a football club, we were just a vanity project to him. Given an eternal free pass by fans who got a hard on about how much money he had (despite him starving the club) and were grateful because he paid the bills. (Mindblowing.) Please never be such gullible cucks in the face of a harmful owner ever again town fans…
Any - for some - credit he may deserve for ‘saving’ our club is far outweighed by the damage caused by the manner in which he subsequently run it. Buying his remaining shares draws a welcome line under his toxic association with ITFC. Can’t change history, but we have most certainly moved on from it with a genuine sense of hope and thanks!
Blues1 & Tractorboybig: Your overdramatic comments display your lack of knowledge of the history and standing of Ipswich Town. Evans did not 'save our club'. There would always have existed an Ipswich Town Football Club, albeit in a changed configuration thanks in no small part to the longstanding stewardship of Portman Road by Ipswich Council. We could have all enjoyed a renaissant climb up the divisions as opposed to the years of dross we had to endure under Evans.
His biggest mistake was employing that absolute bell-end Keane and giving him a lot of money spent on dreadful players, Keane upsetting every man and their dog proving he couldn't manage or work with other human beings, removed the reserves team that had just been successful and ultimately Evans then either had none or was unwilling to risk a huge amount more so we slid into mediocrity, down further into being simply dire and existing. I kinda feel sorry for how it turned out. I feel he just about deserves some positive thoughts as it has ultimately led us to a couple of seasons of excitement and now huge investment. I do fear for what happens next with it all having happened too quickly, whether our best players will be poached and we struggle to replace them with promising players capable of development and most importantly hope we have incoming players adaptable to different styles and formations moving forward. But the manager KMc needs to develop some alternative styles and tactics, as we are predictable with the different personnel trying the exact same stuff the substituted players failed to be successful with. In relation to the article, I wasn't the biggest fan of Evans, but I'm not prepared to slate him for his efforts, he did invest a lot of money over all of those years. We are where we are now, as a result of his original investment.
philpott2: I don't disagree about Keane per se as I think he was one of, if not the, worst managers ever for the club, but his autobiography made it clear that he identified the players and then Clegg - the CEO with no football experience hired by Evans - bought them.
Keane made it clear that he felt we were paying way more than the players were worth.
Another sign of how Evans failed to run the club properly from the very start.
There were plenty of apologists for Evans over the years and a few still trot out excuses for him. The main one in recent years has been the ‘but he wrote off the £100million debt’. Indeed he did but what choice did he have? Nobody was going to buy a League 1 club saddled with that level of debt, particularly bearing in mind the level of investment needed to put right the years of neglect under Evans ownership. He wasn’t going to shift it unless he wrote the debt off, simple as that.
As for his ownership generally, I can’t be bothered to list all of his incompetent decisions over the years again but suffice to say he was not far away from causing irreparable damage to the club, which says it all.
The wide ranging knowledge of some fans amazes me. Not only are they experts on football bit also on finance ! I doubt any of us know the full story and we should be grateful that things have moved on and we are where we are.
naa....fair points well made. Having been travelling to Portman Road for over 40 years now, I've seen some good, great, bad, ugly, rotten football in that time (I lived abroad as a child and young man, so only got to watch ITFC on week/two week old betamax recordings of Match of the Day from expats coming back and forth), but missed seeing live those fabulous years. I did stop making the effort when Keane came in...I detest the man, and everything he touches. We definitely paid over the odds, by a lot, for some terrible players around that time. I do find it amusing that opinions, and we all have them, get marked down on here....they are opinions, after all.