Reports over the weekend claim a mystery investor was at Portman Road on Saturday to watch the Blues defeat Sheffield Wednesday 2-1. The story emerged just a day after chairman David Sheepshanks indicated that he and chief executive Derek Bowden are actively looking for investors to lend a hand with the club's still difficult financial situation.

According to the report, a car was followed into the ground by TV crews and a man was hurried into the reception area where he was greeted by officials from the club.

At the end of last week chairman Sheepshanks perhaps hinted that new investment might be on the way in an interview with the club site: "We continue to look for investment in the club but what we are seeking is not any 'sticking plaster' solution but long-term security.

"Any major new investment in the club would have to meet certain conditions and the existing shareholders and supporters would have to approve.

"First of all, it would need to be a significant investment and would have to be in the long-term interest of the club. They would need to respect the fact that we are a community-based club and want to retain that."

The club's debts still total £35 million despite £8 million having been written off when the club went into administration in 2003.

Town have never ruled out investment from outside but chairman Sheepshanks has always been keen to avoid 'unfriendly' advances and limited any single investment to 15% at the time of the share issue, although the board were able to waive this if an investor was considered "benign".

Since then it is understood that board member Holly Bellingham's stake in the club has risen to a level where it would be marginally above 15% were her loan notes to be converted into shares.

Contrary to reports elsewhere, the club would not be able to prevent any individual from taking their stake in the club above the 15% level if they wanted to buy shares directly from the 3,300 shareholders.

Last week also saw the club reveal that they are close to securing a £100,000 sponsorship for the North Stand.

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