US private equity firm Bright Path Sports Partners has increased its stake in Ipswich Town in an effort to safeguard the long-term viability of the English Football League (EFL) Championship team.
After spending £105 million on Ipswich, Bright Path Sports acquired a 40% ownership position in the team. With the club presently sitting third in the league, the new investment also means that Three Lions, who are part-owners, have received more funding to aid in the club’s pursuit of promotion to the Premier League this season.
Mark Ashton, the CEO of Ipswich, will continue to oversee day-to-day operations, with financial and strategic support from new investors Bright Path Sports.
Regarding the latest investment, Ashton said, “We are thrilled to welcome Bright Path Sports on what is yet another historic day in the Club’s history.
With the help of Bright Path’s investors and their vast array of abilities and experiences, we will be able to advance the Football Club and further safeguard its long-term future on this day.
The Club will continue to benefit from the investment throughout the medium and long terms, with the major immediate application being to fund many important infrastructure projects, such as the extensive renovation of the training facility at Playford Road.
With a 50% stake, ORG, led by Ed Schwartz, is still the club’s dominant and controlling shareholder after Bright Path Sports’ investment. Three Lions and other smaller investors make up the remaining 10%.
Changes are also being made at the board level; Sam Simon and Jake Zahnow, the co-founder of Bright Path Sports, have joined Gamechanger 20, the organisation that was founded in April 2021 with the intention of buying Ipswich.
“When we purchased Ipswich Town in 2021, we did so with the initial aim of restoring the club to the Championship and becoming competitive at this level, with the plan always including bringing a partner on board when the time was right,” said Schwartz, co-founder of ORG and majority shareholder of Ipswich.
Because of the Club’s advancement, we believe the moment is right, and we are thrilled to have Bright Path Sports join us. We are thrilled that Mark Ashton has extended his commitment to the club, and we look forward to Bright Path contributing significantly to Ipswich Town in the years to come. Mark Ashton will continue to oversee the team on a daily basis.
