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Ipswich Town: Marcus Evans sells club to American investment fund ORG

cliveclive
in Other Football and Sports

Ipswich Town owner Marcus Evans has sold the League One club to American investment fund ORG.

A new company, Gamechanger 20 Ltd, has been formed to buy the club, with ORG owning a 90% stake.

Americans Brett Johnson, Berke Bakay and Mark Detmer will jointly own 5% of the company, with Evans standing down but still owning the remaining 5%.

Former West Brom chief executive Mike O'Leary will be Ipswich chairman, with a "UK-based" CEO to be appointed.

https://www.bbc.co.uk/sport/football/56662790

Comments

  • Cafc43v3rCafc43v3r

  • Cafc43v3rCafc43v3r
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    I couldn't agree more.  
  • SoundAsa£SoundAsa£
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
  • ShootersHillGuruShootersHillGuru
    Very risky for a pension fund to invest in something like a league one football club. Significant investment might take years to recoup or never. I realise that they are in it for the long haul not short term but still seems unusual to say the least. The real up side will be the stability it brings for Ipswich.
  • MuttleyCAFCMuttleyCAFC
    It seems a bit of a strange one. 
  • cfgscfgs
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Didn't hurt Robert Maxwell or the pension fund of his employees did it?  Oh ok.
  • Athletico CharltonAthletico Charlton
    Using pension money from USA firemen and the like to acquire a loss making UK football team is a very odd decision.
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  • ChunesChunes
    killerandflash said:
    SoundAsa£ said:
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
    Football clubs lose money though, and are terrible financial investments. Go up a division, and the extra income goes out on wages and transfer fees to stay competitive
    And yet people keep buying them. I wonder if they really are as terrible as they seem. 
  • AndyGAndyG
    Chunes said:
    killerandflash said:
    SoundAsa£ said:
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
    Football clubs lose money though, and are terrible financial investments. Go up a division, and the extra income goes out on wages and transfer fees to stay competitive
    And yet people keep buying them. I wonder if they really are as terrible as they seem. 
    I'm no expert in the subject of owning football clubs but when you look at the dodgy maggots trying to buy them there must be some kind of angle. These people ain't doing it out of sentiment alone.
  • killerandflashkillerandflash
    Chunes said:
    killerandflash said:
    SoundAsa£ said:
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
    Football clubs lose money though, and are terrible financial investments. Go up a division, and the extra income goes out on wages and transfer fees to stay competitive
    And yet people keep buying them. I wonder if they really are as terrible as they seem. 
    Nobody is buying them as a conventional financial asset (5% per annum growth etc)

    They're either doing it for non financial reasons or a taking a sh*t or bust approach, gambling that they'll make a big return by reaching the PL
  • Cafc43v3rCafc43v3r
    AndyG said:
    Chunes said:
    killerandflash said:
    SoundAsa£ said:
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
    Football clubs lose money though, and are terrible financial investments. Go up a division, and the extra income goes out on wages and transfer fees to stay competitive
    And yet people keep buying them. I wonder if they really are as terrible as they seem. 
    I'm no expert in the subject of owning football clubs but when you look at the dodgy maggots trying to buy them there must be some kind of angle. These people ain't doing it out of sentiment alone.
    If you try and run a football club "properly" unless it's a Man United (you can of course argue that they aren't run properly) you will always lose money, at best you won't lose a lot.

    What you can do though is what Southall tried.  Buy a club for £1, pay yourself 100s of thousands a year, funnel money through your mates as agents etc then sell it to another mug for £1.  You may make a couple of million.  There wall always be a buyer at £1 no matter if you don't own the ground or even any players. 


  • Notts_AddickNotts_Addick
    With the news of the Derby takeover today it got me thinking what a crazy roll of the dice football is. Villa are flying this year in the Premier League and enjoying all the financial perks of that, whereas Derby are skint and today seem to have been sold off to a very suspect bidder.

    Crazy when you think their futures for years to come were all decided by a 90 Minute play off final a couple of years ago. One deflection, dodgy refereeing decision, keeper mistake and the fortunes of both clubs could have been totally reversed. Seem to recall reading that had Villa not gone up they were facing administration. It all seems a very high risk gamble for anyone to take over a football club, even more so in this climate. No matter how well run you run a club there are so many factors out of your control that make it such a risk.

    It seems to be the trendy thing at the moment for owners to talk about 'sustainability' and being 'fiscally responsible' yet genuinely how many owners are there that have made any form of profit out of owning a football club? Not many spring to mind yet I can think of countless owners who seem to have lost small fortunes chasing the dream of the Premier League, Sheff Wed and Derby spring immediately to mind who must have lost eye watering sums over the last few years. And now both of them are fighting relegation battles and rumoured to be in financial turmoil.

    Can say for certain I'd not want my retirement fund invested in anything football related.
  • ScohamScoham
    Pension fund makes me think of this: https://youtu.be/cEpKcBkkVMY
  • cafcsingercafcsinger
    First thought was of Line Of Duty when i read the title. Need to get out more
  • Valley11Valley11
    Scoham said:
    Pension fund makes me think of this: https://youtu.be/cEpKcBkkVMY
    Thought the same. Haha. 
  • mascot88mascot88
    Someone's has sold the new owners on a fallacy... Congrats :) 
  • SomervilleAddickSomervilleAddick
    First thing that I found - not a good start

    https://www.golocalprov.com/business/20-to-watch-in-2020-brett-johnson-and-berke-bakay
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  • Chris_from_SidcupChris_from_Sidcup
    Notts_Addick said:
    With the news of the Derby takeover today it got me thinking what a crazy roll of the dice football is. Villa are flying this year in the Premier League and enjoying all the financial perks of that, whereas Derby are skint and today seem to have been sold off to a very suspect bidder.

    Crazy when you think their futures for years to come were all decided by a 90 Minute play off final a couple of years ago. One deflection, dodgy refereeing decision, keeper mistake and the fortunes of both clubs could have been totally reversed. Seem to recall reading that had Villa not gone up they were facing administration. It all seems a very high risk gamble for anyone to take over a football club, even more so in this climate. No matter how well run you run a club there are so many factors out of your control that make it such a risk.

    It seems to be the trendy thing at the moment for owners to talk about 'sustainability' and being 'fiscally responsible' yet genuinely how many owners are there that have made any form of profit out of owning a football club? Not many spring to mind yet I can think of countless owners who seem to have lost small fortunes chasing the dream of the Premier League, Sheff Wed and Derby spring immediately to mind who must have lost eye watering sums over the last few years. And now both of them are fighting relegation battles and rumoured to be in financial turmoil.

    Can say for certain I'd not want my retirement fund invested in anything football related.
    Villa have 2 billionaire owners and have spent almost 230m on players in 2 seasons since getting promoted. 

    In the season they were promoted they lost 69m. That loss was DESPITE the owners buying Villa Park (yet another ground sale) for over 55m. So basically a loss of over 100m just to get out of the championship.

    On the flip side of that of course is that they bought the club relatively cheaply and as a (current) top half premier league club their club is probably now worth 5-6 times what they paid. 

    But it just shows the level of investment needed so it's very risky for a pension fund to be trying this.
  • ChunesChunes
    edited April 2021
    killerandflash said:
    Chunes said:
    killerandflash said:
    SoundAsa£ said:
    Redrobo said:
    Cafc43v3r said:
    Going to be serious cash floating round league 1 next season, especially if Sunderland don't go up. 
    Buying a football Club as an investment on behalf of a pension fund seems totally irresponsible to me.
    Though Ipswich are not altogether risky as clubs go and really (like us), ought not to be in Div 1.
    But I agree, it still has an element of risk about it, especially if you are using someone else’s money.
    Football clubs lose money though, and are terrible financial investments. Go up a division, and the extra income goes out on wages and transfer fees to stay competitive
    And yet people keep buying them. I wonder if they really are as terrible as they seem. 
    Nobody is buying them as a conventional financial asset (5% per annum growth etc)

    They're either doing it for non financial reasons or a taking a sh*t or bust approach, gambling that they'll make a big return by reaching the PL
    No doubt you have to fund losses, but the club's value seems to rise at a pretty good rate if it maintains a decent status.
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