Ipswich Town
In 2007 Ipswich Town Football Club announced that Marcus Evans would be buying a controlling stake in the club subject to contracts, due diligence and shareholder approval. The deal saw Evans purchase Ipswich Town's £32 million debts with Aviva (Norwich Union) and Barclays Bank. The official announcement did not stake the terms of this deal: various unsourced media reports speculated that he paid anything between 20 pence and 100 pence in the pound, without giving sources. He injected £12 million into the club in exchange for an issue of new shares, which gave him a 87.5% stake, and reduced the existing shareholders stake to 12.5%. The deal was finalised following an EGM on 17 December 2007, at which the proposal was backed by shareholders speaking for 98.9% of the stock.
Since its purchase the club has struggled to improve on mid-table Championship finishes. Despite these results Marcus Evans has continued to support the club. Simon Clegg, the Ipswich chief executive, said in a BBC radio interview "Marcus is hugely committed to the club, continues to be very enthusiastic and is prepared to continue to support the manager."
Read more about this topic: Marcus Evans
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