Sunderland's Championship rivals announce £105m investment in statement move

Sunderland's rivals in the Championship have announced an investment deal of £105million.

US-based private equity firm Bright Path Sports Partners have invested in Ipswich Town, with the Tractor Boys currently pushing for promotion to the Premier League Ipswich say that the investment is up to £105million and will secure a 40 per cent stake and is an "exciting step which will further secure the club’s future".

Ed Schwartz, the club’s majority shareholder, said: “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.

“The club’s progress means we feel that time is now and we are excited to welcome Bright Path Sports. Alongside the continued day-to-day leadership of Mark Ashton, who we are delighted has further committed his future to the club, we look forward to Bright Path bringing significant value to Ipswich Town in the coming years.”

Mark Ashton, Ipswich Town's CEO, said: “We are excited to welcome Bright Path Sports on what is another landmark day in the Club’s history.

“This is a day that further secures the long-term future of the Football Club and gives us the means to move the Club forward as we benefit from the wide range of skills and experiences Bright Path’s investors will bring.

“The investment will continue to support the Club in both the medium and long term, with the biggest immediate use being to support a number of key infrastructure projects, including the significant redevelopment of the training ground at Playford Road.”