A US-based firm have acquired a 40 per cent stake in Ipswich Town in a huge financial boost to the club.
The investment is worth £105million and is said to be 'an exciting step which will further secure the club’s future'.
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ORG, which manages funds for PSPRS (the Arizona Public Safety Personnel Retirement System), retains a majority share of around 50 per cent of the club, with a number of minority shareholders holding the remaining 10 per cent.
Despite the investment, current CEO Mark Ashton will continue to manage the club day-to-day as Ipswich look to secure promotion to the Premier League.
Ed Schwartz, co-founder of the club's majority shareholder ORG 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.”
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The club's CEO, Mark Ashton, added: “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.”
With Ipswich firmly part of the Championship's promotion race, fans are hoping to see the funds used to turn Chelsea loan star Omari Hutchinson's temporary spell into a permanent switch.
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The 20-year-old has been a key player for the Tractor Boys this term, scoring eight goals in the process.
With five goals and three assists in his last nine games, fans are hoping that he could stick around at the club longer term.
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On social media, one fan wrote: Omari Hutchinson is where we should invest this new cash cheers."
Another said: "100 mil on hutchinson," while a third added: "Announce Omari Hutchinson."
"Hutchinson money secured," commented one more.
This fan then posted: "My guess would be this is the investment needed to buy Hutchinson from Chelsea…"
And another simply urged Ipswich: "Sign Hutchinson."
Ipswich currently sit third in the Championship, but sit just one point from the top with eight games remaining.