With the new season just coming up on the horizon, we look at the development of the club in 07/08 away from the football field in the final part of our season review. At this stage last season, we were looking forward to seeing the contribution that our three new signings, all bought for no transfer fee, were going to make. How times change.....
Irrespective of anything else that happened at the football club during season 07/08, the activities away from the football field will quite safely mark it out as one of the most defining seasons in the clubs history.
The mid-season takeover by Marcus Evans Investments has totally transformed the club from top to bottom. Despite promises that the new owner and his business were keen to maintain the ethos and existing "good practices" of the club, the sea-change in mindset of the club is akin to the club becoming a fully fledged plc.
Its a deal which, in the short and mid term, appears to be nothing but good news for Ipswich Town Football Club. Marcus Evans Investments (MEI) provided what in many fans eyes represented the golden ticket- someone prepared to provide a huge cash injection to allow the club to compete with the biggest clubs in the championship and escape to the premiership, post haste. For any fans looking a little closer at the clubs finance, he provided the ultimate reassurance- someone prepared to remove the club from the enormous burden of debt which was appearing to become insurmountable now and in the future.
Its a serious platform with which to mount promotion.
Of course, Marcus Evans himself is a businessman, rather than a misguided philantropist. Which is where any such deal becomes a two way deal. For Evans himself, the advantages are also very clear. Having purchased the clubs debt at a vastly reduced cost, he is now in a position to recoup the debt at its original and full face value, plus interest. With this only occuring when the club are awash with cash in the premiership, its something nobody would object to. In return for his player budget cash injection, the club have issued him with shares to the extent that he is now by far and away the clubs major shareholder. Which has the effect that, if Town come into that premiership cash, he will reap enormous rewards in dividend pay-outs.
Every single person connected with Ipswich Town wants to see them promoted. And the man with the money wants it just as badly, in order to recoup his investment and very quickly start making very serious money.
Since the takeover, there have been several changes in the way the club operates. Whilst initial reservations about wholesale transformations have been unfounded, with many of them being quite subtle, the overall effect has been of a club operating under much leaner business ideals. The most high profile of all these changes was the quite dramatic reduction in the role, and associated salary, of David Sheepshanks. The chairman has retained his title, but it appears very little else. With the board being heavily reduced, and supplemented by three of Evans own employees, it remains to be seen whether his footballing nous will be heavily missed in the day to day running of the club. The club shop in Bury St. Edmunds has bitten the dust, owing to not producing enough financial gain. There has been trimming in other areas of club staff and generally, the club appears to be running to stricter rules.
To this point, it is a deal which in the short term is fantastic for Ipswich Town Football Club, whilst requiring a hefty outlay by the new owner. In the medium term, it will hopefully be good for both parties since, for Evans to make it a success, we will be in the premiership. At which point, money and higher playing status will mean there will be smiles all round. Long term, its difficult to guage. Nobody can tell how far Marcus Evans is prepared to take the club. As long as the money is coming in, will that be enough? If the money isnt coming in, how much patience will there be to put it right? By that point, will Ipswich Town have reached financial security?
Yet, at this moment, there can be nothing but positivity. As we stand on the brink of a new season, the club have so far managed to maintain all of their key players, even extending their contracts, bought four new players for more than £2m and are ambitiously looking to sign several more. Its quite some way from the frantic struggle to find a fee for Francis Jeffers last summer. Its even further away from just three short years ago where, having lost four key players, we were left with a fraction of that to replace them.
Its very clear that everybody, from players, to manager, to fans and onto an owner who apparently is fast finding himself becoming a real fan himself, are desperate to see the club back into the premiership. Enjoy the ride.
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