Ipswich Town's new American owners have issued £18million worth of shares. But why?
- Credit: PA
Ipswich Town's American owners have issued £18million worth of new shares, but a football finance expert warns that doesn't necessarily mean new signings are imminent.
According to documents filed with Companies House, Gamechanger20, which now holds the majority of Ipswich Town's shares, issued the shares on April 7 — the day the takeover was officially announced.
Typically a company will issue new shares when it needs to raise cash by selling some of their business. But, according to Price of Football author Kieran Maguire, this does not mean Town are about to make a splash on the transfer market.