| The takeover by Gamechanger 20 Ltd - The training ground land 23:56 - Mar 2 with 141152 views | Muncher |
I’ve been doing a bit of digging at HM Land Registry today and what I have seen backs up what Phil has previously mentioned and leads me to believe the takeover is well underway and likely just waiting EFL approval.
The Playford Road site (2 parcels of land) is the subject of a priority search in respect of an intended purchase by Gamechanger 20 Ltd which was lodged on 23 February by law firm Gateley PLC out of their Birmingham office (first instruction by that client).The Bent Lane site is subject to a similar priority search in respect of part of the site only, meaning the Evans group company is retaining part of it.
A priority search is carried out by solicitors to preserve their place in the queue of potential applications for dealing, it confers a priority period of about 45 days. It is a matter of public record and available to view by professionals who have the requisite portal account. It is typically only done in the immediate anticipation of completing a transaction, it can be done slightly ahead of this, but usually is done on the day of exchange of contracts. I’m a commercial property solicitor so carry out these searches on a regular basis. My best guess (based on the timing of the search) is Evans likely entered into a conditional contract last Tuesday for the sale of the land (and club). You would not carry out such a search unless a deal including the detail had either been agreed or was extremely close. The reason such searches are not carried out lightly is because it prevents the proprietor from entering into other transactions while the priority is lodged. If a deal is not happening you should cancel the search, but all 3 remain in place.
There is no corresponding priority search in respect of the stadium lease and I would not expect there to be as the lease is owned by the club as tenant and I would expect Gamechanger 20 Ltd is acquiring the existing share capital owned by Evans.
I am happy to share screenshots if anyone would like to see, but the searches are in relation to the Playford Road site (title number SK219236 & SK203140) and the bent lane site (SK200320) they appear under the “application enquiry” tab.
EDIT:
I have now have a placed a brief article on my firm's website here discussing it:
https://prettys.co.uk/news/takeover-ipswich-town-football-club-could-be-progress
[Post edited 8 Mar 2021 12:59]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 13:18 - Mar 8 with 5000 views | Charlie_pl_baxter |
| The takeover by Gamechanger 20 Ltd - The training ground land on 13:14 - Mar 8 by Plums |
As others have said, thank you for this thread. It’s been very illuminating. You’re rapidly gaining TWTD legend status - for the right reasons! [Post edited 8 Mar 2021 13:15]
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Agree although this tweet may increase the volume of bed-wetting incidents... |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 13:52 - Mar 8 with 4908 views | SomethingBlue |
| The takeover by Gamechanger 20 Ltd - The training ground land on 13:03 - Mar 8 by IpswichKnight |
Did you think Marcus’s letter was also aimed at the Americans in a shut up you weren’t supposed to leak this? They do seem to have gone a bit quiet since that letter. |
Probably something in that. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 14:10 - Mar 8 with 4823 views | Raffles |
| The takeover by Gamechanger 20 Ltd - The training ground land on 13:18 - Mar 8 by Charlie_pl_baxter |
Agree although this tweet may increase the volume of bed-wetting incidents... |
For anyone still doubting the veracity of this thread, you'll notice that today Muncher's law firm have come out backing it. The last note was in press release form and includes the firm's name. They won't have wanted to be part of this if they hadn't looked at his argument, agreed with it and wanted to give him their backing. They see the value of being associated with the story. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 15:14 - Mar 8 with 4662 views | abracaDOBRA_ |
Not sure if this has been mentioned anywhere else but the club have replied to the article by yourself...
When contacted about the priority searches, an Ipswich Town club spokesperson said: "Marcus Evans issued a statement to supporters last week and we have nothing further to add."
Wouldn't really expect them to say anything else tbf, just thought it was relevant to this thread. |  | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 15:21 - Mar 8 with 4609 views | WeWereZombies |
| The takeover by Gamechanger 20 Ltd - The training ground land on 12:40 - Mar 8 by Muncher |
https://prettys.co.uk/news/takeover-ipswich-town-football-club-could-be-progress
A Suffolk solicitor has unearthed new information that could shed a light on the possible sale of Ipswich Town Football Club.
Speculation Blues’ owner, Marcus Evans, is looking to sell the club has grown in recent weeks with him issuing a statement saying no acceptable deal is currently on the table.
However, research carried out by Paul Munnings, commercial property associate at Ipswich-based solicitors Prettys, suggests a deal could be close.
He said: “Priority searches have been lodged through HM Land Registry by a national law firm in favour of their client Gamechanger 20 Limited regarding three parcels of land — the club’s Playford Road and Bent Lane training centres on the outskirts of Ipswich which are owned by marcus evans Group.
“A priority search is typically only carried out in the immediate days before an exchange of contracts so this is likely to mean that a conditional contract for the takeover of the club is already in place.
“The fact that the searches remain on the register at the time of writing suggests a deal has likely been agreed or is imminent and may be announced by the English Football League in the coming days.”
This research confirms what Ipswich Town supporters have been speculating over recent weeks, with the departure of manager Paul Lambert and the appointment of new manager Paul Cook a key indicator that something more was happening behind the scenes.
If the deal goes through, the League One club will be owned by football investors Brett M Johnson, Berke Bakay and Mark Detmer, who are behind US sides Phoenix Rising FC, FC Tucson and Danish side FC Helsingor.
[Post edited 8 Mar 2021 13:14]
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Helsingor? Something is rotten in the state den Marcus... |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 15:56 - Mar 8 with 4491 views | Cheshire_Tractor |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:27 - Mar 8 by Keno |
I'm more interested in the pizza topping
Obviously I would expect them too choose hawaiian, that is the pizza of the gods |
So Phil Ham + Pineapple then |  | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 16:05 - Mar 8 with 4438 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 15:14 - Mar 8 by abracaDOBRA_ |
Not sure if this has been mentioned anywhere else but the club have replied to the article by yourself...
When contacted about the priority searches, an Ipswich Town club spokesperson said: "Marcus Evans issued a statement to supporters last week and we have nothing further to add."
Wouldn't really expect them to say anything else tbf, just thought it was relevant to this thread. |
Where did they say that? | | | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 16:55 - Mar 8 with 4275 views | NthQldITFC |
| The takeover by Gamechanger 20 Ltd - The training ground land on 15:21 - Mar 8 by WeWereZombies |
Helsingor? Something is rotten in the state den Marcus... |
Don't worry, everything in the Guildenstern will soon look a lot more Rosencrantz. |  |
| # WE ARE STEALING THE FUTURE FROM OUR CHILDREN --- WE MUST CHANGE COURSE # | | Poll: | It's driving me nuts |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 16:57 - Mar 8 with 4261 views | Ewan_Oozami |
| The takeover by Gamechanger 20 Ltd - The training ground land on 16:55 - Mar 8 by NthQldITFC |
Don't worry, everything in the Guildenstern will soon look a lot more Rosencrantz. |
Aren't they dead though? |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 17:08 - Mar 8 with 4212 views | Keno |
| The takeover by Gamechanger 20 Ltd - The training ground land on 16:57 - Mar 8 by Ewan_Oozami |
Aren't they dead though? |
I think you are getting them muddled up with schrodinger's cat |  |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 17:24 - Mar 8 with 4172 views | WeWereZombies |
| The takeover by Gamechanger 20 Ltd - The training ground land on 17:08 - Mar 8 by Keno |
I think you are getting them muddled up with schrodinger's cat |
I think it's time to put a Stoppard to all this nonsense.
And it was neither Rosencrantz or Guildenstein who said 'Something is rotten in the state of Denmark', far more incriminating than that. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 17:24 - Mar 8 with 4174 views | Muncher |
Thanks, I think that says quite a lot! | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:28 - Mar 9 with 3763 views | Muncher |
Just to confirm the searches are still in place this morning. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:41 - Mar 9 with 3714 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:28 - Mar 9 by Muncher |
Just to confirm the searches are still in place this morning. |
Cheers muncher, your work on this has been excellent.
Time to ask for a pay rise...Publicity and all.... [Post edited 9 Mar 2021 9:18]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:06 - Mar 9 with 3631 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 08:41 - Mar 9 by hype313 |
Cheers muncher, your work on this has been excellent.
Time to ask for a pay rise...Publicity and all.... [Post edited 9 Mar 2021 9:18]
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Haha!
Phil just asked me a question about how long the priority process is likely to last, I thought I would post my response here too because it might aid your understanding.
A priority search of whole returns an instant search result, a search of part returns a search result usually same day as it involves manual processing of a plan.
The underlying transaction is not governed by the priority process, rather the priority process is protection for the transaction itself. It covers the period between exchange of contracts and the transfer being registered by the land registry.
By way of examples:
I intend to buy a house, I think I am going to exchange contracts on 1 Jan so immediately prior to exchange I lodge my priority search so it lasts until 15 Feb. We complete on 7 Jan, the signed and dated transaction documents arrive back with me on 10 Jan and are lodged for registration on the land registry portal, the land registry register the transfer and update the title on 30 Jan. The priority search is no longer required as the registration is done and they remove it ahead of when the priority period expires.
Second example.
I intend to exchange contracts to buy a retail unit on 1 Jan, the seller is still finishing the building of the unit and we agree that completion of the sale/purchase will be conditional upon when the works are complete. We think this is likely to be 1 Feb. We put the priority search in place, we exchange contracts with a priority period to 15 Feb. By the 14 Feb it is clear the building is not going to complete on schedule, therefore we would apply to extend our priority period to continue our protection for another 45 days. If it still isn't finished then, we would extend it further.
As long as the transaction is pending, you can either apply to the registry for an extension, which may be granted a couple of times with good reason. Or you can lodge a fresh search but you will buy subject to anyone else's priority which was lodged between your first and second searches.
What you wouldn't do is lodge priority searches unless your deal was "imminent" or continue to extend the search if you are not already under contract.
Here, the timeline will be dictated by the EFL and not the land registry, the land registry in this instance is just the visible indicator for us that something is underway. [Post edited 9 Mar 2021 9:08]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:22 - Mar 9 with 3538 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:06 - Mar 9 by Muncher |
Haha!
Phil just asked me a question about how long the priority process is likely to last, I thought I would post my response here too because it might aid your understanding.
A priority search of whole returns an instant search result, a search of part returns a search result usually same day as it involves manual processing of a plan.
The underlying transaction is not governed by the priority process, rather the priority process is protection for the transaction itself. It covers the period between exchange of contracts and the transfer being registered by the land registry.
By way of examples:
I intend to buy a house, I think I am going to exchange contracts on 1 Jan so immediately prior to exchange I lodge my priority search so it lasts until 15 Feb. We complete on 7 Jan, the signed and dated transaction documents arrive back with me on 10 Jan and are lodged for registration on the land registry portal, the land registry register the transfer and update the title on 30 Jan. The priority search is no longer required as the registration is done and they remove it ahead of when the priority period expires.
Second example.
I intend to exchange contracts to buy a retail unit on 1 Jan, the seller is still finishing the building of the unit and we agree that completion of the sale/purchase will be conditional upon when the works are complete. We think this is likely to be 1 Feb. We put the priority search in place, we exchange contracts with a priority period to 15 Feb. By the 14 Feb it is clear the building is not going to complete on schedule, therefore we would apply to extend our priority period to continue our protection for another 45 days. If it still isn't finished then, we would extend it further.
As long as the transaction is pending, you can either apply to the registry for an extension, which may be granted a couple of times with good reason. Or you can lodge a fresh search but you will buy subject to anyone else's priority which was lodged between your first and second searches.
What you wouldn't do is lodge priority searches unless your deal was "imminent" or continue to extend the search if you are not already under contract.
Here, the timeline will be dictated by the EFL and not the land registry, the land registry in this instance is just the visible indicator for us that something is underway. [Post edited 9 Mar 2021 9:08]
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Cheers Muncher, I'm only really au fais with searches regarding house sales and the parameters they work under, which I would imagine would be far more in depth in this scenario.
What date did the searches start, was it a couple of weeks ago? As you say, somethings obviously bubbling away in the background and I'm sure we will all have a clearer understanding in the next few weeks. | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:24 - Mar 9 with 3530 views | itfcpaul |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:06 - Mar 9 by Muncher |
Haha!
Phil just asked me a question about how long the priority process is likely to last, I thought I would post my response here too because it might aid your understanding.
A priority search of whole returns an instant search result, a search of part returns a search result usually same day as it involves manual processing of a plan.
The underlying transaction is not governed by the priority process, rather the priority process is protection for the transaction itself. It covers the period between exchange of contracts and the transfer being registered by the land registry.
By way of examples:
I intend to buy a house, I think I am going to exchange contracts on 1 Jan so immediately prior to exchange I lodge my priority search so it lasts until 15 Feb. We complete on 7 Jan, the signed and dated transaction documents arrive back with me on 10 Jan and are lodged for registration on the land registry portal, the land registry register the transfer and update the title on 30 Jan. The priority search is no longer required as the registration is done and they remove it ahead of when the priority period expires.
Second example.
I intend to exchange contracts to buy a retail unit on 1 Jan, the seller is still finishing the building of the unit and we agree that completion of the sale/purchase will be conditional upon when the works are complete. We think this is likely to be 1 Feb. We put the priority search in place, we exchange contracts with a priority period to 15 Feb. By the 14 Feb it is clear the building is not going to complete on schedule, therefore we would apply to extend our priority period to continue our protection for another 45 days. If it still isn't finished then, we would extend it further.
As long as the transaction is pending, you can either apply to the registry for an extension, which may be granted a couple of times with good reason. Or you can lodge a fresh search but you will buy subject to anyone else's priority which was lodged between your first and second searches.
What you wouldn't do is lodge priority searches unless your deal was "imminent" or continue to extend the search if you are not already under contract.
Here, the timeline will be dictated by the EFL and not the land registry, the land registry in this instance is just the visible indicator for us that something is underway. [Post edited 9 Mar 2021 9:08]
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Based on your expertise and experience of these things what do you think the likelihood of this happening percentage wise with what has happened with the searches? | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:29 - Mar 9 with 3502 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:22 - Mar 9 by hype313 |
Cheers Muncher, I'm only really au fais with searches regarding house sales and the parameters they work under, which I would imagine would be far more in depth in this scenario.
What date did the searches start, was it a couple of weeks ago? As you say, somethings obviously bubbling away in the background and I'm sure we will all have a clearer understanding in the next few weeks. |
It's exactly the same process with buying a house except a house purchase is usually an unconditional contract (the deal is not depedent on anything else occurring) and the sale of a football club which will be a conditional contract (as the deal can't happen without EFL approval).
A house sale you have a fixed completion date, a football club sale will complete automatically as per the contract when EFL approval is given at an unspecified future date.
The searches were lodged on 23 February. [Post edited 9 Mar 2021 9:31]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:32 - Mar 9 with 3477 views | hype313 |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:29 - Mar 9 by Muncher |
It's exactly the same process with buying a house except a house purchase is usually an unconditional contract (the deal is not depedent on anything else occurring) and the sale of a football club which will be a conditional contract (as the deal can't happen without EFL approval).
A house sale you have a fixed completion date, a football club sale will complete automatically as per the contract when EFL approval is given at an unspecified future date.
The searches were lodged on 23 February. [Post edited 9 Mar 2021 9:31]
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Cheers, so as long as the searches don't throw up finds of Sutton Hoo 2, then essentially we are just waiting on EFL approval, which should be a formality? | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:35 - Mar 9 with 3455 views | trncbluearmy |
Can the current situ be compared with the time between exchange and completion when their are penalties if one side pulls out or does that not apply because the deal has to be sanctioned by EFL
Good work you have Suffolk on a knife edge here, have even looked at Prettys website, something I have not done for years!
Think you may already answered that in post just above! [Post edited 9 Mar 2021 9:36]
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:39 - Mar 9 with 3435 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:24 - Mar 9 by itfcpaul |
Based on your expertise and experience of these things what do you think the likelihood of this happening percentage wise with what has happened with the searches? |
I can't speculate as to what may or may not be happening at the EFL, I don't know anything about the potential buyers, beyond what has been reported in the press which looks fairly positive.
If there had been no other speculation whatsoever regarding a takeover and I stumbled across those searches I would probably put the probability of a deal done or on the cards in the 90% region. The various speculation that has been reported which also perfectly aligns to this and which was totally independent of what I found probably nudges that up somewhat. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:42 - Mar 9 with 3408 views | itfcpaul |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:39 - Mar 9 by Muncher |
I can't speculate as to what may or may not be happening at the EFL, I don't know anything about the potential buyers, beyond what has been reported in the press which looks fairly positive.
If there had been no other speculation whatsoever regarding a takeover and I stumbled across those searches I would probably put the probability of a deal done or on the cards in the 90% region. The various speculation that has been reported which also perfectly aligns to this and which was totally independent of what I found probably nudges that up somewhat. |
Thank you
I was meaning in relation to the searches alone and not the EFL, as I am sure they can be a weird beast when dealing with things such as this with how they have allowed clubs to be taken over by what turned out to be not particularly suitable people | |
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| The takeover by Gamechanger 20 Ltd - The training ground land on 09:42 - Mar 9 with 3409 views | Muncher |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:32 - Mar 9 by hype313 |
Cheers, so as long as the searches don't throw up finds of Sutton Hoo 2, then essentially we are just waiting on EFL approval, which should be a formality? |
A priority search isn't a search that tells you anything whatsoever about the land, it only tells you about any other impending dealings or registrations. You only lodge a priority search once you are essentially happy with everything else about the land, it's one of the very last steps in the process. | | | |
| The takeover by Gamechanger 20 Ltd - The training ground land on 10:12 - Mar 9 with 3314 views | kaibe |
| The takeover by Gamechanger 20 Ltd - The training ground land on 09:42 - Mar 9 by Muncher |
A priority search isn't a search that tells you anything whatsoever about the land, it only tells you about any other impending dealings or registrations. You only lodge a priority search once you are essentially happy with everything else about the land, it's one of the very last steps in the process. |
Do you think that the plan to make the club more transparent for the fans, with this new fans engagement groups being set up something to do with preparation for the takeover? As this sounds like something that Brett would want before he takes over. As in all honesty I doubt Evans would do that off his own back. | | | |
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