"This level of investment was absolutely essential. If you look at the clubs who have been promoted from this division in the last five years they have all had either a parachute payment or a benefactor.
"We've struggled manfully without either - most notably three seasons ago when we finished third - and this year we have done very well.
"But we are hovering around the play-offs and in order to have a real go at winning promotion we do clearly need to spend more on the playing side.
"Marcus is investing £12million into the club which will all be available in January for Jim to spend on a combination of fees and wages to take this club forward.
Bowden also confirmed our earlier reports that Evans would not sit on the clubs board: "Marcus won't be on the board, he is on hardly any boards of the many businesses he owns but is the owner and ultimately has the controlling interest.
"But the day-to-day running of the club won't change and myself and the chairman and the rest of the management team will stay in place.
"I don't think we should be xenophobic, there is a lot of good investment from abroad, but the fact that this is an English businessman who has some connection with Suffolk in his past is very exciting.
"He has set no timescale on promotion but we have our own. We want to really push on this year and then move on strongly next year. We want to get into the Premier League as quickly as we can."
Bowden also categorically denied there was any chance of a change of manager: "Jim's tenure at the club only began last season and we've made great strides forward.
"Jim has just signed a new two-and-a-half year contract and that is a clear statement that we intend to keep him here."