Michael Anderson apologises for embarassment caused to Ipswich fans

I was asked on a number of occasions if I have been involved in football. I did not reveal my brief association with either Aldershot or Kettering because of embarrassment.

"I didn't want it to jeopardise my position with Ipswich Town. I would like to stress that I have done nothing wrong at these other clubs. Rather, I have personally ended up losing money.

"Of course I regret not having mentioned this. I apologise for any embarrassment caused to David, Derek, the board and the fans. This was never my intent. I love football and felt very privileged to have been asked to join the ITFC board.

"For the avoidance of doubt, I would like to clarify my position regarding my brief involvement with Aldershot and Kettering.

"In the instance of Aldershot, having followed the fortunes of the club during the early 90s, I approached their chairman and offered to help them. However, after a few months, during which I personally financed the player wages and covered the rent of the ground, following a disagreement with fellow directors over the future of the club, I severed my connections, withdrew my funding and called in the police to investigate the irregularities I uncovered.

"With regard to Kettering Town, following a contact made whilst at Aldershot, I was asked if I would be interested in getting involved with Kettering. In reality my involvement lasted just a number of weeks. Although flattered to be initially asked to join the board, it soon became apparent that all was not well and again I severed my connection with them.

"So in total my involvement previously in football was brief and personally disappointing and not without considerable personal expense. And there has never been any suggestion of my being involved in any wrongdoing.

"I have not changed my position with regard to my financial commitments to ITFC. I am a supporter, albeit of late a long-distance supporter from the US and Dubai. I look forward to seeing the club benefit from this investment in the future."

Chairman David Sheepshanks has said that Anderson's investment in the club (rumoured to be around £500,000) will still remain but, for now, Anderson will not be allowed onto the board of directors, but investigations will continue.

Despite the bad publicity of this investment, the Chairman still called for more investment from other sources and also revealed that he is considering another share issue, similar to the one that occurred last year. He has appealed to the clubs supporters to write in to him regarding their opinions of this, to judge if their is sufficient interest.