Ipswich Town are set for a takeover after announcing their intention to sell a majority stake in the club.

The club have agreed a deal to sell an 87.5% share to media entrepreneur Marcus Evans, subject to shareholder approval at a meeting on December 17th.

Evans is founder and chairman of the Marcus Evans Group, a global events group covering business conferences, exhibitions, advertising and corporate hospitality.

Club chairman David Sheepshanks (pictured) has called for the extraordinary general meeting in an open letter to all shareholders, putting the scheduled annual general meeting back until January 2008.

In the letter, Sheepshanks said: "Marcus Evans prizes the values of the club and it's important position in the local community.

"He has also been drawn by the commercial opportunities and synergies with his own business.

"He is confident that, with his extensive contacts and experience, he can enhance the club's opportunities including those relating to hospitality, sponsorship and events management, thereby improving the club's commercial revenues and increasing the funds available for investment in the playing squad."

The club is set to announce an operating profit of £174,000, due to the £2.6 million pounds received from the sell-on clause inserted in the transfer of former player Darren Bent, who was sold by Charlton to Tottenham for £16.5 million in the summer.

Tony Mabert / Eurosport