Ipswich Town are set to be bought out by a group of US investors, who then plan to hire Paul Cook as their new manager.

The Tractor Boys have been in decline for some time now, with fans growing increasingly frustrated as what they perceive to be a lack of action from owner Marcus Evans, and they are not happy with boss Paul Lambert.

However, the duo could be on the way out of Portman Road very soon, as The Athletic revealed that a US consortium, led by Los Angeles-based businessman Brett Johnson, are poised to purchase the Suffolk outfit for £17.5m from Evans.

The report states that Evans, who has invested £100m into the club, is prepared to write off debts to ensure the deal goes through.

Once it goes through, the update also confirms that Cook will succeed Lambert as the Ipswich boss.

The 54-year-old has a fine record in the third-tier, recently winning promotion with Wigan Athletic, which were the last club he managed before leaving last year.

The Tractor Boys are currently 10th in League One ahead of a weekend fixture against Doncaster.

The verdict

This is huge news for Ipswich, and their fans must be delighted as the club has been on the decline for some time now, and this would be a real boost.

From the news, you would have to say that Evans deserves huge credit, and even though he has made questionable decisions in the past, he clearly has the club at heart.

As for Cook, bringing him in would be a real coup, because he really is capable of managing at a higher level, so it would be a statement of intent from the new owners.

Thoughts? Let us know in the comments below.