Arizona Pension Fund to Bank Profit After English Football Deal

Football is littered with tales of billionaires losing vast sums on dreams of glory. A group of firefighters and prison officers from Arizona look set to buck that trend.

The Arizona Public Safety Personnel Retirement System is in talks to sell a stake in Ipswich Town FC for a significant profit, four years after becoming the English football club’s main backer, according to people familiar with the matter.

US businessman and minority shareholder Brett Johnson is raising as much as £214 million ($288 million) to buy more shares in Ipswich, including some of PSPRS’s interest, the people said, asking not ...