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Ipswich announce big losses

Ipswich have announced losses of almost £16m for the financial year ending June 2012.

Last Updated: 05/04/13 at 13:48 Post Comment

Portman Road. Big losses

Portman Road. Big losses

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Lower figures for gate receipts, and media and commercial income, contributed to the losses along with a higher wage bill and "other expenses" of £800,000.

Ipswich made £10.8m on player transfers in the year ending June 2011 following the sales of Connor Wickham and Jon Walters, but that figure plummeted to just £248,000 over the next 12 months.

The overall turnover was down by over £2m to £15.04m, while the club's overall debt rose to £79.62m.

Club officials have set their sights on reducing the wage bill to prepare for the implementation of the Financial Fair Play regulations.

Ipswich's wages-to-turnover ratio is one of the highest in the Championship at 119% - an increase of 17% on the previous year.

The accounts also revealed that former Town chief executive Simon Clegg earned an annual salary of £193,000.

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e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

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Toure: I am staying with City

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uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

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Toure: I am staying with City

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