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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

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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T

his is brilliant! All these years of moral ambiguity, grey areas of offence and context..now we have a simple, easy to follow guide to right and wrong. What did you do today? I kicked the face off a panda . Oh well, you didn't rape, kill anyone or abuse a minor, knock yourself champ.

megabrow (cufc)
Redknapp leaps to Mackay defence

I

wonder if he'd feel the same way if he wasn't a white, non-jewish heterosexual male. Because Mackay has basically insulted everyone else!

Jay_D
Redknapp leaps to Mackay defence

C

heers Harry. I was wondering if he'd murdered anyone

Ezy_Rider
Redknapp leaps to Mackay defence

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