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.

TEAMtalk Facebook Fan Page

The TEAMtalk fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Most Commented

Readers' Comments

I

think all those names linked to United exits make sense. Kagawa has never really looked like hitting the form he had at Dortmund and Fellaini is radioactive after last season (even though I think he's been unfairly singled out for criticism). Nani and Anderson have had more than their fair share of chances so they are done, and Hernandez deserves better than warming a bench.

ted, manchester
The Insecure Gossip

H

e'll be off to Spurs (or better) in January and I don't blame him. Looking forward to re-signing Grant Holt as his replacement though.

notalentjones
Benteke ignoring speculation

I

n fairness, he does look absolutely shattered in that photo.....

FairyNuff
Shaw told to shape up

Footer 365

Champions League: John Collins claims Celtic will have to be at best to get past Legia Warsaw

John Collins says Legia Warsaw pose a huge threat to his dream of Champions League football with Celtic this season.

Premier League: Daniel Sturridge confident Liverpool can shine without Luis Suarez

Daniel Sturridge believes Liverpool have the squad to handle Luis Suarez's exit and will challenge for top honours.

Transfer news: Simon Mignolet backs Liverpool target Divock Origi and welcomes Pepe Reina return

Liverpool are closing in on Divock Origi and the Belgium youngster has been tipped to shine in the Premier League.

Mail Box

Don't You Worry About Southampton...

We can't help but agree with one mailboxer who tries to calm the crisis-mongers gathering around Southampton, while we have mails on Man United's squad...

No Wonder Wenger Doesn't Buy British

That's if reports that Calum Chambers cost Arsenal £16m are to be believed. The English premium shows no signs of disappearing. Plus, worrying about poor Southampton...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property