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New figures show Ipswich Town Football Club’s financial situation has improved since last year

22:39 08 December 2014

Ipswich Town players celebrate after fourth goal netted against Leeds United.

Ipswich Town players celebrate after fourth goal netted against Leeds United.

Copyright Ashley Pickering

Ipswich Town Football Club’s financial losses fell in the last year, newly published accounts have revealed.

The overall loss made by the club in the year ending June 2014 was £7.1million compared to a loss of £9.7million in 2013.

However, the club’s debt has increased by £3.5million to £86million.

The sale of left back Aaron Cresswell to West Ham in the summer could be worth as much as £7m in Town, depending on appearances and other milestones written into the contract. This sale will not figure until next year’s accounts.

These figures were presented at the club’s annual general meeting held at Portman Road last night.

Ticket sales were lower than last season due to reduction in attendances.

However, the club takes pride in the fact that their attendance remained higher than the average Championship attendance of 16,555.

The amount spent on wages was £13.9million compared to £15million last year.

This is reflected in the club’s direct costs which reduced from £17.8million in 2012-13 to £16.7million this year.

The club’s debt has risen from £82.4million to £86million.

However, ITFC are not in debt to any financial institution, and £38.1million of their debt represents the ongoing funding and player investment provided by owner and chairman, Marcus Evans.

71 comments

  • Go away steroo we can all see through your pseudonyms. You are no longer the drollest troll.

    Report this comment

    TrueBlue

    Friday, December 12, 2014

  • Go away steroo we can all see through your pseudonyms. You are no longer the drollest troll.

    Report this comment

    TrueBlue

    Friday, December 12, 2014

  • Daniel, the problem will be when the multi millionaire owner jogs on,not me.And NB if I tell you that I love the Town will that stop you talking out of your back passage?

    Report this comment

    irongloves

    Friday, December 12, 2014

  • Staidtastic, so proud to have the approval of an obvious master, but lets see how your comments go as the season progresses.

    Report this comment

    Cyril Baker

    Thursday, December 11, 2014

  • ha ha sorry Tel; didn't mean to be ageist, you tend to speak mostly sense most of the time. Shame this can't be said for a few others on here! Although Cyril; the last post was decent.

    Report this comment

    Staidtastic

    Thursday, December 11, 2014

  • Thankfully staidtastic has seen fit to put us older posters on here on the road to understanding. I might have been involved with football at all levels for many years, but will always doff my cap to a real master.

    Report this comment

    tel

    Thursday, December 11, 2014

  • At last, Cyril, yes, if the club spends money the debt must rise, its catch 22 for us an many other clubs, the only thing that can really make an impact is prem football and we look closer to that than we have been for years so lets just support the team and hope to god our form continues. I would be happy to see the current suqad reatined in the next transfer window. That to me would be a strong statement, then come the summer if we dont go up and someone offers 10 mil plus for Mings so be it, by cheap sell high, thats how clubs stay afloat, even chelsea do it, on a much larger scale mind you. They buy young talent, loan them out to build a reputation and then either bring them into the 1st team squad or sell at a profit which is reivested in the club. They are light years ahead of most big clubs in the way the do buisness, sadly a club like ours cannot afford to do that

    Report this comment

    TrueBlue

    Thursday, December 11, 2014

  • Staidtastic, I fully agree with you comments, but a lot of owners are prepared to back their clubs to massive amounts. However nobody can argue now that any money whatsoever has gone into the team this season and over ME reign more money has been taken out in transfers than put in. I have to say I do not know what I want at the moment, I do want the squad strengthened, but I also want the debt that strangles us down and I am afraid at the moment you cannot get both.

    Report this comment

    Cyril Baker

    Thursday, December 11, 2014

  • The problem that a lot of the older posters fail to see is simply this: Football has changed, it is extremely difficult to operate at a profit in todays climate in any league other than the Premier League. To compete and attract the better players the wages are extremely high. Sifting through the primary school maths on this thread and reading the ITFC financial report it seems to me that even if we get full capacity in the ground every game this will not cover the wages. let alone potential transfer fees etc..etc.. This is a ridiculous situation. Why should we rely on rich owners to subsidise the football. Financial fair play was a good idea but it hasn't worked and they've bottled it. More clubs are going to go out of business, the England team is going to suffer more than it already has. Evans has had his fingers burnt "investing" in players and has done the sensible thing. But we are still making a massive loss! Worrying times for football in general. So im enjoying Town while they're doing well. Which is what its all about. Long may it continue.

    Report this comment

    Staidtastic

    Thursday, December 11, 2014

  • Staidtastic, fair comment, that was absolute rubbish, but I believe I went on to explain in my next entry, however to make sure I belive we will sell Mings and Magoldrick, and possibly one of our centre defence and they will be replaced with peanuts.

    Report this comment

    Cyril Baker

    Thursday, December 11, 2014

  • "Just remember investment is putting in more than you take out." Ok i'll remember that sound piece of financial advice!! ha ha.

    Report this comment

    Staidtastic

    Thursday, December 11, 2014

  • So tom, if we sell Mings, Magolldrick and for around 15m and bring in a three new players for 10m you see that as investment do you.

    Report this comment

    Cyril Baker

    Thursday, December 11, 2014

  • Tom, what are you talking about, thats exactly what I have said if you werent so ready to pick me up you would read what I have said. As for your comments about wages, this goes back a long time, so if you are not in the picture you are best to say nothing.

    Report this comment

    Cyril Baker

    Thursday, December 11, 2014

  • Cyril, surely an investment is the opposite of putting more in than you take out! That is the point of investing. When I buy a bond, I spend £10 but I want to receive £13 in a few years time. That is the whole point of investments - you get a return on your money. So I think you have misunderstood the whole debate. In terms of the wage bill, I don't know why you only include 18 first team players as the squad has about 30, plus the management and training staff, plus the board, plus all the national insurance (and pension?) contributions on top of the wages paid out. So I think you seriously understate the wage bill but i am more concerned about your misunderstanding of an investment. As above, only a fool puts in more than they can recover! That's called a bad investment.

    Report this comment

    Tom

    Thursday, December 11, 2014

  • So just tell us Cyril, what he has been able to take out and just forget about the £80 million or so he has put in.

    Report this comment

    tel

    Thursday, December 11, 2014

  • David, when you come in on other peoples conversations, which everyone is entitled to do, just make sure you get the gist of the case. I was argueing about wages of the lst team squad.

    Report this comment

    Cyril Baker

    Wednesday, December 10, 2014

  • wages costs=£13.9 million.FACT.

    Report this comment

    david peters

    Wednesday, December 10, 2014

  • tel,redhotitfc, you know that you have always argued when I say he has not invested in the team, you say he pays the wages, well that is not necessarily the case. We can bring this to a close now and wait for the transfer window. Just remember investment is putting in more than you take out.

    Report this comment

    Cyril Baker

    Wednesday, December 10, 2014

  • Tel we need to caveat that by saying total income includes prize money, gate recipts, tv revenue, shirt sales and other merch, pies, beer etc. Gate recipts alone did not cover half the wage bill. I say this to ensure some people do not get confused

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • I think we can all accept that the total income almost covers the wages, however there is still the utility bills, maintenance machinery costs etc,

    Report this comment

    tel

    Wednesday, December 10, 2014

  • Gate recipts are 5 mil. Wages 13.9 mil

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • Tom, I think we are talking at cross purposes now, lets accept the figure of the audited accounts at just under 5m divide that by the first team squad which I think is around 18 which if that number is correct gives each squad member on average £250000 per season or around £5000 per week is that about right or am I miles out, thats all I am asking and ever have asked, but we got off track a bit perhaps I did not get my point over.

    Report this comment

    Cyril Baker

    Wednesday, December 10, 2014

  • Cyril, for you to be right is contingent on the club, Marcus Evans, it's chartered accountants, the inland revenue, the posters on here and last of all me, all being wrong. Your suggestion that the audited accounts (which you accept you have never seen) are somehow wrong is simply ludicrous. You also fail to take account of discounted matches (eg cup games and bring children in for a few quid, plus the spread is not equal, but I suggest is likely (from s cursory look around PR) to include a majority of children on very cheap season tickets - amongst the cheapest in the country). Cyril, as so many have said below, you don't listen or follow a logical debate. You just repeat the same view that you started with regardless of the evidence in front of you. It is getting pretty tedious.

    Report this comment

    Tom

    Wednesday, December 10, 2014

  • Cyril, if the wage bill is not covered by the clubs incommings how do you propse it is paid if ME has not invested. The clubs losses show that we are just within FFP rules inclusing allownace for owner investment (something else you have got wrong) so we can see ME has invested almost the maxium ammount permissable under FFP rules. 7.2 million loss speaks for itself. Based on your figure of £13.60 that dosnt even cover half the wage bill....;

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • gate receipts still remain at £4.981 million and that's a fact.

    Report this comment

    david peters

    Wednesday, December 10, 2014

  • Irongloves. How sad. Your pathetic efforts at carrot road have reduced you to trying to poor cold water on Town's superior performances in the Championship. I think that you should worry more about your sad bunch of misfits dropping into division one where their past and present performances of course would adequately suit. Never mind, you will soon find your level, where I'm sure that club and supporters alike, will feel much happier.

    Report this comment

    NB

    Wednesday, December 10, 2014

  • So after all the hot air, can we get back to the original point. I said there was sufficient money in ticket sales to pay the team wages many times. I have already accepted that many times was a bit over the top but is anyone big enough to accept that ME will not have to invest this season to pay the wages bill I believe that is the case.

    Report this comment

    Cyril Baker

    Wednesday, December 10, 2014

  • Cyril I promise you, nobody cares anymore. If you want to stay in your own little world, so be it.

    Report this comment

    tel

    Wednesday, December 10, 2014

  • Ah! Got it! Cyril is a devotee of the Tesco school of accounting! Now that I have worked that one out I think I will back out gracefully from this fascinating exchange. Anyone like to talk about the team?

    Report this comment

    Ian Williams

    Wednesday, December 10, 2014

  • Are you now suggesting the books have been cooked Cyril, even though they have been independently audited? That's surely libellous.I have used your figures, so now you don't Belive your own figures? Poor form, Like a child who's lost a game your just going to take yourself home and not play anymore. Total holocaust denial mentality. Your figures have proven you wrong. Skills.

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • Make yourself useful Cyril. Sort out Osbourne's national debt.

    Report this comment

    graham garrod

    Wednesday, December 10, 2014

  • He goes on about this so much on account he's got nothing better to do.

    Report this comment

    El Hueso

    Wednesday, December 10, 2014

  • Thank God, Captain Scarlett has saved the admin

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • is anybody out there? have the archant team been kidnapped by the misterons?

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • If it turned out that everybody, including the auditors were wrong, and Cyrils latest obsession was true, what actual difference would it make. None whatsoever. I think enough time has been wasted on this topic. Cyril, talk amongst yourself.

    Report this comment

    tel

    Wednesday, December 10, 2014

  • I was thinking earlier that Cyril has gone missing from the usual threads and even missed listening in the radio last week so wasn't able to give his usual expert analysis. So, where could he go? Let's try the accounts because that could still be a cause for negative comment. And, sure enough, there he is arguing that an audited set of published accounts cannot possibly be right. Despite several mentioning it until they are blue in the face, he still doesn't get it. Vintage blinkered Cyril. And, Ian, he doesn't go near the ground so he won't be able to take up your suggestion. You do our generation no favours Cyril acting with mule-like stubbornness

    Report this comment

    55 years a blue

    Wednesday, December 10, 2014

  • serioulsy how many times do you have to score for norwich before getting post through on here these days?

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • Cyril, take your average ticlet price x it bt 17,000 to give you gate recipts per game, x that by 23 for the year and then rembember that your figure still does not allow for promtions etc running throughout the year and you will see you have cunninly proved Tom to be quite correct

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • Cyril: first point to note is (as many have already indicated in one way or another) the independently audited financial report will be 100% correct. So, whether you like it or not, the Gate Receipts were £4.981 million - end of story. Second point: I think you underestimate the effect of season ticket pricing together with the quite generous discounts on offer to Seniors NUSunder 20 and under 16. Remember that Town offer discounts to Seniors at the age of 60 (many other clubs don't offer this concession until you reach 65). Next time you are in the ground just have a look at the people sitting next to you and work out the average age!

    Report this comment

    Ian Williams

    Wednesday, December 10, 2014

  • Oh my Cyril, have you run the figues you come up with? Clearly not let me do it for you. Avergae ticket price you have offered is £13.60 multiply and average gate of 17,000 equals gate recipts of £231,200 per home game, multiply that by 23 home games equals total gate recipts of £5,317,600 that still dosnt account for various factors such as promtions through the year. Well done you have proved Tom is pretty spot on

    Report this comment

    TrueBlue

    Wednesday, December 10, 2014

  • Obviously Tom you are busy so I have done it for you. I have taken the lowest prices on the price list and assumed the split is equal. 1 Ticket £21 1 Ticket £16 1 Ticket £15 1 Ticket £10.50 1 Ticket £ 5.50 Total £68 Average Price £13.60 I am sure the actual figures would be much better than this, so you perfect explanation is flawed, Why.

    Report this comment

    Cyril Baker

    Wednesday, December 10, 2014

  • If the total debt is 86 million and ME has 38.1 owed to him where lives the remaining 47.9 if it's not a financial institution? When ME bought the club the debt was reported at 30 million. ME is a very successful business man so you do wonder just why the debt has been allowed to grow to such a size but I can't see how anyone can question ME's financial commitment to the club. Also, as Ipswich are supposed to be one of the better financially run clubs at the moment and there are very few clubs that are debt free you just wonder how football can possibly carry on like this. Shows perhaps the FL should have stuck to the original fair play rules for the Championship.

    Report this comment

    Tim Bartlett

    Tuesday, December 9, 2014

  • OK Tom convince me, just give me your estimate taking a crown of 16500 and divide it for me into the various catergories. You can base it on the lower band.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • That sums you up Cyril, you will not even accept facts if they don't fit in with your conspiracy theories.

    Report this comment

    tel

    Tuesday, December 9, 2014

  • But Cyril, we have just set out a perfectly rational argument as to why average prices are in the region of £12-£13, since children's and other discount tickets are a lot less than match day tickets for adults - You do get that, don't you? You know, objective and rational points supported by clear evidence. Or do you struggle with that concept, as you apparently struggle with most other points on here?

    Report this comment

    Tom

    Tuesday, December 9, 2014

  • If thats what the accounts show, then you should be able to believe them, I have to say however I just cannot see it.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • Not to mention that there are categories for U16, Student, U20 and Senior.

    Report this comment

    tel

    Tuesday, December 9, 2014

  • Cyril, there are 23 home league matches not 24 so your figures are wrong but in any event if those gate receipts include all matches then they will include cup games (and possibly friendly matches)in addition to league games. As children's prices are so low (a few quid per game) that brings the average down significantly. The other point is that those figures include season ticket holders, who also get a considerable discount on the match day price. On the basis of about 12,000 season ticket holders, a number of whom get student or children's reduced prices, that only leaves a few thousand who pay on the gate. So around £12 to £13 average sounds right, including discounted tickets. If you strip them out, I suspect the price would be over £20.

    Report this comment

    Tom

    Tuesday, December 9, 2014

  • Ipswich Town financial highlights 201314 gate receipts £4.981 million Commercial income £3.892 million League radio television £4.677 turnover £13.550000

    Report this comment

    tel

    Tuesday, December 9, 2014

  • telredhotitfc, I cannot see the gate receipts you mention, however if you have seen them lets use them. Gate receipts 5000000 Average gate over 24 matches =16500 This would give an average ticket price of £12.62. I dont think so or have I made a mistake, Possibly I have as that cannot be right.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • The trouble is Cyril, you will not listen. Type into your computer ITFC accounts, they have been published. Gate receipts were under £5 million for last season.

    Report this comment

    tel

    Tuesday, December 9, 2014

  • telredhotitfc, now that true blue has explained it to you perhaps you can accept that we have just about paid our wages out of gate receipts last season, and now that we are enjoying higher prices and higher gates ME will not need to invest to team wages as the figures quoted are for all staff not just the team. 7million, just think what thats worth in tax to set agains his other companies.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • tel, maybe its the price of the shirts which covers the gap between wages and gate receipts! - costly - especially for the kids tops!

    Report this comment

    daniel ......

    Tuesday, December 9, 2014

  • It may be twenty thousand now but it wasn't last year, then take into account the concessions and deals. Gate receipts do not come close to paying the wages.

    Report this comment

    tel

    Tuesday, December 9, 2014

  • Blue and White, the club looses money so the debt will increase because the club runs at a loss, but the loss the club is running at is less tha previous years IE closer to a break even model, this coupled with reductions in costs and the sustaibale approrach which has been adopted means that, that trend should continue

    Report this comment

    TrueBlue

    Tuesday, December 9, 2014

  • "New figures show Ipswich Town Football Club’s financial situation has improved since last year" --- "However, the club’s debt has increased by £3.5million to £86million." I am confused... Not trying to stir things up, but just asking quite seriously how these two statements can be compatible with each other. If I (as an individual) were to overspend, lose income at the same time, and my debts increased, how could I possibly claim that my financial situation was improved?

    Report this comment

    blue&white

    Tuesday, December 9, 2014

  • irongloves they're not insolvent, they're not unable to meet their financial obligations, they are owned by an individual who has taken on the debt and has many more millions to support any promotion. plus with TV money, boosted attendances and even parachute money if we come straight back down, we'll be absolutely fine...in other words jog on

    Report this comment

    daniel ......

    Tuesday, December 9, 2014

  • tel, ticket prices are far more than that unless you are referring to season tickets

    Report this comment

    daniel ......

    Tuesday, December 9, 2014

  • I see steroo has a new nom de plume

    Report this comment

    TrueBlue

    Tuesday, December 9, 2014

  • take an average gate of 20k per home game multiply by an average price of £30 per ticket = £600,000 per game x by 26 home games = £13.9 million ish thus just covering the wage bill and not as you state Cyril multiple times over. The average ticket price is genreous as is the average attendance which we know to be nearer 17k especially over the past few seaosns, add to that the fact the wages were higer in previous seaons we can clearly see you are plainly wrong

    Report this comment

    TrueBlue

    Tuesday, December 9, 2014

  • No Cyril, it confirms that you are horribly wrong again. If you would like to look at your copy of the accounts, you will find that as David Peters has pointed out, gate receipts were less than £5 million . Best to say nothing else about it.

    Report this comment

    tel

    Tuesday, December 9, 2014

  • It's hard to see how Town can survive long,or even short term with this colossal debt increasing every season.With no asset value even close enough to cover it the Club is now insolvent.If promotion is achieved even applying the total amount of Premiership income and spending nothing on the squad would still nowhere near eliminate the debt.Clearly,without spending on players would limit Promotion to one season only.It is difficult to see how continuing in the Championship can prevent another Administration and Town would be better off in Leagues one or two where if the current level of support is maintained and with a much reduced wage bill it might be possible to break even in a season.

    Report this comment

    irongloves

    Tuesday, December 9, 2014

  • ,tel, yes I did take it that every game was played at home but of course you have conveniently knocked over 500 tickets per match and of course you know very well the average price per ticket is way over £20 per ticket,and of course this is total wages of the club not just the tream.Rather confirms what I have said.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • wages costs=£13.9 million.gate receipts=4.981. million.

    Report this comment

    david peters

    Tuesday, December 9, 2014

  • beerlover. I suppose that's all that you have to throw in our direction now. Desperate times hey? lol

    Report this comment

    NB

    Tuesday, December 9, 2014

  • CyrilMarcus your figures are interesting. You state that ticket prices pay the wages several times over. Wage bill £13 million Hmm. 16000tickets at £20= £320 000 by 24 games = £7.680000

    Report this comment

    tel

    Tuesday, December 9, 2014

  • How long before they decide to go bust again and leave dozens if not hundreds of small local suppliers taking a massive financial hit once more, i wonder.

    Report this comment

    beerlover

    Tuesday, December 9, 2014

  • telredhotitfc, since you appear to need my guideance, I will help you out. When I claim ME invests nothing in the team you always argue that he pays the wages, there is nothging in these figures to suggest this in fact ticket sales pay for the wages many times over, might I suggest ME money goes on painting the turnstiles. Now try not to be abusive, and answer sensibly.

    Report this comment

    Cyril Baker

    Tuesday, December 9, 2014

  • No cyril thinks anything less than Evans writting off the money we owe is good enough and that this is all a lie and that Evans is the devil and as well his view of "Good old norwich board" huh cyril!

    Report this comment

    Peter Bland

    Tuesday, December 9, 2014

  • Has anybody asked Cyril about this?

    Report this comment

    tel

    Tuesday, December 9, 2014

  • Thank you Marcus Evans, hope this time next year, after promotion, our accounts look a whole lot better !!

    Report this comment

    don wilson

    Tuesday, December 9, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

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