Canaries to get paid by Town
NORWICH City may be one of Town's 500 unsecured creditors, but where others will get a paltry five per cent, the Canaries will get paid in full.The Evening Star can reveal that under a special agreement, any football club owed money by another gets preferential treatment and the whole debt is paid.
NORWICH City may be one of Town's 500 unsecured creditors, but where others will get a paltry five per cent, the Canaries will get paid in full.
The Evening Star can reveal that under a special agreement, any football club owed money by another gets preferential treatment and the whole debt is paid.
The Carrow Road club is owed £75 by Town for match day programmes ordered just before they went in to administration. If it was being treated the same as other unsecured creditors Norwich would have expected to receive just £3.75.
But if a small business is owed £1,500 by Ipswich Town, it will get just £75 while Norwich City is to be paid in full.
The news has prompted an outcry from some local business people, who have said it smacks of the 'old boys' network.'
One creditor told The Evening Star: "Talk about sticking together, it makes my blood boil. We get five per cent, Norwich gets 100 per cent."
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Another creditor said he felt it was rubbing salt in wounds that were getting deeper.
"All the time we are hearing about someone coming off light. Norwich is not short of money, Ipswich is but will come out of it smelling sweet and I feel like I've been stabbed in the back.
"It is painful and there's nothing we can do about it," this businessman added.
These folk and others like them who are being hit by losing 95 per cent of money Ipswich Town owes them are already making plans to hold their own creditors' meeting.
They want to get together to chew things over in a bid to let Mr Sheepshanks and the board at ITFC know they feel they have been badly treated.
Many are not only creditors but long-term supporters of Town who feel upset at the way things have gone.
As one creditor/lifetime supporter said: "I am gutted that the club I have always held in high esteem has come to this. It is not fair that so many people have lost money but the club has lost some credibility too.
"I will always support my football team but it doesn't mean I have to support what those in charge have brought it to," he added.
If you are a creditor and would like to be included in the unofficial creditors meeting to be held soon when a date, time and venue have been arranged, please contact Lynn Andrews in the first instance on 01473 324800 or e-mail: email@example.com