Town boss defends bonus

IPSWICH Town chairman David Sheepshanks today defended his decision to accept a £25,000 bonus after calls for him to donate it to the club's academy.Ipswich Town First, the supporters' trust set up to hold shares in the club, attacked him for taking the bonus just three years after he was at the helm as the club went into administration.

IPSWICH Town chairman David Sheepshanks today defended his decision to accept a £25,000 bonus after calls for him to donate it to the club's academy.

Ipswich Town First, the supporters' trust set up to hold shares in the club, attacked him for taking the bonus just three years after he was at the helm as the club went into administration.

Colin Kreidewolf, from the trust, said its argument was only with Mr Sheepshanks - it did not have any problems with the three other executive directors getting a bonus.

Chief executive Derek Bowden received a bonus of £46,000, finance director Anna Hughes received a £23,000 bonus, and sales and marketing director Andrew Goulborn a £10,000 bonus.

Mr Kreidewolf said: “Derek Bowden arrived at the club only just before we went into administration and the other two were appointed directors last year.

“They were all given targets to meet and these triggered the bonuses. There is nothing wrong with that - frankly their salaries are not huge in terms of some other businesses of the same size.

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“However in Mr Sheepshanks' case it is different - he was in charge before the administration, throughout the period of administration and is still chairman.

“Many people will be surprised he has taken a bonus of £25,000 - it would have been more appropriate if he had donated that to the club's academy.”

The bonuses were agreed at the start of the financial year by the club's remuneration committee - non-executive directors led by former chairman John Kerr.

Mr Sheepshanks said they were triggered because the club achieved these targets.

He said: “On the pitch last year was not a great success, but we did make improvements off the field and these bonus to the directors reflect that.

“Since we emerged from administration I have invested £100,000 of my own money into the club. I have continued to work full-time for the club even though I am only paid on the basis of working here part time.”

Mr Sheepshanks also called for his acceptance of the payment to be put into context.

He said: “Financially at long last we can see the light at the end of the tunnel and we are talking about bonuses.

“I just hope we can get this into perspective.

“I took a lot of flak when things went wrong. As we all know, things go right or wrong on the pitch. I have taken responsibility for what went wrong years ago and I have taken responsibility for putting it right.”

During the last financial year the club lost £2.7 million. The previous financial year it lost £3.2 million.

Directors' salaries and bonuses:

David Sheepshanks: salary £69,000, bonus £25,000, benefits/pension £20,000. Total £114,000.

Derek Bowden: salary £153,000, bonus £46,000, benefits/pension £15,000. Total £214,000.

Andrew Goulborn: salary £75,000, bonus £10,000, benefits/pension £11,000. Total £96,000.

Anna Hughes: salary £56,000, bonus £23,000, pension £8,000.Total £87,000.

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