Town windfall already in budget
THE Premier League has announced details of a £90million 'solidarity package' to be shared out with the Football League over the next three years.But Town fans should not expect manager Jim Magilton to suddenly go out and recruit a host of new signings as Ipswich's share of the earmarked money has already been accounted for in the playing budget.
By Derek Davis
THE Premier League has announced details of a £90million 'solidarity package' to be shared out with the Football League over the next three years.
But Town fans should not expect manager Jim Magilton to suddenly go out and recruit a host of new signings as Ipswich's share of the earmarked money has already been accounted for in the playing budget.
As one of the clubs that finished below 13th place in the Championship last season, Town will get £775,000, as will Norwich City, who finished two places below them.
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Colchester United will pocket £1.1m as reward for their tenth-place finish but, like virtually all other clubs, have already started spending it.
It was revealed in May that the Premier League was ready to hand almost £12m to be shared among the Championship clubs this season, with the Blues expecting to get more than £600,000.
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Although the deal was ratified last month, a delay in announcing the package was caused by Sheffield United's challenge to West Ham's Premiership status due to the Carlos Tevez affair.
While Ipswich still have some spending power, most of the money allocated, along with the £800,000 they received from Charlton as the first instalment of the Darren Bent move, has gone on the first year wages of Neil Alexander, Tommy Miller and Pablo Counago. The Blues also plan to offer improved contracts to key players, with Alan Lee already in talks about a new deal.
As a member of the Football League Board, Blues' chairman David Sheepshanks played a part in the negotiations, which will see a total of £90m pumped into the game outside the Premiership.
The first £31.8million of that funding will be distributed next season:
£5.4million will go towards Football League Youth Development
£4million for Football League clubs' community investment
£11.2million solidarity payment to split amongst clubs in the Coca-Cola Championship, League One and League Two
Clubs will receive an extra £11.2million due to Sunderland and Birmingham no longer receiving parachute payments
The club who finished fifth in the Championship (Wolves) will receive £1,383,602, with the sixth-place club (Southampton) receiving around £75,000 less and so on until the 13th place club (Cardiff), who will receive £775,909. Clubs finishing 13th and below all receive that amount.
League One clubs will all receive £103,480 each, with £68,987 per League Two club.