Ipswich announce losses of almost £16m for financial year en
Fri Apr 05, 2013 11:36 am
Ipswich have announced losses of almost £16m for the financial year ending June 2012.
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.
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.
Re: Ipswich announce losses of almost £16m for financial yea
Fri Apr 05, 2013 8:34 pm
Chopra still in charge of petty cash and investments then 
Re: Ipswich announce losses of almost £16m for financial yea
Sat Apr 06, 2013 6:59 am
troobloo3339 wrote:Chopra still in charge of petty cash and investments then
Or they need to stop backing his tips..