The PLC which owns 12.5% of the club is holding its Annual General Meeting tonight in the Sir Bobby Robson Suite in the South Stand. More than 3,000 supporters are shareholders in the PLC, which is chaired by former club chairman David Sheepshanks.

At tonight's meeting shareholders will vote on re-electing PLC board members John Kerr and Martin Pitcher and electing new chief executive Simon Clegg to the PLC board. At last year's PLC AGM, the first since Marcus Evans's takeover, questions on the overall club's position were taken from the floor.

Along with the annual report and accounts for the PLC, shareholders were also sent an information sheet outlining the club's current financial situation which revealed that the Blues recorded a loss of more than £10 million in the financial year to June.

Chief executive Simon Clegg told TWTD that the loss was the result of Marcus Evans's ongoing investment in the squad: “We have invested in the playing stock. Those results are for the last financial year and it’s recognised that Jim was given the opportunity to bring in a lot of new players and the player wage bill increased substantially.

“But we are running this club on a tight financial model and are lucky to have the support of Marcus Evans to ensure that despite that tight financial model, we can continue to invest in the playing stock to deliver the results we’re after.

“The club continues to be beholden to the financial support Marcus Evans is giving and Marcus has made it very clear that he’s committed for the long-term.”

Photo: Action Images

TractorRoyNo1 added 13:47 - Nov 24 Sorry can't make it, a 250 mile round trip to check if I can trade my ITFC shares for a paper clip isn't much fun on a wet and windy Tuesday night. I am sorry for people who lost 'serious money' when Evans took over, they had the Club at heart but didn't want to go all the way, he was the only one with the b@lls to negotiate with Barclays and Aviva. Good luck to him! I hope he can sell us for £200m in a year or so, becasue that will mean we are doing well in the Premiership and Roy Keane would probably be manager of Man Utd, however if he put it on the market today he would struggle to find any takers who can afford to cover the wage bill.

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zebra added 14:07 - Nov 24 If I thought that there was the remotest possibility of my attendance making a scrap of difference to our Club then I would make the long round trip to come to the AGM. My first ever game in 1956 [Ipswich 6 Torquay 1 - I think] got me hooked, and I shall remain a fan whatever happens to 'my' team. We've been through bad patches before and will no doubt again. Stop moaning you Keane bashers - the sun is going to shine in a clear BLUE sky soon.

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depressed added 14:22 - Nov 24 M E. has stated that he has invested in the club long term,so why would he want to sell now ? TractorRoyNo1..Let me purchase your shares..iv'e got 2 boxes of paper clips !
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flyingdutchman added 14:35 - Nov 24 easy thinking what a big mistake getting money waster keane in
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