Chief executive Simon Clegg says Town’s debt will continue to grow while the Blues continue to be a Championship club. The recently released accounts for the financial year ending June 2009 showed the club make a £10.32 million loss and its debt, almost entirely owed to Marcus Evans, rise to £35.7 million.

Clegg says fans shouldn’t be too concerned at this rising level of debt: “I’m afraid debt in the Championship is a matter of life, it’s just the way it is with football clubs. What is important is that we try our utmost to get the balance right between investing in the club to allow us to get promoted but operate in a lean, efficient way. That’s one of the balances I have in this job.

“What’s also important is the ongoing commitment of Marcus Evans. Marcus has made it very clear that he’s in for the long run. He recognises that in the Championship no clubs are making money and therefore it’s going to continue costing him money.

“That’s why we have to operate efficiently and effectively to mitigate that and ensure that any benefit that accrues as a result of those efficiencies can be invested into the playing squad.”

Clegg says Town’s debt is likely to continue to increase until such time as the club is in the Premier League - “That is not an unfair assumption” — and admits the spending can’t go on ad infinitum, however, he expects Marcus Evans’s millions to ultimately return the club to the big time: “Marcus is hugely committed to the club and is desperate to see this club playing Premier League football.

“He runs a highly successful business which continues to be extremely profitable and he feels that through that he can continue to invest in the football club.”

Clegg says the manner in which the club’s debt would be reduced once Town are in the Premier League is yet to be set out: “I have to say we’ve not laid that down in terms of how that would happen.

“The most important thing here - and this is why we want to build a solid foundation for this football club - is that we don’t become a yo-yo club.

“It’s about going into the Premier League and staying in the Premier League and then we can mitigate those losses over the period of time that we’re up there. To go up and come down, even with the parachute payments, does make it quite challenging.

“That’s why we made the massive development at the training ground over the close season to try and bring the facilities up to the standard which you would expect of a Premier League club.”

Clegg says that while moves will be made to reduce Town’s debt once in the Premier League, that won’t be done at the expense of improving the club’s infrastructure: “[We will be make] sure that we are continuing to properly invest in the club to allow us to stay up there, if that includes a new Cobbold Stand, a new pitch, new pitch covers, because they are coming to the end of their working life, and further enhancement of the facilities up at Playford Road, then so be it.”

The chief executive says a short spell in the top flight would give the club’s finances a boost but nothing compared with a longer term stay: “We need to go into the Premier League and then stay in the Premier League going forward.

“Coming down again is going to improve our current financial position but this is a very hard division to get out of, so we want to make sure that once we do get up there, we stay up there.”

Photo: Action Images

bjc added 10:50 - Dec 18 whos this clegg bloke never heard of him
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superblueflude added 10:59 - Dec 18 To me it sounds as if the club are in safe hands, well done cleggs and evans long term plan in place, i see a very bright future for town
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dobbie73 added 11:02 - Dec 18 I assume you are joking bjc ....? Agree with superblueflude - it DOES sound as though the future (at least the short and medium term future) of the club is stable and in good hands. KEANO! CLEGGO! EVANSO! *WINK*
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CavendishBlue added 11:06 - Dec 18 Having met Evans I can asure you he is a man of his word and if anything I would expect him to be more impatient for success than most on here.
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6fish added 11:08 - Dec 18 Hmm. Can't agree with "all sounds good" I'm afraid. The plan sounds fine as long as Marcus doesn't have a heart attack or his business suffer problems. Can't say I'm happy about having my clubs future so dependant on one mans health and welfare!
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jamie22 added 11:28 - Dec 18 bjc do you make comments like that on purpose?
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superblueflude added 11:34 - Dec 18 6FISH, Look at all clubs most are in debt, what clegg is saying is that we have made foundations to make sure that we won't fold but can also be succesful, yes we may be in dept with Mr Evans but thats a lot better then being in debt to norwich union etc. remember portman road is owned by the council so never ever will this club fold.
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TractorRoyNo1 added 14:00 - Dec 18 I think the supporters clubs should arrange body guards for Marcus, if he was knocked over by a bus we would be doomed. You're a top man - "thank you for keeping us afloat", if one day you can make some money out of this medium-long term investment good luck to you!
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FriskinPriskin1 added 14:18 - Dec 18 Surely the trick ME is trying to pull is getting us promoted, taking the cash and selling us on for a profit (?) 'Long term', could in time be a promotion (?) and then possibly 2 years in the prem (generating £100m?). Then ME sells us. None of which seem feasible, or more worringly worth his bother. Or have I made this too simplistic?
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Blueknight85 added 16:08 - Dec 18 BJC ....clegg was the man behind the british olympic team how can you not know this as a town fan hes been here ages now. and the club isnt dependant on marcus evans health....if he has heart attack like any buisness some1 would be taking them over we wouldnt just become ownerless lol
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Beattie_agrees added 16:43 - Dec 18 £35.7 M .Very, very worrying. The Executive Board seem arogantly sure that we will get into the prem league soon and finances will be settled. As much as I hope & pray this will happen, chances are that we won't do it for many many years yet with so many 'big' clubs now chasing the same dream. What will happen then?? ME is a businessman and will want his money back. It will be the death of our club.

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62WasBest added 17:53 - Dec 18 “I'm afraid debt in the Championship is a matter of life, it's just the way it is with football clubs." - Clegg. What an indictment of the people running football. Can't see any difference here, only of scale, to the folk who got into trouble running up debt against the 'value' of their houses. The owners are actually gambling with clubs - clubs that folk have an emotional bond with - knowing that if they go bust they are the premier creditors - so as long as there are assets near in excess of the debt . If they hit the jackpot, well and good, If not, the owner cannot lose. Seems to me this the same mentality that got the banks and this country into the mess. Frightening. Am I alone in preferring to support a solvent club in League 2 than an insolvent one in a higher league?

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moomoosereni added 19:52 - Dec 18 Whilst on paper it looks odd to be discussing £35million worth of debt and yet not be overly concerned there are reasons for it. ie how do we know the club would be screwed if Marcus Evans keeled over and died? Wouldn't worry about that I would imagine there is a contingency in place that covers incidents such as that so that the club can't just be left high and dry with a massive debt. I'd like to think the club would not be stupid enough to enter any agreement without sorting something like that out first! In addition to this, you only have to look at clubs in the premier league. Both Fulham and Chelsea are in huge debt along with others, but of course having rich owners and being in the premier league means it doesn't matter. We are lucky to be in this position where we can still "comfortably" run a club in the championship with a debt, yet not be too concerned about it, well yet anyway. The people in charge clearly know that success is everything, so all the Keane haters out there, if you are proved right and Keane doesn't get us promoted then you will get your wish, he will either get sacked or leave after two years. Let me ask you this, would you rather have us sign a manager when we are skint who has literally no previous experience, never played for a top club and appeared to have little drive or ambition to desperately get us into the premiership? Or would you want the opposite to that and a board of execs who want it too because it is where a good sized traditional club like us belongs!

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itfc1981 added 21:17 - Dec 18 New cobold stand! wahoooooo! soon be bigger than the neu camp.
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apobase added 06:58 - Dec 19 "Am I alone in preferring to support a solvent club in League 2 than an insolvent one in a higher league? " No you're not. The championship has really become a sad state of affairs. I feel like were sitting at the roulette table rather than at a football ground.
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corshamblue added 10:22 - Dec 19 Onwards and Upwards! COYB!
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