Town joint-managing director Ian Milne has insisted that Town are on a sound financial footing despite the club failing to pay local suppliers and players’ agents on time. The Blues announced a £9.8 million loss last week with the debt now up to £82.4 million but with owner Marcus Evans continuing to back the annual shortfall.

Rumours that suppliers are unhappy that bills have gone unpaid have been circulating on the TWTD forum for a few weeks.

An email from Town financial director Mark Andrews to a current players’ agent, and understood to have been sent to a number of others, leaked to the EADT, asks for more time to pay an already well overdue invoice: “We are having to readdress our next six months’ cash flow due to being let down by a debtor and are requesting assistance from you in this regard.

“Given our circumstances, would you be prepared to accept the following revised payment terms for your invoices?”

Milne said in a statement: “We endeavour to meet the payment terms of the companies and individuals we work with but at times during the year, just like with any business, there are delays in cash flow. This is income coming into us as well as expenditure going out.

“I’d like to reiterate though that the football club is on very sound financial footing with the support of the owner, who remains fully committed to seeing Ipswich Town achieve his and the club’s goal of reaching the Premier League.”

Photo: Action Images

Tractorog added 09:31 - Dec 10 Debtor not paying on time... That'll be transfer money for it to make any difference. It's not TV money nor is it likely to be ME group. So who still owes us money for a player sale?
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casanovacrow added 09:33 - Dec 10 Wickham cash ?
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blueherts added 09:50 - Dec 10 Hmmmm , could be pressure on us to sell an asset in the window - me thinks ? I hope not - AC ? Players Agents can wait - leeches - local businesses not a good thing - GET THEM PAID FIRST - Maybe ME not selling enough hospitality in Sochi or Rio ?
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blues1 added 09:55 - Dec 10 doesn't necessarily have to be transfer money. could be from businesses who have held a function of some kind who haven't paid their bill. and before anyone comes on here to have a go at the club for not paying this money that is owed, that's how business works. people pay you what they owe and that money goes to pay those you owe. and yes, im sure as some1 will point out I guess me has enough money to have paid these debts neway, but that's not how it works

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bluehook added 10:15 - Dec 10 EADT stirring the sh*t again. Norwich based newspaper I understand?
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carsey added 10:25 - Dec 10 bluehook - agree with your comment regarding the EADT and it shouldn't be forgotten the Ipswich Star is also based in Norwich. Strangely when I posted comments on their web-sites regarding this they delete them or don't post at all. What worries me more is the £82.4 ITFC owe - I know it's not how business works these days but the Cobbolds will be turning in their graves to think the successful warm friendly family club has gone the way it has. Sooner or later ME is gonna do a runner then what happens?

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PhilTWTD added 10:37 - Dec 10 From what I gather the debtor is to the wider ME group not the club.
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carlisleaway added 10:38 - Dec 10 From my own companies experiences, we have had no problem with payment. Normal 60 days terms which you expect in business these days.
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BillBlue added 11:08 - Dec 10 Oh hell Phil - thanks for that!
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WeirdFishes added 11:21 - Dec 10 The eadt is based in Ipswich near the waterfront.
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Tractorog added 11:53 - Dec 10 The reason it is not a local business paying late for corporate hospitality is it would have to be a big debt. If it is to the group then it's worrying. We're in the run up to the World Cup, ME group will be buying hospitality in advance, packaging it and selling it on to be paid in the summer. Creswell will be sold if we get an offer ... Have no doubts about that and we won't see any cash unless Brazil is a success for ME group and from what we've seen so far about riots and unfinished stadiums that's one hell of a risk.

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bluelodgeblue added 11:54 - Dec 10 Fail to understand how the debt is stable when we are still making a loss?
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AbujaBlue added 11:59 - Dec 10 Alex: They have branch offices all over Suffolk, but no doubt the show is ultimately run by their Archant overlords in Norwich.
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bluefeast added 12:25 - Dec 10 Horrific PR for the club , very sadly do not doubt the power of agents , its very simple for them to upset players ,create doubt in their minds and so forth. If we are not paying bills when owed the knock on effect is only negative . You cannot say in one breath that the club is on sound financial footing and the next write letters begging for time to pay. The financial structure of our club is totally in the hands of one man , the club loses money every week and its very simple ,that at some point has to stop or assets will be sold in order to balance the books , not invest that money in additional playing staff. Success on the pitch is down to the players performance. We dont want agents in their ears saying there is a 3 year deal at such and such club so let your contract run down etc etc. Agents are a necessary evil. Better that they are recommending players to us as opposed to the opposite. Sort it out and fast Ipswich board of directors or we will suffer .This has highlighted the non footballing mentality of our board of directors.

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Michael11 added 12:59 - Dec 10 The Wickham cash is LONG gone. That went to the ludicrous fee's paid to the likes of Bullard, Bowyer, Chopra etc.
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carsey added 13:43 - Dec 10 alexharban - The EADT and Star went north years ago in the name of saving money for the Archant group of newspapers. They then had the audacity of running a campaign in the Star to save jobs in Ipswich. The fact remains they are Norwich based and Norwich influenced. They are NOT local to Ipswich any longer.
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Popeye added 14:34 - Dec 10 I see a local sports reporter is having to defend himself on twitter from fans who accuse him of lazy journalism etc. Report sensationalises an issue which affects many businesses. Anyone would think club is on verge of administration by the tone of the article. Sports reporters should report on sport not on business matters.
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Skip73 added 14:38 - Dec 10 My cousin works for the EADT and it is based in Norwich, he now has to commute there every morning.
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theobald1985 added 16:26 - Dec 10 archants headquaters are in norwich but the eadt is run out of ipswich that is where the editor teyy hunt etc is based. I really dont think there is any stock that norwich fans high up in archant are making up negative ITFC news and forcing it into the anglian. It really is a shambles the way the club is being run by evans.first we had clegg and now we have 2 idiots for the price of one. It is so very difficult to believe they have the best interests of the club at heart and I still dont like the way evans has sold the training ground to himself and wants to purchase portman road as well.I would love a fans buy out of ITFC. ive even got my fiver ready

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Seasider added 16:48 - Dec 10 Have wondered if there is a reason for lack of financial support for MM,and now we know. Bluehook I am not pleased that this has come to light for as Bluefeast said bad PR,and it will make it more difficult to acquire new players;but the EADT editor is a long standing town supporter and no doubt thought that it was in the public interest to publish;bit far fetched to think this is a ruse on behalf of Norwich City. As someone who had a career in retail banking I find this most disturbing ;as not being able to pay creditors on time and rescheduling is the first sign of a company in financial trouble. I recall Mr Sheepshanks telling shareholders at the time of takeover that this would obviate the need to sell players to survive.Well this hasn't happened;so I fear that the vultures will be circling in January!

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HARRY10 added 17:36 - Dec 10 If it is as stated, money owed from another part of the ME group then what could that money be in respect of ? Money owed on the transfer of the training ground perhaps - but that would simply be a matter of changing the amount the that is owed to ME rather than any cash being handed over ? It further suggests that unless there is transfer money ring fenced elsewhere there will be no money for buying players or bringing in any loanees in January (and after). Just when we look to be the position where a boost to the squad could be vital - as we may also begin to see injuries and suspensions beginning to tell on the squad. If only the ruddy Sheringhams had pulled out our name after Man Utd were drawn at home in the cup !

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blueboy1981 added 18:19 - Dec 10 theobald1985 - ..... quite worrying that people amazingly disagree with your post. Nothing surprises me about ITFC anymore - especially under current ownership. This news is disgraceful to be honest - from a once great, and proud Club. I , and many other STALWARTS I guess, just didn't want to hear this kind of thing about our Club - not a good PR exercise for sure.

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blueboy1981 added 18:38 - Dec 10 ...... on a lighter note (but equally depressing) I guess the Pies will soon be £7.50 each .....
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blueboy1981 added 18:39 - Dec 10 ...... if there's any at all.
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RegencyBlue added 20:58 - Dec 10 I really do not like the sound of this. I don't care who we owe money too the fact is our club is in debt to the tune of £80 million plus and the debt continues to grow at an alarming rate. We are completely at Evans mercy and once he decides the club is of no further use to him there is no telling what happens next. In the short term I would suggest this indicates Cresswell will be out of the PR door sooner rather than later.

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