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Player Sales See Town Make Profit
Wednesday, 2nd Dec 2015 21:39

Town made a profit of £5.335 million in the financial year to June 30th after player trading - a total of £12.150 million including the the sales of Aaron Cresswell and Tyrone Mings - but made an operating loss of £6.140 million. The club’s overall debt rose from £86.008 million to £87.194 million.

The figures were revealed to shareholders at this evening’s PLC AGM in a sheet outlining the financial highlights for the year 2014/15. The PLC is made up of the pre-takeover shareholders and owns 12.5 per cent of the club with Marcus Evans owning the rest.

Wage costs were up from £13.90 million in 2013/14 to £15.97 million. Gate receipts were up to £6.500 million from £4.981 million in the previous year with season ticket sales up and the club having benefited from taking a share of the aggregated play-off gate receipts, while commercial income also rose from £3.892 million to £4.847 million.

Overall, turnover increased from £13.550 million in 2013/14 to £16.414 million.

A full AGM report will appear on TWTD later this evening.


Photo: Action Images



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HarryS_H added 21:48 - Dec 2
Very good business from a great club!!
1

hochiblue added 22:15 - Dec 2
Wages 97% of turnover. We somehow need to increase our turnover to compete, even at the level we're at now. Thats the nature of our challenge!
0

HighgateBlue added 22:29 - Dec 2
Profit of £5m but debt rises. Hmm...
2

BlueNomad added 23:10 - Dec 2
There will still me those moaning about ME not buying Messi, having no ambition etc.
3

jabberjackson added 23:15 - Dec 2
That investment that ME has made is hanging precariously at the moment. It is really important that the team continues to improve by the end of the season, and also that crowds increase. If we stand still we go backwards as a business'.
Crowds will increase if we can stay in touch with the top 6. But they will increase much quicker if we entertain just a little bit more when we do it
That said, there are reasons for optimism on both counts. Bish and McG would help with the second part of the challenge
1

midastouch added 23:43 - Dec 2
£87.194 million debt! Maybe Marcus Evans should put in a call to the IMF!
1

midastouch added 23:49 - Dec 2
On a brighter note, Mick only needs to unearth 11 more Tyrone Mings and we'll be back in profit!
1

Stato added 08:16 - Dec 3
I read this week that Wolves are up for sale for £40 million so if you see them as being a similar size club at the moment then that puts into context our debt.
1

phillo added 08:53 - Dec 3
How so BisdyMan ? Not sure I understand ....if ME were to sell us now he wouldn't get anything as someone would need to take on the debt .... so are you saying we are in a positive or negative place ? Slightly confused .....
0

Europablue added 10:45 - Dec 3
We are financially very well run as a club, but terribly as a business. The wage costs are ridiculous, but that's why we get frees.
Maybe someone could explain how we made a tidy profit, but incurred a loss.
1

dirtyboy added 11:32 - Dec 3
phillo, the debt is with ME. If he sells the club, then whatever price he receives will essentially reduce what the club owes him. He's very unlikely to recoup his investment.
1

Stato added 13:47 - Dec 3
Yes dirtyboy is right that if ME sold the club he would be unlikely to recoup his investment. As an aside I think I remember that ME bought the existing debt for a figure far less than the nominal sum so I don't think he is actually £80 million out of pocket but someone will correct me soon enough if I have that wrong.
0

Karlosfandangal added 22:50 - Dec 3
I think you have to be realistic with what Ipswich can achieve with the new football deal next year.
People moan on here when the club don't win every week or draw at home yet the club wages are £16 million............Wayne Rooney is on £12 million a year if the papers are correct and Man City are prepared to pay Messi £40 million a year.

Ipswich can never compete with the premier league we can only hope to find players and hold on to them and with a little luck do what Leicester have done.
0


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