Town boss Mick McCarthy believes the Blues should be lauded for their more thrifty approach which has seen their annual loss drop over the last few seasons and record a profit after player trading in this year's accounts.

Having made a loss of £15.96 million in the year to June 2012, £9.78 million the following season and £7.16 million in the year to June 2014, the Blues made a profit of £5.33 million in the accounts made public last week including the sales of Aaron Cresswell and Tyrone Mings, although an operating loss of £6.14 million, while the club's debt rose from £86.01 million to £87.19 million.

After the high spending days under Roy Keane and early on under Paul Jewell, with the Championship having moved to its Financial Fair Play model, the Blues have looked to cut costs and operate more efficiently in recent seasons.

Transfer fees have only rarely been paid, and even then in the low hundred thousands rather than millions, with the club seeking to make the most of the Bosman and loan markets, as well as taking advantage of players such as Freddie Sears (a fee we now understand to have been £200,000), Jonas Knudsen (£325,000) and Piotr Malarczyk (£8,500) inserting relatively low release clauses in their contracts at their previous clubs.

In 2013/14 - not all clubs’ accounts for 2014/15 are available - the Blues had the 15th highest wage bill in the Championship at £13.9 million, while it increased to £15.97 million last season and is set to rise again during this campaign as a result of the large fee - £8 million plus add-ons - achieved for Mings when he joined Bournemouth.

However, Town’s wage bill will still be significantly lower than plenty of other Championship clubs, certainly those with parachute payments following relegations from the Premier League.

Figures last month showed that the Blues' spend on agents was amongst the lowest in the division and was down to £261,346.50 during the period October 2014 to September 2015 having been £360,618.58 a year earlier.

“It helps if you don’t spend anything [in transfer fees]!” McCarthy said when reflecting on last year’s accounts. “I’m sure that’s helped the finances.

“It’s been prudent management from top to bottom, that’s not just down to me. We’ve got a group of lads looking at players, picking them up and we continue to do it.

“I was at the AGM the other night and it always strikes me that even when it’s going well it’s like, ‘What can we do to get better [players]? Who can we get? Can we do something better?’.

“Well, actually, I don’t think we can do any better than the ones we’ve got unless we [spend] a whole chunk of money and blow the wage bill.

“I think the club should be lauded for how it’s working at the minute. If they’ve made more money or not lost as much and the finances are better, the team’s in [ninth], we’re playing well and we’ve still not spent a load of money, we’re still not paying a big wage bill and we’ve still not sent a shedload of money to agents.

“That’s interesting. There are clubs in embargoes who have paid £1.5 million to agents. We haven’t spent that on players, how does that work out? Incredible.”

McCarthy believes fans should be positive about Town’s current position: “I was at the AGM and I was trying to say that people should be enthusiastic and good about the club.

“I actually think part of my job definitely is trying to get fans to be proud of their club, whether it’s retaining that pride or getting that pride back in it.

“I think at the minute that’s where people are, the way we’re playing, the way the lads conduct themselves, there’s a broader thing. I know I’ve got to win games, don’t get me wrong because if we’re bottom of the league no one’s proud of their club. But we’re OK at the minute.”

Photo: Action Images

tractorshark added 13:11 - Dec 9 Spot on Ravanelly. It's frightening seeing how many former top-flight clubs are now struggling. People get worked up about us being the longest-serving club in the Championship but I'd argue there's two sides to that. Yes, we want promotion but since the money ran out on Royle, realistically we've only come close to achieving that on one occasion - and that was last season. What our stay in the Championship does show is we've had the sort of stability that the likes of Sheff Utd, Coventry, Pompey etc would have given their right arm for.

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Europablue added 13:16 - Dec 9 Off the pitch I can't fault Mick.
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Seasider added 14:29 - Dec 9 Personally think it would have been better to spend money on 1 or 2 marquee signings in the summer,as after all last seasons small squad reached the playoffs. Can anyone really say that Coke, Toure,Alabi,Malarczyk,Oar;or Douglas for that matter have made that much difference to the performances of the first team.No because they have hardly played but are still taking money out of the club,which could have been used to buy somebody like Jonny Williams who would get in the first team(if fit). Ipswich were second this time last season

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Orraman added 15:44 - Dec 9 There is not that much wrong with the current squad (when all fit) that could not be improved if MM would get off his stubborn streak and sort out the back five. A decent GK is a must and a back four of Emmanuel, Chambers, Berra and Parr might be a good place to start. Emmanuel has shown that he is capable of looking after himself and with encouragement from Chambers could develop as quickly as Mings, but he must be given a chance. Happy with strike force and there will soon hopefully be plenty more options for midfield selection. What Middlesbrough, Derby etc splash out on big money buys is obviously out of question for us, but there is no doubt that the fantastic team spirit MM has engendered can go a long way to compensating. Long way to go this season but he really must sort out defence.

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johnbetts added 16:31 - Dec 9 yes I support the club and MM - why be critical? we all want the premiership and so far I cannot see why we should not make it through the play offs. when we get our injured players back we can move up into the play offs. patience is needed!
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sidtheswan added 16:38 - Dec 9 If our squad is as good as MM believes a small investment on 3-4 players and we'll be in premier league reaping the rewards .
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MattinLondon added 16:53 - Dec 9 Think this season we have made the mistake that more means better. Toure, Coke and Tabb bring little to the table. Orr has had limited game time as well. If money is tight then surly it will be best to have one quality midfield players than three very avearge players. We have heard a lot about McDonnell, Kenyru and Dozzell - seems better to blood them and make the academy work rather than using thirtysomething or late twentysomething players as back-up.

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blueboy1981 added 18:07 - Dec 9 Dissboyitfc ......... absolutely agree with your post - the concern has to be that already we see evidence on here that far too many are 'happy chappies' with where we are at - and likely to stay ... !! This Club will (if it already hasn't) level out mid table Championship (we've been there long enough) and no one is likely to take that record away from us (is that good ??) ........ this is nowhere near the ambition that was synonymous with the IPSWICH TOWN of old. All we have is memories (some of us anyway) of the 'great successful times' of 78 and 81 to name but a few - and Sir Alf / Sir Bobby - under great Club ownership. Never to be repeated may I suggest under the current regime, and current element of support. Most people IN Football still see us, and talk about us as a potentially much bigger Club that should be doing better - trickling along as we are will not do much to enhance that image. Unfortunately, this looks as though this is as good as it will get - certainly under, as mentioned previously, the current regime.

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jas0999 added 19:29 - Dec 9 Appreciate the local media are obliged to praise ITFC and Evans, but other clubs don't care a jot about FFP. Evans hides behind it and media outlets like this site continue to support the spin. There remains no mention of wages saved on the likes of Taylor nor the fact Evans bought the debt for a faction of its worth. Phil, love your site, but Milne said money is available for fees, so why not spent? Why don't you ask? Do you seriously still believe wages spent on Coke or Toure? I doubt either cost as much as Taylor combined. Interesting that days after announcing he was jealous of others spending that MM makes a U Turn. Club enforced I suspect. We won't press on under current Evans strategy and he relies on those not caring or believing the spin. Shocking.

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Pip50 added 20:15 - Dec 9 All very well and very sensible until you look at Derby and Boro similar income and likely to be in the Premier next year with us looking up from below! Long live fair play rules LOL.
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TimmyH added 20:23 - Dec 9 I can't help reading this I get the feeling there's a bit of self praising...unfortunately a majority of the clubs (if you look at the division) are either on parachute payments or are breaking the FFP rules (which won't get fined) and these are basically at the top of the division. OK there is a slight argument of those who are beneath them (us included) we are doing alright but alright won't get you promoted. But now days in this 'whoever spends the most' generally succeeds mentality if the others don't follow suit to a degree do generally get left behind.

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TimmyH added 20:31 - Dec 9 By the way...are Brentford patting themsleves on the back after last years efforts? probably less spent than us, just promoted with less expectations and just missed out on the play-offs and then there's us a bigger club with a manager that has a track record of getting clubs promoted from this division and we scrape into the play-offs thanks to other teams results going our way on the final day...is that success? less of the lauding until we DO achieve something Mick!

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wayway added 21:02 - Dec 9 Without proper investment which we will not get as long as The Evans Corporation owns the club we will always be mid to lower championship. If McCarthy thinks we are any better he is deluding himself. Still I suppose he is working out his time until he retires. He knows he will not get another top job so he may as well stay here with no pressure to achieve anything and to kid himself we have the best back five the club has ever had

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warktheline added 22:25 - Dec 9 If the owner was going to invest in players then it should of been summer just gone. McCarthy's ragtag two bit squad of players done us and the club proud making play offs. It didn't happen, but what I now find worrying is McCarthy doesn't appear the least bit bothered! What's the plan people? Championship mediocrity!
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Bert added 04:38 - Dec 10 Winning is everything in football. There are no prizes for second and yes every Town supporter wants to feel the excitement of years gone by but the reality is that tv money has created an uneven playing field fueling wage demands which few clubs can pay. So, against that backdrop I remain proud of the way the club is managed and conducts itself but like everyone else I too want progress which will come when individual errors are eradicated. That in my opinion is the difference between a play off place and mediocrity. I acknowledge that MM can come across as complacent but a Manager's role is not just about managing players it is also about managing expectations and being honest with the club's supporters which he is.

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Dissboyitfc added 07:44 - Dec 10 Bert... MM needs to be honest with himself first and then us... He tells us chambers has been top drawer, yes he has with some of his attributes but as a right back???? Look everyone on here ( well i would hope, anyway ) if given the task of building a team from scratch would source the correct players for the correct positions. No one would go out and get 3 central defenders to play the 2 left footed players in the the centre and the right footed CB at right back, this combo could be forgiven in a team decimated by injuries. What message does this send out to the other players when they hear MM say, "Thats my best back 5". So why sign the likes of malarcyk ( spelling?) You should aquire players better or equal, not lesser players to warm benches, that is wasting money. If you cant get players in to improve the squad, dont get anyone! Individual errors are happening because people arent playing in their natural comfortable positions...

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essex57 added 11:51 - Dec 10 Was realy enjoying reading the posts on the subject then up pop blueboy and warktheline living in the past as usual thank goodness the majority of the posts are greatfull for what weve got remember the grass is always greener on the otherside of the fence theres lots of other clubs who have experienced glory dats like us who would like to be in our position.
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blueboy1981 added 14:49 - Dec 13 essex57 ............... AMBITION ......... shame you've never met the word. Too many like you (and your little buddies) - and we would be quite content playing in the Thurlow Nunn League. What we should be 'thankful' for is that many of us know, and have - AMBITION - for ourselves, and our Club. Research the Word - you may like it.
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