Town made a loss of £6.6 million in the year to the end of June 2016, the club has announced.

Ahead of tomorrow’s AGM of the PLC, which owns 12.5 per cent of Town, the Blues have made public the financial highlights of the club as a whole.

In the previous financial year Town made a profit before tax of £5.5 million due to the the sales of Aaron Cresswell and Tyrone Mings but made an operating loss of £6 million. In the year to June 2016 the operating loss was a similar figure, £6.6 million, with only £400,000 having come in via player trading compared to 2014/15's £11.4 million.

The club’s overall debt is down slightly from £87.19 million to £86.51 million with ‘other group loans (non-interest-bearing)' having been reduced by £1.4 million and 'convertible loan notes' down by £163,000, while cash in the bank was down from £896,000 to £91,000.

Town’s debt is owed almost wholly to owner Marcus Evans’s other companies with MD Ian Milne having previously outlined the position.

“This is no third party debt," he told TWTD in November 2014. “The money that an owner has put into a club, he’s never going to see that back, unless maybe it goes up [to the Premier League]. But even then I doubt he’ll see that return."

Town’s turnover in 2015/16 was down slightly to £16.28 million from £16.41 million in the year to June 2015.

The wage bill, by far the biggest outlay, was £16.57 million, up from £15.97 million during the 2014/15 season.

The financial highlights in full can be found on the club site here.

Photo: TWTD

Facefacts added 14:09 - Dec 20 Someone he'll listen to has GOT to tell MM to take the Cups seriously, starting 7th January 2017. We take 000s to away big cup ties, the last being the Emirates. Before that Watford, now ten years ago - a game we should have won, even with 10 men. Watford made the semi where they were beaten by Man Utd. Mick treats the FA Cup as if he's managing a big club that doesn't need the finance it can bring.

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Swn98 added 14:09 - Dec 20 How to make a small fortune owning a football club Start with a large one !
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Beattiesballbag added 14:28 - Dec 20 muhrensleftfoot He could sell the club without the Dept, as he could write it off just like the bank did when he brought it! Also wash your mouth out, comparing the Cobbolds to Sheeepshank the Cobbolds didn't take money out of the Club!
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muhrensleftfoot added 14:39 - Dec 20 Beattiesballbag - indeed he could write off the whole debt, but think he's still hoping for the miracle of the Premier League. The bank sold the old debt of around £40m to Evans for approx £8m. I may be a million or two out in my figures. I thought Sheepshanks was a Cobbold - his mother or grandmother?
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bluebare added 15:07 - Dec 20 doesn't Evans just use us as a tax writeoff?
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hampstead_blue added 15:24 - Dec 20 it explains an awful lot. Maybe when we bleat about the lack of money ME puts into the club we should be reminded that HE puts HIS money into our club. It's easy to spend other people's money. Thought of the day. It neatly puts into perspective the restrictions placed upon MM. I'm not a huge MM fan, slightly too stubborn, but he is working with one hand tied behind his back

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Frank_Dollop added 15:25 - Dec 20 Forget about the debt, it's irrelevant. The real question here is what is the maximum loss we can make under FFP? Let's assume it's £20m p.a. - then Evans' is either (a) deliberately choosing not to 'fully fund' or (b) cant afford to fund it - in either case I think there is an expectation that he should look to find an new investor or owner who can provide that support. If we are already making the max permitted loss under FFP, then yes, we are foooooked for the forseable future. Just saying.

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StowTractorBoy added 15:46 - Dec 20 Oh hold on Evans spends nothing on this Club - well according to a lot of the anti brigade on here. The man keeps the Club running on regular losses yet some on here expect us to spend millions on players and moan because we have not spent the Cresswell and Mings money. The fact is we have spent it to keep the Club running. Evans and Mick in as better the devil you know I say.

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dirtyboy added 15:56 - Dec 20 ME he has sunk £80m of his money into this club and has the square root of f***k all to show for it. There's a possibility he's not in a position to be spending more than £6m a year just to cover losses, or as you say, doesn't want to lose any more than the £80m he's spent so far or perhaps a combination of them both. Either way, he came, he tried and he failed. Can't fault a man for spunking £80m into a football club....I wouldn't. Even if he's worth £500m that's a 1/5 of his wealth gone, I wouldn't dream of that. I sincerely doubt there are many or indeed any people out there wealthy enough to take on ITFC as it stands.

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Carberry added 16:06 - Dec 20 “The money that an owner has put into a club, he's never going to see that back, unless maybe it goes up [to the Premier League]. But even then I doubt he'll see that return." So why is he doing it? Not for the love of our club. WHERE'S EVANS?
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blueblood66 added 16:11 - Dec 20 what a mess
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Pip50 added 16:23 - Dec 20 Ah that it then the bigger the debt and operating loss the more shpt football we play. How are these linked to management selection and tactics ?
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Scuzzer added 16:25 - Dec 20 Evans will probably pick the debt up on this. For how much longer he will continue to do this, like everyone else, I just don't know. We can all see where the money has gone now (running costs) so we shouldn't be surprised at the small amount of player purchases that have taken place. Any owner buys a club with the initial and ideal intention to make a profit in the near term future. That has just not happened for him so I can see the club being put up for sale very shortly. He made need the cash in any case if he has to hold the Brazilian police off. O little town of Ipswich How low we see thee lie And in thy deep and endless sleep The silent years go by And in thy empty stadium The ever fading light The hopes and tears of all the years Are met in thee tonight.

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brittaniaman added 16:35 - Dec 20 Could be more in Debt. next year with season ticket holders not renewing ?????
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BillBlue added 16:47 - Dec 20 Well the only way to sort this out is to run the club properly. In case you have all forgotten it is a football club so that is what we should be doing - playing football. We have a ground that holds just over 30k and, if we are honest, we are now getting about 10k in. If we start playing football there is no reason why the ground should not be packed as it used to be in my time and, I believe George Burley's time. Next, we need to take an interest in the two cups, remember all the excitement that used to exist? That will get the ground full. Carry on from there and we will be in the Premiership then that man can wipe his debt out and we can once more become a football club! All that is needed is a Manager who understands the game and wants to progress and make a name for himself, somebody who also recognises the value of football fans. Not much.

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karls_dad added 17:02 - Dec 20 Debt? is the club really worried about it? well sending the players and wives/girlfriends to Ireland just for a xmas party i very much doubt it! When i was working in my last job, i got a pint over the road in the pub and a tenner in a cheap xmas card, oh how the other half live eh?
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Swn98 added 17:02 - Dec 20 Bilge blue if only it were so easy I believe we went into administration with crowds Of 25+k crowds we've only been hovering below 20k the last 18 months yet each year Marcus has to stump up 5mill plus to keep the club afloat.
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BillBlue added 17:08 - Dec 20 Incidentally, 15k seats at an average price (guessed) of £20 each times 23 home games (without the cups) = £6.9m just what is needed. Iit is simple just get back to the stage where you cannot get a seat for love nor money. The overheads will increase so you then increase the size of the Stadium, remember the guy who painted the gates? Well he told us the plans were already drawn up to increase the Stadium. That is where our problems really started, none of them knew anything about football and all thought it would be dead easy.

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warktheline added 17:11 - Dec 20 Don't give me that crap, 'let's all be grateful to our saviour Evans '. He's a capitalist through and through, he knows what he's doing with money, that's why he's got more than us lot put together! How many football clubs run on profit? Currently our club is a bloody shambles, we have a uncultured manager,hell bent on stopping the opposition playing , a bunch of 'proper blokes' , some of whom, are happy to play out of position for their wages, just about sustaining Championship football under a one dimensional leader! The likes of Williams, who has more talent in his little finger than current 'regulars in the cozy club ' warming the subs bench! Talented players such as Sears looking totally lost attempting to 'fit in' to 'McCarthy's plan'! An unused 'youth system' because McCarthy only trusts 'proper blokes'! Etc etc etc.

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Seasider added 17:20 - Dec 20 Draft Accounts seem to say that gate receipts are exactly the same as previous year,which is a huge coincidence if true.Should receive copy at AGM tomorrow to confirm. In view of these pecuniary figures shareholders should enquire if this will mean little or no money spent in January window if players not sold. If best players sold, even then this money could be used to offset running costs instead of investing in players. Overall the prospect of this club ever regaining their Premiership status look very bleak indeed with attendances currently falling,which wouldn't show until next year. I am sure that in view of this,the club,and McCarthy in particular should look to progress in the FA Cup and not treat it with the contempt it has been shown in the last 4 years.

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BillBlue added 17:21 - Dec 20 Swn98 - Rubbish - as always. We got into debt by buying two stands then GB was given a lot of money and unfortunately brought in some Prima Donna's,which upset the team and we went from fifth in the Premiership to the bottom end of where we are now. How do you think other teams have got there and out of debt? By playing football. Leicester, Watford, Crystal Palace, etc. etc! SWN98, I wish people like you would either mature or stay away, you, in particular as you did under your previous two names.

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rabbit added 17:22 - Dec 20 Why people keep saying the same things week in week out I will never understand, it is quite normal to buy bad debt at a fraction of the actual value, but irrespective of this he has still invested £50+ mil in the business and is loosing an average of circa £5+ mil year on year. Then there is the ones that believe the business is being run as a tax loss, as I've asked before please explain this concept to me because I run a modestly successful business and pay substantial Corp Tax every year and would love to benefit but neither my FD or the Company Accountants can make it work for me. Please guys be realistic, I am in general with you the football is dire and no I don't use my season ticket for every match because the entertainment is so poor but it really has little to do with the ownership.

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TimmyH added 17:36 - Dec 20 Yes that Debt really started going up as BillBlue stated by the combination of building those 2 stands and some poor acquisitions in GB's second season in the Premiership, let's not forget since ME has taken over and bought the debt he equally has made some pretty poor decisions with managers and had a relatively 'free reign' on buying some particularly poor players between 2009-2012 which has added to that debt.

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alfromcol added 18:18 - Dec 20 10000 extra customers at 23 home games at £30 each not a great sum £6.9 m. Not likely to happen in MM's tenure
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alfromcol added 18:32 - Dec 20 Why do people keep saying he has spent £80 m on this club. This just isn't correct.
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