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

tractorboybig added 18:38 - Dec 20 I heard a rumor that mm was on 7 mill a year. Problem solved in one swoop.
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geminimustang added 18:47 - Dec 20 tractorboybig "I heard a rumor that MM was on 7 mill a year. Problem solved in one swoop". Benitez is rumoured to be on around £4M so he's obviously joined the wrong club when MM can command £7M? God,give me strength or a pint of what the boybig is drinking!!
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RoyKeanesDog added 19:31 - Dec 20 The most upsetting part of that story is the use of the word unless. "he will not get that money back unless we went up" I'd rather hear "he will not get that money back until we go up"
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carsey added 19:38 - Dec 20 I don't understand any of these numbers. All I can see is my club is now owned by a man we never see who won't talk to the (ever reducing) fans and has allowed McCarthy to drain any decent football out of the club. I used to get a buzz on match day and would never miss a game. Now the slightest excuse will do and I can't give my season ticket away. I have three boys and none of them are remotely interested anymore in going to a game and for this I blame McCarthy. Money or no money his boring outdated hoofball is the problem at ITFC and nobody will convince me otherwise.

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dugoutdave added 19:46 - Dec 20 Suddenly the site is full of money advisors with a profound and in depth knowlege of the finances and tax situation of a large organisation!, Anyway Happy Christmas to all who continue to support the club despite the current and less than acceptable times. Have a good one and fingers crossed for the new year.
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Surco72 added 19:48 - Dec 20 Totally agree Carsey whether you think MM is doing a bad job or not the simple fact is gates are dropping due to the football . Jewell had us bottom but still had fans turning up . Family of 5 waiting till MM goes before returning rather than results to get better
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heathen66 added 19:56 - Dec 20 I am unsure that RK and PJ were given a free reign to buy who they liked. All transfers were 'negotiated' by a certain Mr Clegg. The issue that I have is the amount of players that were allowed to leave for nothing such as Delaney, McAuley, Leadbitter all whom are now playing in the Premier League. There are many others we let go only for them to sign for other clubs the same week. Surely as they are under contract a transfer fee could have been negotiated. Then there are players who like Jay Tabb last season who got paid a years salary for playing zero minutes League football after allowing the player to exercise an extension to his contract because he is a 'good pro' and a 'great bloke' !!!, Also Giles Coke who will never set the world alight but we are paying him to get fit...then leave.

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Swn98 added 20:03 - Dec 20 Typical news contributor BILGEBLUE you don't like somebodies opinion so you tell them to go away that's why I continue to contribute so calm down there's a good chap I'm not going anywhere.
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Swn98 added 20:06 - Dec 20 Don't listen to rumours there usually wide of the mark
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Keaneish added 20:07 - Dec 20 Can someone help me out here because I don't understand. Our wage bill is up, our turnover down but although we made an operating loss our debt has decreased as has our debt to 'other group loans - non interest bearing', presumably to ME's other companies... What other equation am I missing here and how are we losing in the region of 6 million a year if the wages are close to the turnover and we pay no interest on our deficits? Sure there's operating costs but 6 million worth!? That's 37% of our turnover!

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braveblue added 20:10 - Dec 20 Depreciation and interest to other group companies make up £1.7m. So down below £5m. Murphy sake £4m and about £1.5m expected from youngsters at tribunal. Break even. Study the figures for this year.
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Keaneish added 20:25 - Dec 20 Where are these figures published?
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Keaneish added 20:46 - Dec 20 http://www.ipswichstar.co.uk/news/ipswich_town_fc_reports_annual_pre_tax_loss_of
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blueboy1981 added 22:18 - Dec 20 Anyone still confident our Club is in good hands, with an eye to the future ..... ???
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BrettenhamBlue added 23:06 - Dec 20 It does make things a lot clearer. Every business needs to break-even and we are failing to even do that.if a big 6.6million offer comes in for Webster we should accept and expect no replacement in return. Until the finances are sorted out, we should expect players to leave for fees and bring in youngsters or frees to replace them. There is no way we should be paying out fees in the Jan transfer window and should be looking to sell. Youngsters are the future of this club so maximum effort should be made to retain them as they are the players that will replace the old-guard. We should be doing all we can to keep players like Harry Clarke (who we lost to Arsenal), Sam Ford (West Ham), Ben Knight (is he still with us or has he signed for City). We should PLAY these youngsters as soon as we can, as this will give them incentive to stay. It's obvious what our aim should be next season. Play youngsters, sell the likes of McGoldrick, Webster, Bart (players who can help us break even) and avoid relegation. Tough times ahead as a fan and things look very grim. http://www.telegraph.co.uk/football/2016/11/29/manchester-city-hoping-sign-ipswi

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Currie10 added 00:27 - Dec 21 From memory that's a HELL of a lot better than in years gone by of £9 / £10 mill operating loss so well done club to an extent. At least it's not quite so ridiculous. As I pointed out on here before and someone replied saying Luke Hyam is on less than £5k p/w basic, we clear as day have many a player on £15k basic with various bonuses etc or the wage bill doesn't make any form of sense. I'd imagine McGoldrick is the top earner on £18k ish, however players like Giles Coke are probably on a little more than people expect. Need to get the revenue up, and sadly people unless we're going up, we really do need to sell the odd player here and there for big ££££.

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runningout added 00:27 - Dec 21 the way to rub off debt is obviously get promoted. Our players have the ability but don't know it. We have had strong squads playing very below average football since Magilton was manager. When Lincoln beat us the writing I'm afraid will be on the wall, but nothing will change
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MonterreyBlue added 01:03 - Dec 21 Club will be used to right of taxes from other businesses within the ME Group. Beggars belief tho really, about 6 months ago, i sent an email to the Club offering to help or sponsor the academy in some way and they didnt even reply. Sometimes you just want to give up. COYBs
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bobble added 02:25 - Dec 21 I have more cash on the bank than the club, crazy way to run a big football team.
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GiveusaWave added 04:58 - Dec 21 Obviously we are not privy to what players earn but we would have had a fair amount freed up in wages the last few months. Murphy's wage would have been significant and Stewart was one of the highest earners at the club. Back up players will still be earning a very significant wage (Coke etc). It looks likely that we will lose Williams (also significant). It's understandable now that Mick doesn't want to replace. We need to sell in Jan not buy.

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GiveusaWave added 05:12 - Dec 21 Tractorboybig Mick is not on 7M a year. Where did that figure come from??
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Blue_Meanie added 08:04 - Dec 21 That's Webster and Bart gone in January then!
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Currie10 added 08:15 - Dec 21 It is bobble but, despite us losing £6.6 mill this year people want us to spend £4 mill plus every transfer window. What people seem to forget is it's not just transfer fee, it's wages, signing on fee, agent fees, bonuses and various other factors that cost ££££. Even if we sold out Portman Road every week we'd only just about breakeven. Players must still be dictating wages to clubs far more than I like if our wage bill is £16 mill. Jesus christ. The operating losses of clubs at this level is absurd - allowed £14 mill per year. The sooner this figure can come down to £3 - £5 mill or something more realistic, the sooner the wages these " players " can SADLY command will burst. Football at this level and below is not sustainable and there will be plenty more Blackpool and Pompeys on the way. Sad sad times.

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geminimustang added 08:31 - Dec 21 The £6.6M loss doesn't include the £3M fee from Newcastle for Murphy which happened after the year end results.So,in reality,the loss is £3.6M.Sell Webster and you're probably closer to £1.6M.Have a good run to the season end,get some sponsors on board,season ticket sales up,more merchandise sold,suddenly you're at break even.The figures aren't great but not as bad the doom mongers would have you believe.ITFC are ok,just need Best to find his shooting boots,Dozzell to Dazzle and McGoldrick to hit a rich vein.

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ThatMuhrenCross added 09:17 - Dec 21 So how do we solve this? First of all, half ticket prices. Halfed ticket prices = attendance doubled Doubled attendance = more money is spent on food, programmes, merchandise etc... Also = atmosphere improved and players inevitably perform better. Better performance = better chance of promotion. Promotion = Premier League money.
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