Town's annual report and accounts reveal that the club made a loss of ÂŁ2.7 million in the year to June 30th. The loss, which takes the club's overall debt to ÂŁ36 million, was at the level predicted by chairman David Sheepshanks at last year's AGM.
Sheepshanks says that despite the loss the club will not have to sell its top players: "We are in the position for the second year running to be able to consider further player acquisitions rather than sales in the January transfer window. There is no pressure or intention to sell any of our young players.”
During the year, the club's turnover fell from ÂŁ17.48 million to ÂŁ16.37 million, while ticket sales dropped by 6.7%. Commercial income was down 6.3% and money from TV was reduced by 11%.
Town are holding their AGM at Portman Road on December 6th.