Town's annual report and accounts reveal that the club made a loss of £2.7 million in the year to June 30th. The loss, which takes the club's overall debt to £36 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.â€
During the year, the club's turnover fell from £17.48 million to £16.37 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.