The PLC which owns 12.5% of the club is holding its Annual General Meeting tonight in the Sir Bobby Robson Suite in the South Stand. More than 3,000 supporters are shareholders in the PLC, which is chaired by former club chairman David Sheepshanks.
At tonight's meeting shareholders will vote on re-electing PLC board members John Kerr and Martin Pitcher and electing new chief executive Simon Clegg to the PLC board. At last year's PLC AGM, the first since Marcus Evans's takeover, questions on the overall club's position were taken from the floor.
Along with the annual report and accounts for the PLC, shareholders were also sent an information sheet outlining the club's current financial situation which revealed that the Blues recorded a loss of more than £10 million in the financial year to June.
Chief executive Simon Clegg told TWTD that the loss was the result of Marcus Evans's ongoing investment in the squad: "We have invested in the playing stock. Those results are for the last financial year and it’s recognised that Jim was given the opportunity to bring in a lot of new players and the player wage bill increased substantially.
"But we are running this club on a tight financial model and are lucky to have the support of Marcus Evans to ensure that despite that tight financial model, we can continue to invest in the playing stock to deliver the results we’re after.
"The club continues to be beholden to the financial support Marcus Evans is giving and Marcus has made it very clear that he’s committed for the long-term.”