Town made a loss of £15.96 million in the year to June 2012, the club’s annual report and accounts have revealed, with the Blues’ overall debt rising to £79.62 million.
The club’s turnover during the year to June 2012 was £15.04 million, down on the previous year’s figure of £17.25 million.
Gate receipts were down from £6.64 million in the year to June 2011 to £5.36 million, while commercial income dropped from £5.11 million to £4.69 million and television and media revenue fell from £5.5 million to £4.99 million.
Despite the likes of Jimmy Bullard and Lee Bowyer being recruited during 2011/12, wages for all staff employed by the club footballing or otherwise remained much the same at £15.96 million compared with £15.67 million the previous year. The accounts show that former chief executive Simon Clegg was paid an annual wage of £193,000.
Town made a profit on player trading of £248,000, down somewhat on the previous year’s total of £10.84 million which included the fees for Connor Wickham and Jon Walters, which led to the club making a smaller loss in 2010/11 of £3.18 million.
In the year to June 2012 £3.49 million in interest was added to the balance sheet, compared with £3.35 million the previous year.
The club’s overall debt — which is owed almost wholly to companies owned by Marcus Evans - rose to £79.62 million from £72.83 million at the end of the previous financial year.
The accounts also show that the club's training ground was sold to Marcus Evans (Guernsey) for £1.32 million with Town now paying an annual rent of £40,000.