Joint-managing director Ian Milne believes most Championship clubs are adhering to the Championship’s Financial Fair Play (FFP) rules. Last week, a number of unnamed Championship sides and one from League One were reported to be threatening to launch a legal challenge against FFP.
Speaking on Saturday’s Life’s a Pitch on Radio Suffolk (1hr 10mins 20secs), Milne (pictured above on the left) said: "[Those who ignore FFP] will suffer the penalties, that’s the view of the majority.
"The latest view that we’ve got is that the majority of the Championship clubs are very much backing Financial Fair Play."
Clubs who overspend and transgress the rules will face transfer embargoes or, if they have been promoted to the Premier League, fines.
FFP was agreed back in April 2012 with 21 Championship clubs, including Town, voting in favour and three against.
Milne doesn’t believe the legal threats will come to anything: "We think this is a bit of bluster from one or two clubs, we don’t think it’s that many. They can’t get rid of Financial Fair Play, it was all democratically brought together.
"There may be ways the accounts can be looked at or smoothed in a way, but nothing’s been decided. Financial Fair Play is here to stay.”
Milne says the Blues are on track to reduce their annual loss, £9.8 million in the year to June 2013, in line with FFP: "We’re on target, we are where we need to be. People do say ‘Why can’t we buy this [player] and what have you’ but we are stuck with Financial Fair Play.
"Where we can manoeuvre around it but within the rules, we will do so. That’s a continued discussion and review we have with Marcus.”
Meanwhile, he revealed that the audit which will determine whether Town’s academy reaches the standard to be given category one status for next season will take place next month: "The audit is in April and we’re all on target, we’re putting everything together for that and it’s extremely exciting.”
Elsewhere, Milne says talks are yet to begin regarding a new contract for manager Mick McCarthy with his current terms up in the summer of 2015: "I think it's a little bit early to find out what Mick or Marcus wants to do."
Photo: ITFC