As expected Town's annual turnover will increase by more than double this year. Town chairman David Sheepshanks announced that this year's turnover would be around the £22 million mark when revealing Town's annual accounts for last year. Last year Town's annual turnover was £9.957 million which was a rise from the previous year's total of £7.949 million the previous year.
Town chairman David Sheepshanks told TWTD in the summer that the club expected to see the turnover more than double now that promotion to the Premiership had been gained: "It would have been about ten [million, had promotion been gained in previos seasons], but it actually goes up a little bit more because of the 7.5% one year early bonus from the new TV deal. So the turnover will go up by just over ten. It was £10 million very roughly last year and it will be over £20 million this. So it's a phenomenal growth."
Television cash is the biggest source of income rising from £1.205 in the Nationwide League to £12 million in the Premiership. Last year commercial income rose from £2.98 million to £4.125 million, while gate receipts went up from £3.359 million to £4.626 million.
Over all the club showed a profit of £2.342 million, a figure which includes the £6.3 million (and rising) fee for Kieron Dyer and an extra payment for Craig Forrest from West Ham of £50,000 when the keeper made his 30th appearance for the Hammers.
Wages also went up, from £5.9 million to £8.29 million an area which will obviously continue to increase now promotion has been gained.
It is also being speculated from the results released yesterday that the Town players received an £800,000 bonus on promotion. This has been added to the balance sheet despite promotion being acheived just two days before the end of the club's accounting year.
Town also revealed that they are in discussion with Ipswich Borough Council over the future of the land on which the ground is built. This belongs to the council, but is on a 99-year lease to the club. Possession of the ground would allow the club to present greater security to banks.
The chairman also confirmed that Town are still looking to spend more cash this season on players.
All in all the new accounts and the predictions for the year ahead show Town in an excellent financial position and as a club undergoing an enormous change in size. Given the situation inherited by David Sheepshanks I don't think he can be denied the broad grin spread across his face at yesterday's press conference.
Town manager George Burley has expressed his surprise at Club Brugge's claim of an illegal approach for Gert Verheyen: "We have done nothing wrong. My chairman David Sheepshanks has had three or four amicable discussions with their Chief Executive."
Tony Mowbray will gain his full UEFA coaching badge later this month when he travels to Lilleshall. Town manager George Burley has said that Town's current strength at centre-half means the player-coach has time to concentrate on his coaching duties: "It seems unlikely we will be calling on Tony, but you never know. It is a good situation because it means the other players are doing well. Tony can concentrate on his coaching."
Chelmsford based company Turnstone Estates, in association with Ipswich Borough Council, are poised to build a leisure club, multi-storey car park, 150-bed hotel and restaurant on the Cattle Market car park in Portman Road. They will submit their plans to Ipswich Borough Council's development control committee later in the week. How this will affect match day parking is not being specified and fans will hope that the planned car park is not purely for use by the planned hotel as otherwise parking for home games could become a bit of a nightmare.
A few years back Town had plans to build a hotel in the area themselves, on the land behind Churchman's. At the time the club failed to gain partners in the project and the land ended up having the Staples store built on it.