Town's AGM takes place at Suffolk College this evening. The club's annual report and accounts released last month revealed that the club made a loss of £3.17 million and took their overall debt to £35.75 million during the year to June 2005.
The AGM is shareholders' chance to put their questions to the board and, with the club in the bottom half of the Championship, the directors are likely to face stiffer than usual grilling from the 3,300 or so supporters entitled to attend.
Ipswich Town Ist, the Supporters' Trust, plans to ask a number of questions including:
Has the club met in full the interest payment which was due to Norwich Union on September 1st? Secondly, has the club made any attempt to renegotiate the bond?
The accounts show a loss in excess of £3m even taking into account the revenue generated from the sale of Darren Bent. The chairman has been quoted as saying that the club is also projecting a further loss at the end of this season and expects to break even the following season. What is the forecasted loss for this season? And is it realistic to expect to break even the following season with the likelihood of season ticket sales dropping well below 18,000?
We welcome the decision revealed in the chairman's report to introduce an evaluation and appraisal process for each of the directors. In the interest of transparency, will the board make these available to shareholders? Additionally, could the chairman outline the recommendations implemented as a result of this year's exercise?
What safeguards has the board put in place towards avoiding revisiting administration should the worst come to the worst and the club is relegated?
Shareholders will also vote on the appointment to the board of financial director Anna Hughes and sales and marketing director Andrew Goulborn, as well as the re-elections of existing board members Derek Bowden, Kevin Beeston and Holly Bellingham.
Ipswich Town Ist will be selling the fundraising FA Youth Cup Winners badges before the meeting. The badges cost £5 with all money raised going to the Academy Development Centres. The badges will also be on sale from the TWTD stall prior to Saturday's match and are available online here.