Town's accounts for the year to June 2022 show total loss of £12.6 million in the year to June 30th 2022, the first season following the Gamechanger 20 Ltd.

The loss, which had been wholly expected as the new owners invested in the club both on and off the field, was up on £6.4 million in the previous year, which covered the Covid-hit 2021/22 campaign.

The club made an operating loss of £14.4 million compared with £7.7 in the previous year.

Turnover was up from £8.1 million in 2020/21 to £14.4 million, other operating income was £0.1 million compared with £4.1 million a year previously and operating expenses £28.9 million, up from £19.8 million in the previous year.

A third of that £9.1 million increase relates to wages and the rest is operating expenses, the cost of the ongoing rejuvenation of the club.

The accounts show a relatively low net transfer spend during the year. Proceeds from disposal of intangibles, transfer sales, Flynn Downes to Swansea, Andre Dozzell to QPR, Scott Fraser to Charlton and compensation from Norwich for Liam Gibbs, was £2.6 million against purchases of £3.4 million for the players brought in, Cameron Burgess, Conor Chaplin, George Edmundson, Vaclav Hladky, Rekeem Harper and Christian Walton.

Those figures refer to the cash received or paid out rather than the whole fees with transfer payments made in tranches over a number of years.

The overall wage bill was up from £13.9 million in the year to 2021 to £16.4 million

Season ticket sales were 12,870 with no real comparison to the previous season due to the Covid situation. During 2022/23, season ticket sales are just under 18,000 with other revenue similarly set to increase on the year to June 2022.

During the year the club issued £14.25 million in additional shares. In League One, injections of cash have to be made through equity, so the club issues more shares whenever additional cash needs to come in from the owners.

Town have also simplified the group structure which was set-up at the time of the building of the stands in the early 2000s when a Stadium company, a Finance company and a Property company were instituted to manage the paying the bond which was securitised on the developments.

"Effectively, all the trade and assets of those three companies have been moved into Ipswich Town Football Club with those companies dormant going forward.

As a result of the new shares, the PLC, the shareholding in the club prior to Marcus Evans’s takeover, now owns less than five per cent of Town, its stake having been 12.5 per cent.

The accounts show that since June 2022, £17.9 million has gone into the club sand there have been £5.97 million worth of acquisitions, although that figure includes contingencies such as appearances milestones.

The club has no external debt aside from £397,000 in loan notes taken out following the Blues’ spell in administration 20 years ago.

Internal debt is limited to legacy preference shares from the Marcus Evans era which have been taken on by Gamechanger.

Photo: Blair Ferguson

hyperbrit added 02:14 - Apr 4 who was it that said"how does it feel to have the owner selling your best players?" The manager of Blackpool I seem to recall. I'm still curious as to what the team would look like of players sold or let go out of contract during the Evan's days? Premiership mid table?
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shakytown added 02:49 - Apr 4 This is a good result considering the massive changes in the club on and off the field. Newtonboy just block the budgie out from your list and it will go away. Keep answering it and it will hang around like a fart in a bottle.
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ElephantintheRoom added 07:40 - Apr 4 Hmmm - I suppose the £10 million tossed away with Flynn Downes might have covered most of this eye-watering loss. Makes you wonder what losses are being racked up this year as the club desperately tries to buy promotion in a somewhat reckless attempt to reach more profitable waters of division two which are going to be far more expensive that division three. Nothing that a £450 increase on 28,000 season tickets won't put right.

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Nomore4 added 08:08 - Apr 4 What Gamechanger have done thus far is nothing short of amazing. The plans for the future also. But all future plans are dependent on many things. Obviously to anyone losses of even half this figure can't go in indefinitely, but will until the sunny uplands have been reached.
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NITFC added 09:07 - Apr 4 These results cover the year ended 30th June 2022. They are 9 months out of date (the Companies House deadline for filing). The big crowds, additional income will be reported in the 2022/23 accounts - as will the spending on players of course. Those 2023 accounts will be a more accurate reflection of where we are now.
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Bazza8564 added 09:27 - Apr 4 Losses in L1 are inconsequential when you have investors willing to propel you out of this division. Our turnover last year was around £14m, that includes a solidarity payment from the PL of £0.7m and a pittance from Sky. In the Championship those revenue streams go to almost £8m, raising that by 60% before ticket price increases etc In the PL Sky is £77m alone.... So it little wonder the US investors are happy to cover £15m each summer, it sorts itself out easily after promotion. As soon as the club gets promoted its resale value goes through the roof and covers those losses. 2 seasons and an established position in the PL v they have a club worth £250m+ At that point they can cash out and double their money net, lets not forget Evans wrote off his debt, they probably paid no more than £30 tops initially

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bluesheds added 10:28 - Apr 4 Other operating income 0.1m down from 4.1 million year before. What does that mean.
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Nomore4 added 10:39 - Apr 4 With promotion to the Championship, brings eye watering wage demands. Many clubs in the Championship have huge debts, and 30k per week player wage being the average for the better player it's no wonder why. This day and age a football club only records profit from Premier league football.
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BobbyBell added 10:54 - Apr 4 We have long term investment in our club and things are on the up. The run down stadium is now one to be proud of and so is the squad. No one expected anything but a big loss in this league but investments are made with a view to increasing the value of assets. So the training ground is awesome, the stadium looks great and the whole town of Ipswich is buzzing. Merchandise sales are massively bigger and the fan base is increasing. We have fans all over Europe due to our history and now with American owners who knows how big a following we could have over there with success on the field. Americans know how to promote a product. This is a huge club which was slumbering but is getting back on it's feet and can be huge again and that brings returns on the investments. I believe we are incredible lucky to have these owners and we must trust in their pathway to success.

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Saxonblue74 added 11:05 - Apr 4 Needs to be put into context against the vast investment and funds at the clubs disposal. The Championship will be more expensive and losses likely to be greater. Investment will be for the long term goal of Premiership football which may bring a profit, but nothing is guaranteed in football.
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Bert added 11:56 - Apr 4 @Blueboy. There is bad deft and good debt as well as bad losses and good losses. If the debt and annual losses buy investment and that investment produces good outcomes then together they are productive and sustainable as long as the upward trajectory is maintained. I know it looks bad but it really isn't in the context of football.
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Chrisd added 12:13 - Apr 4 It makes me wonder why anyone would want to own a club? Apart from the big 5 or 6, the rest run at a loss. There's got to be something in it for them though?
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Nomore4 added 13:30 - Apr 4 Arnie m. You do the maths.
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Nomore4 added 13:48 - Apr 4 Exactly that Saxon…….The owners have said long term project. Premiership football the end goal. This causes confusion amongst supporters, who believe it takes as long as it takes then. In reality we have 2 seasons after this one to reach that goal. That would make four and half seasons of Gamechanger ownership. And would be a season more than ideal. And eye watering money pumped in over that period. With no profits seen. As you say Saxon nothing in football is a certain.

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