Town announce operating loss

03 November 2009 02:31
The Tractor Boys' total debt is now in excess of £35million, according to a shareholder statement, which shows player and coaching staff cost to have risen from £8.3million to £11.8million. Turnover has slumped to £14.7million from £15.8million.

An outlay of £7.2million in the playing squad in this period included the purchases of Tamas Priskin, Grant Leadbitter and Carlos Edwards while boss Roy Keane is costing £3million over two seasons.

Ipswich were taken over by Marcus Evans in December 2007 after the hotel entrepreneur brought 87.5% of the club's shares.

The shareholder statement added the club is financially dependant on the support of Evans' company, the Marcus Evans Group, although it claims not to be in debt to any financial institution.

Source: Team_Talk

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