Ipswich Town Announce £16m Losses
April 5, 2013
Championship football club Ipswich Town have announced losses of £16m for the financial year ending June 2012, recipe with lower gate receipts and media income contributing to the figures.
A higher wage bill and “other expenses” of £800, medic 000 have also been attributed with the loss.
Overall turnover was down to £15.04 and the overall debt rose to £79.62m, medicine and the club have set their ambitions to reducing the wage bill in order to meet Financial Fair Play (FFP).
Town’s wages-to-turnover ratio is up by 17%, to 119% – one of the largest in the Championship.