Town made a loss before tax of £4.3 million in the year to the end of June 2017, the club has announced.

Ahead of this evening’s PLC AGM in the Sir Bobby Robson Suite shareholders were given a sheet outlining the financial highlights of the overall club for the year to June 2017.

The PLC owns 12.5 per cent of Ipswich Town Football Club Co Limited and consists of the club's shareholding prior to the takeover 10 years ago with Marcus Evans owning the other 87.5 per cent.

The club made an operating loss of £7.8 million in the financial year 2016/17, while receiving £4.1 million from player sales.

Most of that came from the £3 million paid by Newcastle for Daryl Murphy, while around £650,000 came from Chelsea for academy striker Charlie Brown and the Blues would also have received top-ups from previous deals such as Aaron Cresswell’s move to West Ham in 2014 with Town due further cash as the left-back hit appearance milestones.

In the previous financial year Town made a gross loss of £3.4 million and an operating loss of £6.6 million, having received only £603,000 from player trading.

The club’s overall debt has grown from £86.51 million to £89.26 million, owed almost entirely to owner Evans’s other companies with MD Ian Milne having previously outlined the position.

“This is no third party debt," he told TWTD in November 2014. “The money that an owner has put into a club, he’s never going to see that back, unless maybe it goes up [to the Premier League]. But even then I doubt he’ll see that return.”

Town’s turnover in 2016/17 was up slightly from £16.28 million in the year to June 2016 to £17.24 million.

The wage bill, by far the club’s biggest outlay, was £17.78 million, up from £16.57 million during the 2015/16 season.

Gate receipts were down from £6.5 million in 2015/16 to £5.13 million last season, while commercial income also dropped slightly, from £4.43 million to £4.35 million.

The average attendance was down from 18,959 in 2015/16 to 16,980 last season, while season ticket sales were also lower at 12,022 in 2016/17 from 14,017 the previous year with a further drop to around 10,500 ahead of the current campaign.

“Gate receipts were down on last season due to lower attendances,” the highlights document explains. “Also in 2015/16 the club received a significant share of gate from Manchester United in the League Cup which boosted last year’s overall gate receipts.

“Commercial revenue was slightly lower than 2015/16 due to reduced match day catering and merchandise sales although this was partly offset from the successful Elton John concert in June.

“Football League income was higher than last year due to an increase in both the basic award distribution and solidarity payments via the Premier League.”

Regarding costs, it adds: “Direct costs increased from £19.7 million in 2015/16 to £21.4 million due mainly to player wages, medical costs and associated agent fees as further funds were invested in the first-team squad and our academy.

“Administrative expenses decreased from £2.4 million to £2.3 million in the season 2016/17 as a result of general cost savings.”

The financial highlights can be found in full on the club site here.

Photo: Action Images

Rensham added 19:49 - Dec 11 Austerity ITFC. No much of a plan.
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howdonblue added 20:20 - Dec 11 OH NO They will slash the next transfer budget now . Evans out Mcarthy out
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Hatman added 20:24 - Dec 11 Unfortunately we're like a tyre with a slow puncture - in an evermore competitive and affluent Championship, we have no momentum, no catalyst to success, and the slow deflation continues year on year. It needs a radical change to turn it round. A new, younger, more creative manager who will put an attacking, passing style on the park. We have to attract crowds back with style, even if we don't win every week...!

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howdonblue added 20:28 - Dec 11 Very true Hatman
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jas0999 added 20:32 - Dec 11 It's a vicious circle. We need to significantly invest to compete. This reeks of more Evans spin to me, no mention of the debt being bought for a fraction in the first place.
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IpswichFuture added 20:39 - Dec 11 To make a year on year loss of £1.45m on ticket and commercial revenue combined with “losing” 3,500 season ticket holders (or 20% of your “customer base”) would cost most managers and managing directors their job in most businesses...
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shoopdelang added 20:46 - Dec 11 Now maybe they will seriously try and address the issue of rapidly declining attendances. Instead of waiting for them to increase due to success on the pitch.
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OohArrPaulGoddard added 21:06 - Dec 11 This loss of £4.3 million includes 0.6 million paid as interest presumably to ME so only £3.7 million loss excluding the cost of this debt. Although an enormous amount of money this is an acceptable yearly loss for ME I would have thought. I am actually feeling more positive than I have done for years. We may not get in the play offs but I think this is a better squad than our last play off squad with more attacking quality, e.g Tabb vs Celina. 1 play off match in 10 years is still under par for ITFC though. It sad to note that selling Murphy gained more money for the club than well over half of the gate receipts and that TV revenue brings in more revenue than all the real fans attending games. Apart from Mick's insulting post match comments I think we are having a good season.

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OohArrPaulGoddard added 21:06 - Dec 11 This loss of £4.3 million includes 0.6 million paid as interest presumably to ME so only £3.7 million loss excluding the cost of this debt. Although an enormous amount of money this is an acceptable yearly loss for ME I would have thought. I am actually feeling more positive than I have done for years. We may not get in the play offs but I think this is a better squad than our last play off squad with more attacking quality, e.g Tabb vs Celina. 1 play off match in 10 years is still under par for ITFC though. It sad to note that selling Murphy gained more money for the club than well over half of the gate receipts and that TV revenue brings in more revenue than all the real fans attending games. Apart from Mick's insulting post match comments I think we are having a good season.

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itfcbam added 21:55 - Dec 11 To think we were lower in the table and in the times of RK losing nearly 3 times that amount. Maybe we should reflect on where we are and the finances our manager had to work with. This season is far better, one of the top scorers in the league, looking far more dangerous going forward, some excellent value signings in the summer and sitting within touching distance of the play offs. All this considering we have yet to be in a position to play our strongest 11 due to injuries. If that doesn't get crowds back then the question is are some as stubborn as our manager allegedly is?

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Karlosfandangal added 22:05 - Dec 11 Again the endless circle Player wages go up and fans expect the club to spend on money on new players (jan window how many will moan if the club don't buy anyone) So ticket price go up and gates go down so price go up further. Poor performance on the field so gates fall and prices go up again. This season more attacking football yet gates still low. Still think the cost of every day living has a big bearing on gates as I have found that the cost of going to games have become more expensive not just ticket prices but cost of petrol parking the cost of a programme food etc, maybe not so much for those that live in Ipswich or close by but for myself it's a 4 hour round trip. Think football is far to expensive now and will never be cheap with so much money being poured in from tv to the top teams, how will Ipswich ever be able to compete with Man C and Arsenal's etc

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Blue_75 added 22:45 - Dec 11 We've got the best squad we've had in 10+ years and with everyone back fit (excluding Dozzell) it will be tough to know who to leave out! My point is that we don't need to be spending millions on transfer fees! What we desperately need is more bums on seats and to generate an atmosphere in PR - I honestly think this could help get us to the Play Offs this season. Let's give tickets to Schools and Charities. Empty seats need filling, one way or another!

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runningout added 22:59 - Dec 11 we need to find a couple of midfield ball winning dynamos and a solid CB for next to nothing then
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Kirbmeister added 23:01 - Dec 11 Howdonblue - what are you talking about ‘Evans out'? What's he going to do, sell the club for minus £89 million?
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howdonblue added 23:25 - Dec 11 Kirbmeister 10 years of his ownership we have gone backwards! Whatever he does year after year can you honestly say we are in a football sense better than we were when he took over the club ? Answer no That is why I would rather see him sell ! I know it won't happen in all honesty but this club needs change
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bobble added 03:15 - Dec 12 they could get the gate receipts up by playing good football
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bobble added 03:17 - Dec 12 or giving out free beer...
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KiwiBlue2 added 04:13 - Dec 12 There are more positives this season than we have seen for a while. Much more threat up front is the key one. Need to see Adeyemi back and him and Huws starting with Skuse on the bench. Also be good to see Tommy back and Chambo on the bench. Love to see Tommy and Webster playing in cb roles together for an extended run of time. This is the best squad we have had for a long time and Teddy getting game time is another positive with the likelihood of Andre being back towards the end of this season. Would be great if those staying away could reconsider their stance and boost the crowd numbers and atmosphere. We are in with a shout of making the playoffs and everything positive could help get us over that line. Not prepared to write our chances off yet......

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Karlosfandangal added 05:36 - Dec 12 KiwBlue2 Is it stay away or can't afford, as I said players wages go up each year and ticket prices go up to help pay for it. The reason for me not going is the cost I can't afford to keep going,it cost around the £120 pound mark for me to go to a game.ticket petrol parking getting time of work for midweek games, and in the past poor football.
7

singingtheblues added 05:47 - Dec 12 new business plan - scrap the football team & open PR as a concert venue ..
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Marcus added 08:04 - Dec 12 There are two main problems. 1. We should have accepted 7m for the sale of Jay Tabb and 2. Nobody wanted to buy Jay Tabb even on a free transfer
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rfretwell added 08:52 - Dec 12 Yes ticket prices are high but there are ways to cut the cost. Hal season tickets, cheaper seats, dont buy a programme, park on the streets instead of in a car park. Dont include the cost of food either. You would need to eat if you were at home anyway. Take sandwiches. I think Karlosfandangals £120 could easily be reduced to £70 odd. Not bad for a good Tim out with mates and that includes considerable travel costs.

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Barty added 09:12 - Dec 12 The standard of this seasons football has been ok so far but the last 2 seasons - particularly last seasons was absolute boring , crap , rubbish - no wonder the crowds are falling and they will continue to do so under Evans & MM. I know there is no quick fire remedy but lets face it - literally anybody would be better than MM.
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Gcon added 09:21 - Dec 12 Many people blamed MM for our woes last season, and are still struggling to warm to him again - even though the football is vastly improved. It's worth remembering that the owner sold our top scorer two weeks before the season started and failed to bring other players in.
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Barty added 09:23 - Dec 12 if you park on the streets in Ipswich -rfretwell you will get a parking ticket because 95 % are for residents with permits
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