Ipswich Town 2017/18 accounts

Sport

Ipswich Town lost over £8 million: 2017/18 accounts reviewed

Ipswich Town spent just £436,000 on new players last season, the club’s accounts have revealed. It also had an operating loss of £8.39 million for the year—over £160,000 per week.

The club’s full accounts for the year (up to 30 June 2018) were released on March 8th. We took a look at the full document, alongside some analysis from football finance expert Kieran Maguire, to see what we could learn about the club’s financial position.

Ipswich Town FC 2017/18 accounts: Key takeaways

Marcus Evans: In 2018 the club received £6.2 million from the owner, up from just over £3 million in 2017.

Ipswich have had to borrow from Marcus Evans nearly every year since he took over the club. His lending has averaged £75,000 a week for the last seven years, according to Maguire’s analysis.

During Evans' time as owner, the following companies have lent money to Ipswich Town Football Club Company Limited: Marcus Evans International Kft (£43.4m), Marcus Evans Worldwide Holdings (£38.2m, plus £6m in dividends is outstanding), Marcus Evans (IOM) Holdings (£5.0m).

In total it appears the club owes Marcus Evans’ companies £87.6 million plus dividends.

Marcus Evans (Guernsey) Ltd owns the club’s Playford Road training ground and charges rent of £60,000 a year.

Transfers: Ipswich spent just £436,000 on signing new players including Joe Garner and Martyn Waghorn in 2017/18. Whereas outgoing transfers earned the club just under £4.1 million.

Maguire noted on Twitter that the club’s spending is the lowest in the Championship (of clubs that have released their accounts). To put that into context, Middlesbrough spent £150.29 on players for every £1 spent by Ipswich.

Turnover: The club’s turnover decreased by £116,000 to £17,129,000. This was mainly due to attendances dropping from an average of 16,980 in 2016/17 to 16,272 in 2017/18.

The club earned just over £8 million from the Football League broadcast rights, £4.3 million from commercial income and £4.7 million in match day and ticket revenue.

Wage spending: The club spent £18.5 million—108% of its turnover—on wages. This is 42% below the average Championship wage bill of £31.2m, Maguire told us.

The big picture

This doesn’t make great reading for Town fans, but Ipswich are not alone here: 17 of the 24 clubs in the Championship from 2017/18 have now published their accounts with an overall loss of £366 million.

Why we published this: Ipswich Town FC is a key part of the local community and it’s important for the fans to understand the club’s financial position. All data was sourced from the club’s annual accounts and account highlights. Some analysis was shared by Kieran Maguire.

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