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.
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.
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.
Please enter your postcode to continue. We'll remember it for next time.