Swiss Ramble on the latest ITFC accounts

This morning the well-known football business writer who goes by the Twitter name of @SwissRamble posted several tweets about the newly-released 2012 ITFC accounts. They are of so much interest to supporters, I thought that I’d post them here:

1. Ipswich Town’s 2012 detailed accounts have been published: £16.0m loss is much higher than 2011 loss of £3.2m #itfc https://twitter.com/SwissRamble/status/320087166187339776/photo/1

2. #itfc £16.0m loss was 3rd largest in Championship in season 2011/12, only surpassed by Leicester £29.7m and West Ham £25.5m.

3. #itfc 2012 £15.0m revenue down 13% from £17.2m in 2011, reflecting lower attendances (19,615 to 18,232) and no Carling Cup run (SF in 2011).

4. #itfc 2012 revenue £15.0m (2011 £17.2m): gate receipts £5.4m (2011 £6.6m), TV £5.0m (2011 £5.5m), commercial £4.7m (2011 £5.1m).

5. #itfc 2012 profit on player sales £0.2m much lower than 2011 £10.8m (included sale of Connor Wickham to Sunderland & Jon Walters to Stoke).

6. #itfc 2012 staff costs held at £18.0m (2011 £17.6m), though wages to turnover ratio increased from 102% to 119%.

7. #itfc 119% wages to turnover ratio one of highest in Championship: Bristol City 157%, Leicester 130%, Boro 119%, Forest 119%, Cardiff 103%.

8. #itfc sold their training ground land to owner Marcus Evans for £1.3m (profit £0.5m) during the year. Annual rent of £40,000 will be paid.

9. #itfc 2012 gross debt rose £5.9m to £72.5m (2011 £66.6m) – almost all of this is owed to various Marcus Evans’ companies.

10. #itfc £3.5m interest payable is 2nd highest in Championship (only behind Leicester £5.3m), tho’ it is not actually paid, just added to debt.

11. #itfc also signed a five-year sponsorship agreement in May 2008 with Marcus Evans for a sum of £1.5m.

12. If #itfc promoted to PL, club would have to pay £10.2m to “players, coaches, staff, players’ former clubs, ST holders & loan note holders”.

We recommend Town fans follow @SwissRamble on Twitter and read his blog: http://swissramble.blogspot.co.uk/

 

FOOTNOTE: Turnstile Blues also note  that the training ground was sold to Marcus Evans Guernsey, which is handily outside the auspices of Companies House.

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