Town report loss of more than £5m for the year
Ipswich Town Football Club have reported a loss of £5.2 million before tax for the financial year 2017-18.
This is an increase of close on £1m from the previous year.
The figures include the revenue gained by the transfers of Adam Webster to Bristol City and Kieffer Moore to Barnsley.
Direct costs increased from £21.4m in 2016-17 to £22m, mainly due to player wages.
A refund from historic policing costs contributed significantly to a decrease in administrative expenses from £2.3m to £1.6 million in 2017-18.
The figures will be presented to the shareholders at tonight’s Ipswich Town PLC AGM held in the Sir Bobby Robson Suite from 7.30pm, with Paul Lambert in attendance to take questions, while the Town boss will also take in the FA Youth Cup tie against Andover Town.
See here for the full financial highlights.