Just read this about Ipswich finances in Guardian - haven't time to see if ww

Ipswich in debt to owner
Like several other Championship clubs, Ipswich Town are cashflow insolvent. "We only survive because Marcus Evans can afford to put in ?4m or ?5m of his own money every year to keep the club afloat," said the chief executive, Simon Clegg. "That is testing on anyone's pockets, however deep they are."

Evans's pockets certainly are deep: the secondary-market ticket seller is worth ?625m according to the Sunday Times Rich List, making him one of the 125 richest people in the country. But Ipswich fans should be forgiven for not tripping over themselves with gratitude to Evans. After all, the football-club company's debt stood at about ?7.6m in June 2007, six months before Evans's takeover ? about 73% of the club's turnover. Now, according to the most recent accounts, it has swelled to ?40.9m ? even when taking off the ?11.6m owed to subsidiary companies the debt to turnover ratio of the club is a punishing 187.8%. Added to that are the ?30.9m of loan notes that "following the acquisition of the company ... were assigned to Marcus Evans International Finance KFT. The interest rate on these loan notes is 7.29% per annum." That meant ?1.9m of loan-note interest due to Evans was added to the total debt of Ipswich's group companies in the year to June 2010, taking it to ?64m. Lucky those pockets are deep.

Posted By: trustsec on August 12th 2011 at 15:49:00

Message Thread

Just read this about Ipswich finances in Guardian - haven't time to see if ww (Other Football) - trustsec, Aug 12, 15:49:00
- Their crowds are going down by the year......failing club (n/m) (Other Football) - usacanary, Aug 12, 16:15:30
  - I was chatting to a very nice scummer yesterday... (Other Football) - Dandy Highburyman, Aug 12, 16:30:59
  - Oh how they gloated when they came to FCR after he had taken over. Waving their money, (Other Football) - jafski, Aug 12, 16:22:58
- Secondary market ticket seller (Other Football) - ghostof barry butler, Aug 12, 16:02:33
  - he has the official contract for selling Olympic tickets in Ireland (Other Football) - Ralf Scrampton, Aug 12, 16:46:19
  - i always thought he was an arms dealer (n/m) (Other Football) - samcd84, Aug 12, 16:05:37
    - No, he facilitates arms deals, and therefore the horrific death of innocent children, by (Other Football) - jafski, Aug 12, 16:07:25
      - lolz, got yours and APB's messages, will give you a shout in the morning. (Other Football) - samcd84, Aug 12, 16:09:17
        
        Top man, look forward to seeing you again mate. (n/m) (Other Football) - jafski, Aug 12, 16:10:02
        
        yes you too, think we have a good chance of converting my arsenal supporting brother too (Other Football) - samcd84, Aug 12, 16:13:46
        
        Leave it to us, we'll have him singing OTBC by the end of the day. (n/m) (Other Football) - jafski, Aug 12, 16:20:38
        
        Let's say, hypopathetically, right (Other Football) - Hertz van Rental, Aug 12, 16:51:39
        
        We'll be in the Marquee tent bit at the ground for bears. (Other Football) - jafski, Aug 12, 18:45:44
- Lovely stuff, cheers. I really enjoyed reading that. If he walks away they are fubared. (Other Football) - jafski, Aug 12, 15:51:37
  - "if?", morelike "when!" (Other Football) - Cheltenham_Canary, Aug 12, 15:53:12
    - Tick Tock. The EDP should do a clock for them. Haha. I'd love that off. (Other Football) - jafski, Aug 12, 15:55:17

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