And what's more, they have to live with the shame of the 5% pay-out to local businesses

The Shame of Anglia

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“Ipswich Town Ist were surprised to discover from the Annual Report and Accounts that the chairman of the club received a bonus of £25,000 in the year to June 30th 2006. We understand that this was awarded by the remuneration committee of Ipswich Town plc for meeting pre-determined targets. The remuneration committee is comprised of non-executive members of the board of directors.

In response to a question from a member of the Trust at its AGM last Thursday, club chief executive Derek Bowden confirmed that Town had met its final obligations under the Company Voluntary Arrangement (CVA) which was agreed when the club came out of administration in 2003. This agreement included paying only 5p in the pound to the club's unsecured creditors, many of which were small local businesses who as a result suffered significant losses. This being the case, how can the chairman morally justify accepting this bonus payment? Should he not make a gesture such as donating the money to the club's academy or making additional personal payments to those unsecured creditors that lost out and to whom he must have some responsibility?”

Posted By: Old Git on October 29th 2007 at 13:39:44

Message Thread

Top of the league, but upside down, we're top of the league, but upside down (NCFC) - Old Git, Oct 29, 13:21:30
- Yeah, let's make noise like these lot... (NCFC) - Robert_Chase, Oct 29, 13:24:55
  - I've been to Portman Road on several occasions (NCFC) - yarmyyarmy, Oct 29, 13:37:22
  - Again, how can one be proud of the tuneless braying by a bunch of neanderthals... (NCFC) - Arganth, Oct 29, 13:35:13
  - I don't think we will be seeing much of you..... (NCFC) - Highlander, Oct 29, 13:33:29
  - piss off six toed inbred (n/m) (NCFC) - JewellintheNest, Oct 29, 13:31:38
  - ......... (NCFC) - Old Git, Oct 29, 13:26:29
- Agreed (NCFC) - duke of york, Oct 29, 13:22:48
  - Yup, we need to act like the Leeds mentalists did (NCFC) - Old Git, Oct 29, 13:27:33
    - Probably not (NCFC) - Robert_Chase, Oct 29, 13:32:36
      - Oh fuck off (n/m) (NCFC) - duke of york, Oct 29, 13:33:59
        
        It's true (NCFC) - Robert_Chase, Oct 29, 13:35:11
        
        .......... (NCFC) - Tricky Hawes, Oct 29, 13:39:53
        
        Yeah but they are inbred scum though arent they? (n/m) (NCFC) - earlydoors, Oct 29, 13:36:11
        
        And what's more, they have to live with the shame of the 5% pay-out to local businesses (NCFC) - Old Git, Oct 29, 13:39:44
        
        Oh and we're not (NCFC) - Robert_Chase, Oct 29, 13:39:07
        
        Robert Chase makes you understand why incest is against the law (n/m) (NCFC) - JewellintheNest, Oct 29, 13:41:03

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