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Diane

Ipswich AGM tonight

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They''ve got their plc agm tonight and the only people attending  are Milne ( Evans mouthpiece ) and 2 academy coaches.
''''Ahead of the agm in his letter to shareholders, PLC chairman Roger Finbow wrote: “Ian Milne, the club’s managing director, will be on hand to answer any questions you may have. Mick McCarthy is unfortunately not able to attend this year, but Lee O’Neill, the academy manager, Bryan Klug, head of coaching and player development, and other academy representatives will also be present to answer your questions about the academy and the increasing flow of talented boys now being prepared for the first team.The PLC owns 12.5 per cent of Ipswich Town Football Club Co Limited and consists of the club''s shareholding prior to the takeover 10 years ago this month with Marcus Evans owning the other 87.5 per cent. The meeting is open only to shareholders or their proxies.In addition to the PLC’s own accounts, shareholders will also be provided with a summary of the club''s accounts for the year to the end of June 2017 ''''

Read the whole article, Milne didn''t think we were anything special when we beat them at PR, so not sure what that says about them ha ha and then read the comments underneath

[url]https://www.twtd.co.uk/ipswich-town-news/32508/milne-to-discuss-derby-kick-off-times-following-constructive-meet-the-club-event[/url]

Guess we''re lucky that our owners, whole board,  Sporting Director & Head Coach turned up for ours, we got a detailed presentation from our finance director, managing director & chairman and there was plenty of time for the 350 shareholders to ask questions  after the main business

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[quote user="Duncan Edwards"]Wonder if anyone that posts on here will be attending?[/quote]I think that there will be quite a few! Somebody enterprising could come up with a list[:)]

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[quote user="TIL 1010"]Isn''t this just the PLC (12.5 % ) AGM as opposed to the Club AGM Diane ?[/quote]
Don''t know, just saw it was their agm [:)] 
Theirs  club accounts  all revealed tonight up to June 17 are all here if anyone is interested as to how it compares with ours, their wage bill was only £18m but their debt overall has gone up to £89:26m
[url]https://www.twtd.co.uk/ipswich-town-news/32781/town-announce-%EF%BF%BD4.3m-pre-tax-loss[/url]

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[quote user="Diane"][quote user="TIL 1010"]Isn''t this just the PLC (12.5 % ) AGM as opposed to the Club AGM Diane ?[/quote]
Don''t know, just saw it was their agm [:)] 
Theirs  club accounts  all revealed tonight up to June 17 are all here if anyone is interested as to how it compares with ours, their wage bill was only £18m but their debt overall has gone up to £89:26m
[url]https://www.twtd.co.uk/ipswich-town-news/32781/town-announce-%EF%BF%BD4.3m-pre-tax-loss[/url]
[/quote]
Perhaps one of our FPAs could explain how that''s possible?

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[quote user="nutty nigel"][quote user="Diane"][quote user="TIL 1010"]Isn''t this just the PLC (12.5 % ) AGM as opposed to the Club AGM Diane ?[/quote]
Don''t know, just saw it was their agm [:)] 
Theirs  club accounts  all revealed tonight up to June 17 are all here if anyone is interested as to how it compares with ours, their wage bill was only £18m but their debt overall has gone up to £89:26m
[url]https://www.twtd.co.uk/ipswich-town-news/32781/town-announce-%EF%BF%BD4.3m-pre-tax-loss[/url]
[/quote]
Perhaps one of our FPAs could explain how that''s possible?
[/quote]They made an overall loss of 37m but recevieved back £4m in transfer fees so the net £3m is added to the £86m.... giving a now £89m debtBut thanks to having an hinvestor -Gate receipts were down from £6.5 million in 2015/16 to £5.13 million

last season, commercial income also dropped slightly, from £4.43

million to £4.35 millionthe average attendance was down from 18,959 in 2015/16 to 16,980 last

season, season ticket sales were also lower at 12,022 in 2016/17

from 14,017 the previous year with a further drop to around 10,500 ahead

of the current campaign.

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maybe worrying about citys current plight as opposed to worrying/comparing against ip5h1t would be a better idea, its irrelevent really, we splashed it up the wall and arent really any better off from a football success perspective right now, we are in the same division and 5 points down on them already. worry about the bigger picture

the really tragic thing is when you look at the size of the club and the boards failure to capitilize on not so distant top flight opportunities in comparision to the likes of west brom, burnley, huddersfield, brighton, bournemouth, stoke, west brom, crystal palace and leicester

delia out

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[quote user="Diane"]

Guess we''re lucky that our owners

[/quote]are skint? wont sell? wont even look for someone outside the region with the money to actually run a modern day football business ?

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I imagine their situation must be incredibly frustrating. Our owners don''t put in money these days as they don''t have it. Evans has it but refuses to.

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[quote user="iron_stan"][quote user="Diane"]

Guess we''re lucky that our owners

[/quote]are skint? wont sell? wont even look for someone outside the region with the money to actually run a modern day football business ?[/quote]Like Ipswich you mean?

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I wouldn’t Laugh too hard.

That £18m wage figure is about our sustainability wage level post next summer.

Without increased external debt, investment or Director loans we will also very likely lose money year-on-year surviving in the Championship. It is now a far more expensive place to fail (not succeed) than it once was.

To achieve net sustainability after next summer, net costs of c£23m will need to be cut from the current figures. This is after the cuts and restructuring we have already had.

Funding losses - as Evans does - is the Championship norm and we do not currently show the financial means to do this.

If we are forced to retain Naismith, Jarvis, Klose, Pinto (at say +£40k pw) for example, that would be £8m pa, the remaining squad must then fit into the remaining £10m.

In practice this means not only keeping what you don’t want to keep, but being forced to build around it, whilst selling what you don’t want to sell (Pritchard, Maddison, Oliveira).

Evans is actually funding a loss-making operation, which true sustainability cannot afford to do in any way.

Parma

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Funding losses - as Evans does - is the Championship norm and we do not currently show the financial means to do this.by transferring ALL transfer income to his group of companies then handing SOME of it backsounds like funding to me, not

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[quote user="FenwayFrank"]I was under the impression that the sales of Howson and Murphy will help cover some of next year[/quote]But I imagine by the same token we will still paying for players we have bought recently.

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The AGM suggests we''ve made about £9m in transfer profit and cut around £180k per week (so about £9m p/y) from the playing wage budget. As far as I can see that will have covered the drop in income from this year but not next. Could be wrong though.

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https://www.twtd.co.uk/ipswich-town-news/32782/senior-citizens-switch-and-cobbold-stand-move-prove-controversial-at-plc-agmI don''t suppose too many will be interested but here is a link to what happened last night.Two things struck me 1) only 58 attended and 2) with regard to the rise in concession age from 60 to 65Milne stated the decision was made by the powers that be. He is the Managing Director FFS !

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[quote user="Parma"]

If we are forced to retain Naismith, Jarvis, Klose, Pinto (at say +£40k pw) for example, that would be £8m pa,[/quote]I still struggle to understand why David McNally, who was supposedly good with money, would sign contracts that would continue once the parachute payments had gone, leaving us with a huge liability if we couldn''t overload the players.

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If we are forced to retain Naismith, Jarvis, Klose, Pinto (at say +£40k pw) for example, that would be £8m pa

To suggest that all those players are on £40k a week is a bit barmy in my opinion, it would mean Jarvis , Klose and Pinto were on £80k a week when we were in the prem and that can’t be right.

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Let’s extend the principle to make the point.

Second tier earners on £30k pw to include Oliveira, Wes, Hanley, Pritchard. That’s another £6m.

Now we’re at £14m and we have £4m left for the rest of the sustainable squad.

Parma

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The Thing is Evans could write their debt off with one cheque our owners could not if we got heavy into debt

I wouldn''t want Evans god no ! but someone with his money willing to put money in would be handy !!

if we had a person with 700 mil wealth who ran it as a buisness without stripping but willing to put in 10 million a year if needed would suit me :-)

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Parma, we can all guess what the players are earning, and again I think your estimates are too high. I very much doubt we’re paying those players you mentioned over a million a year currently

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