Thirsty Lizard 3,165 Posted March 24 Not on the pitch, but off it. Loss of £18.7 million for June 2022 to June 2023. Loss of £12.6 million the previous year. Losses "expected to increase further" for this financial year. If they get promoted shouldn't be much of a problem for them, but a different story if they don't. https://www.eadt.co.uk/sport/24205704.ipswich-town-accounts-2022-2023-financial-year-revealed/ 1 Share this post Link to post Share on other sites
RobJames 881 Posted March 24 5 minutes ago, Thirsty Lizard said: If they get promoted shouldn't be much of a problem for them, but a different story if they don't. So paying off £45m should not be a problem, and it won't impact on their player budget ? Share this post Link to post Share on other sites
BroadstairsR 2,171 Posted March 24 (edited) 6 hours ago, RobJames said: So paying off £45m should not be a problem, and it won't impact on their player budget ? They haven't got to pay off anything. The statement suggests it is within the financial plans of the ownership ... who seem to have already off-set this loss by selling off 40% of the club for £100m. They consider it to be 'speculate to accumulate.' Whether this latest development can be seen as ominous or not is debatable, especially as it is involving a US Private Equity firm. I suppose all such takeovers can be fraught with dangers, including our own, but if our current ownership is to be believed all due scrutiny of Mark Annatasio was carried out before negotiations were embarked upon. More so than that carried out by the more dubious, desperate and less committed Marcus Evans, I would suggest. If I were an ITFC fan, I would be more concerned about the elements behind the takeover of their club than us City supporters should be about their own, but, as was the case last time, the majority of them just seem to see £50 notes before their eyes and have visions of Europe in their deluded minds. In this respect, Mark Ashton's Svengali impersonation is working a treat, while he uses the club as a cash cow for his own pockets along with others, especially the so-called "gang of three." The club and their ground were a dump when they took over and the team was rock-bottom. They were easy prey for such vultures with their financial and expansionist promises, but at the end of the day they seem more interested in real estate and the entire enterprise and making money from this than the progress of club its self in the long-term, although initially these will go hand in hand. Edited March 24 by BroadstairsR Share this post Link to post Share on other sites
BlueHope76 70 Posted March 24 (edited) 6 hours ago, Thirsty Lizard said: Not on the pitch, but off it. Loss of £18.7 million for June 2022 to June 2023. Loss of £12.6 million the previous year. Losses "expected to increase further" for this financial year. If they get promoted shouldn't be much of a problem for them, but a different story if they don't. https://www.eadt.co.uk/sport/24205704.ipswich-town-accounts-2022-2023-financial-year-revealed/ Football club outside the Premier League in making loss shocker...... I mean seriously, there is nothing to see here really is there? I know you guys want to see us fail and I get that but pretty much all EFL clubs and even a fair few in the prem are making losses aren't they? Its just the current landscape of Football in this country at the moment unfortunately. Edited March 24 by BlueHope76 Share this post Link to post Share on other sites
Paul101 93 Posted March 24 the only thing to see is the wage bill is pretty close to ours and was massive for league one pretty much bought promotion Share this post Link to post Share on other sites
cambridgeshire canary 6,721 Posted March 24 1 hour ago, Paul101 said: the only thing to see is the wage bill is pretty close to ours and was massive for league one pretty much bought promotion Which is funny.. They bought promotion yet now complain winge and moan about Leicester and Leeds having more money than them! 1 Share this post Link to post Share on other sites
Thirsty Lizard 3,165 Posted March 24 2 hours ago, BlueHope76 said: Football club outside the Premier League in making loss shocker...... I mean seriously, there is nothing to see here really is there? I know you guys want to see us fail and I get that but pretty much all EFL clubs and even a fair few in the prem are making losses aren't they? Its just the current landscape of Football in this country at the moment unfortunately. As others have said you're one of the few sensible Ipswich fans who come on here, but you seem a little bit defensive about this. I just posted it as information really. I never said that I want to see you fail - and I never said it was shocking. And saying that you have made "loss after loss" is just a simple statement of fact. 1 Share this post Link to post Share on other sites
Thirsty Lizard 3,165 Posted March 24 (edited) 9 hours ago, RobJames said: So paying off £45m should not be a problem, and it won't impact on their player budget ? It would be a problem if there was something in their financial arrangements which said they have to pay off all their outstanding debt on promotion. I've got no idea if that is the case, but it isn't normally. They have also maxed out pretty much on loan players this season and as we found out with Skipp this can prove problematic on promotion. Edited March 24 by Thirsty Lizard Share this post Link to post Share on other sites
BlueHope76 70 Posted March 24 (edited) 57 minutes ago, Thirsty Lizard said: As others have said you're one of the few sensible Ipswich fans who come on here, but you seem a little bit defensive about this. I just posted it as information really. I never said that I want to see you fail - and I never said it was shocking. And saying that you have made "loss after loss" is just a simple statement of fact. Not saying it isn't a fact, i'm just not sure what point you are trying to make. Everybody in the EFL makes a loss don't they? I've not checked NCFC's accounts but I can't imagine you have made a profit very often in recent years and that's with some pretty significant player sales as well. I also make you incorrect about us being in trouble if not promoted this season. There is a medium to long term plan in place and we have just received significant new investment to put towards the infrastructure of the club. We have not gambled on promotion this season so are not about to go pop if it doesn't happen. Edited March 24 by BlueHope76 Share this post Link to post Share on other sites
Jack Flash 13 Posted March 24 Out of interest just who are these people, Bright Path Sports Partners? Had a look online and there is very little info, other than they are a private equity outfit, but no obvious track records. Assuming proper due diligence has been done, otherwise the risk of switching 40% of the club from a mega wealthy pension fund to a risk reward group would worry me if I was a fan. Share this post Link to post Share on other sites
Capt. Pants 4,236 Posted March 24 Once you open yourself up to investment from third party sources you never really know how it will eventually end up further down the line. The same will apply to us once Attanasio fully takes over. The challenge for ITFC and us if promoted, is how you control the wage bill yet have even a fleeting chance of avoiding relegation. Share this post Link to post Share on other sites
shefcanary 2,409 Posted March 24 Bright Path haven't paid anything into the club yet. They have paid ORG for a share in the club. They are a private equity vehicle, who once splashing out expect regular large regular repayments of their investment rather than investing more, with ultimately a complete cash out with a capital surplus within 3 to 5 years, or more usually writing off the investment and cashing out for what they can get and accept a loss. Share this post Link to post Share on other sites
BroadstairsR 2,171 Posted March 24 1 hour ago, BlueHope76 said: Not saying it isn't a fact, i'm just not sure what point you are trying to make. Everybody in the EFL makes a loss don't they? I've not checked NCFC's accounts but I can't imagine you have made a profit very often in recent years and that's with some pretty significant player sales as well. I also make you incorrect about us being in trouble if not promoted this season. There is a medium to long term plan in place and we have just received significant new investment to put towards the infrastructure of the club. We have not gambled on promotion this season so are not about to go pop if it doesn't happen. Admit it. The sale of 40% of your club to a Private Equity Firm came completely out of the blue to you and your fan-base. Things were progressing along nicely for you and that Pension Fund (or whatever) was delivering on its promises as relayed to you all on a regular basis. Things were going nicely to plan and progress was generally exceeding expectations. You were not informed of this shocker, were you even though that also was clearly part of the plans? Ok, you can wrap yourselves in positives such as that highlighted above and that's quite normal for laymen up against the complicated world of big business and with the narrower vision of a mere football club fan and Ashton can, as usual, make all the right noises to justify it. But! I, personally, would be a little concerned about this unexpected turn of events in the same way that I have reservations about our investor and his mention of Aussie capital involvement in NCFC. What next? Share this post Link to post Share on other sites
RobJames 881 Posted March 24 7 hours ago, BroadstairsR said: They haven't got to pay off anything. I never stated they did. I was merely replying to the OP ............... "if they get promoted shouldn't be much of a problem for them". Do try to keep up old fellow 😛 Share this post Link to post Share on other sites
BlueHope76 70 Posted March 24 38 minutes ago, BroadstairsR said: Admit it. The sale of 40% of your club to a Private Equity Firm came completely out of the blue to you and your fan-base. Things were progressing along nicely for you and that Pension Fund (or whatever) was delivering on its promises as relayed to you all on a regular basis. Things were going nicely to plan and progress was generally exceeding expectations. You were not informed of this shocker, were you even though that also was clearly part of the plans? Ok, you can wrap yourselves in positives such as that highlighted above and that's quite normal for laymen up against the complicated world of big business and with the narrower vision of a mere football club fan and Ashton can, as usual, make all the right noises to justify it. But! I, personally, would be a little concerned about this unexpected turn of events in the same way that I have reservations about our investor and his mention of Aussie capital involvement in NCFC. What next? It did come out of the blue yes, I have no problem admitting that. Whether it will turn out to be good, bad or indifferent in the long run I really have no idea but plans for a new training ground and stadium re-development are progressing which are long overdue and can only be a good thing i'd have thought. You and I can be concerned about our clubs as much as we like but ultimately we have no control whatsoever over the ownership situation so personally it is not something that keeps me awake at night. What will be, will be. Share this post Link to post Share on other sites
BroadstairsR 2,171 Posted March 24 12 minutes ago, RobJames said: I never stated they did. I was merely replying to the OP ............... "if they get promoted shouldn't be much of a problem for them". Do try to keep up old fellow 😛 Well, you expressed yourself badly then. What's it got to do with "keeping up" apart from giving Horsefly (or whoever) the chance to throw in the personal stuff? Nothing new there. Share this post Link to post Share on other sites
RobJames 881 Posted March 24 37 minutes ago, BroadstairsR said: Well, you expressed yourself badly then. What's it got to do with "keeping up" apart from giving Horsefly (or whoever) the chance to throw in the personal stuff? Nothing new there. No, you jumped in both feet first. It is quite clear what was stated. If they get promoted shouldn't be much of a problem for them "So paying off £45m should not be a problem, and it won't impact on their player budget ?" Now I have no wish to get drawn into some petty squabble, so I shall leave it there, but do suggest you read posts before replying 😉 Share this post Link to post Share on other sites
BroadstairsR 2,171 Posted March 24 33 minutes ago, RobJames said: No, you jumped in both feet first. It is quite clear what was stated. If they get promoted shouldn't be much of a problem for them "So paying off £45m should not be a problem, and it won't impact on their player budget ?" Now I have no wish to get drawn into some petty squabble, so I shall leave it there, but do suggest you read posts before replying 😉 Yeah, yeah! Tiresome. 2 Share this post Link to post Share on other sites
Hairy Canary 704 Posted March 24 He’s definitely back then 😕 Share this post Link to post Share on other sites
duke63 542 Posted March 24 (edited) Football as a whole is ultimately going to down the pan when the money runs out. It seems the whole western world is obsessed with debt and kicking the can further down the road. One day there will be a judgement day. Edited March 24 by duke63 Share this post Link to post Share on other sites
Ulfotto 635 Posted March 24 Can I just say that I would be pretty surprised if my pension was invested in a football team. Share this post Link to post Share on other sites
Cowboy 197 Posted March 24 1 minute ago, Ulfotto said: Can I just say that I would be pretty surprised if my pension was invested in a football team. Of course you can. Share this post Link to post Share on other sites
duke63 542 Posted March 24 6 minutes ago, Ulfotto said: Can I just say that I would be pretty surprised if my pension was invested in a football team. even more so if you found out it was invested in the blue lot down the road. 😁 Share this post Link to post Share on other sites
Nuff Said 5,142 Posted March 24 32 minutes ago, duke63 said: even more so if you found out it was invested in the blue lot down the road. 😁 Not sure surprised would be the word. Revolted and/or furious would be more accurate. Even ignoring the fact it’s 1p5wich, I would be angry about any money being invested in such a money pit as a football club. “The best way to make a small fortune…” etc. Share this post Link to post Share on other sites
Indy 3,300 Posted March 24 3 hours ago, BroadstairsR said: Yeah, yeah! Tiresome. There are a couple on here who generally are! Share this post Link to post Share on other sites
