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ricardo

Things get worse down the road

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Town announce debts of £82 million.They were waving £20 notes at us a few years ago.[:D]

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That will soon disappear when they swap places with us....they must be favourites for promotion having won a couple of games and we''re DEFINITELY going down now that we''ve been cut adrift at the bottom under Houghton.

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[quote user="Warren Hill"]That will soon disappear when they swap places with us....they must be favourites for promotion having won a couple of games and we''re DEFINITELY going down now that we''ve been cut adrift at the bottom under Houghton.[/quote]Yep, spot on. It looks like a straight swap.And they''ll also win the FA Cup[:D]

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it is a beautiful thing watching our bin dipping friends head to financial ruin. A bit like celtic and rangers in scotland.

Lets hope they end up in the anglian combination.

 

 

 

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[quote user="Waveney canary"]

it is a beautiful thing watching our bin dipping friends head to financial ruin. A bit like celtic and rangers in scotland.

Lets hope they end up in the anglian combination.

[/quote]

Almost convincing.

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They''ll worm their way out again no doubt. The problem for championship clubs is that it''s such an umpredictable league, and the prize is massive. Town just need that one good run and then premiership footy will wipe them debts in about 2 years.

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The trouble is, I read recently that the majority of their debts are not owed to the bank, but to the owner instead, and so aslong as he is happy to keep pumping the money in, it doesn''t look like the debts will really concern them, I''d imagine he is targetting PL football in the next 2/3 years and then he can start to take some of the cash owed to him in instalments that won''t really hurt the club as much as the figure suggests, unfortunately!

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I''ve yet to see any Premier League club make a £69 million profit from being in the Premier League. Even if they do get promoted, their costs will rocket to Premier League levels too so it would take years to repay that amount of debt.....if ever.

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[quote user="ryan1992"]The trouble is, I read recently that the majority of their debts are not owed to the bank, but to the owner instead, and so aslong as he is happy to keep pumping the money in, it doesn''t look like the debts will really concern them, I''d imagine he is targetting PL football in the next 2/3 years and then he can start to take some of the cash owed to him in instalments that won''t really hurt the club as much as the figure suggests, unfortunately![/quote]

 

Sadly thats true ryan, yet again they get away with it.

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[quote user="Warren Hill"]That will soon disappear when they swap places with us....they must be favourites for promotion having won a couple of games and we''re DEFINITELY going down now that we''ve been cut adrift at the bottom under Houghton.[/quote]

 

Binner!

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[quote user="ricardo"]Town announce debts of £82 million.[/quote]

 

I''m not sure I understand this. They''ve apparently made a loss of almost £10m and their debt has gone from £72,481,000 to £82,437,000.

 

http://www.itfc.co.uk/news/article/financial-highlights-2012-13-1217945.aspx

 

Yet last year they reported "The club’s turnover during the year to June 2012 was £15.04m, down on the previous year’s figure of £17.25m.

It means that the club’s debt – which is owed almost wholly to companies owned by Marcus Evans – has risen from £66.6m to £72.62m."

 

But at the start of the report they stated........

 

"IPSWICH Town made a loss of £15.96m in the financial year ending June 2012, with the club’s overall debt rising to £79.62m."

 

http://www.eadt.co.uk/sport/ipswich-town/ipswich_town_make_a_loss_of_15_96m_1_2003376

 

Does this mean that the overall debt now stands at around £90m?

 

 

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[quote user="lappinitup"]

[quote user="ricardo"]Town announce debts of £82 million.[/quote]

 

I''m not sure I understand this. They''ve apparently made a loss of almost £10m and their debt has gone from £72,481,000 to £82,437,000.

 

http://www.itfc.co.uk/news/article/financial-highlights-2012-13-1217945.aspx

 

Yet last year they reported "The club’s turnover during the year to June 2012 was £15.04m, down on the previous year’s figure of £17.25m.

It means that the club’s debt – which is owed almost wholly to companies owned by Marcus Evans – has risen from £66.6m to £72.62m."

 

But at the start of the report they stated........

 

"IPSWICH Town made a loss of £15.96m in the financial year ending June 2012, with the club’s overall debt rising to £79.62m."

 

http://www.eadt.co.uk/sport/ipswich-town/ipswich_town_make_a_loss_of_15_96m_1_2003376

 

Does this mean that the overall debt now stands at around £90m?

 

[/quote]

There never is an FPA around when you need one hey Lapp ? [;)]

 

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[quote user="lappinitup"]

[quote user="ricardo"]Town announce debts of £82 million.[/quote]

 

I''m not sure I understand this. They''ve apparently made a loss of almost £10m and their debt has gone from £72,481,000 to £82,437,000.

 

http://www.itfc.co.uk/news/article/financial-highlights-2012-13-1217945.aspx

 

Yet last year they reported "The club’s turnover during the year to June 2012 was £15.04m, down on the previous year’s figure of £17.25m.

It means that the club’s debt – which is owed almost wholly to companies owned by Marcus Evans – has risen from £66.6m to £72.62m."

 

But at the start of the report they stated........

 

"IPSWICH Town made a loss of £15.96m in the financial year ending June 2012, with the club’s overall debt rising to £79.62m."

 

http://www.eadt.co.uk/sport/ipswich-town/ipswich_town_make_a_loss_of_15_96m_1_2003376

 

Does this mean that the overall debt now stands at around £90m?

 

 

[/quote]Dunno, we need City 1st to clarify this.It seems to me from a limited knowledge of accountancy that as long as the debt is owed to Marcus Evans and he agrees to carry it, then there is no end game. From a laymans point of view it seems he is just using the clubs debts to set against taxation for the profitable sectors of his empire. Perhaps someone with a knowledge of accountancy could enlighten us on the subject.

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"It''s Character Forming"

"Waveney canary"

it is a beautiful thing watching our bin dipping friends head to financial ruin. A bit like celtic and rangers in scotland. Lets hope they end up in the anglian combination.

Almost convincing.

:-) :-) :-)

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[quote user="lappinitup"]But at the start of the report they stated........

 

"IPSWICH Town made a loss of £15.96m in the financial year ending June 2012, with the club’s overall debt rising to £79.62m."

 

http://www.eadt.co.uk/sport/ipswich-town/ipswich_town_make_a_loss_of_15_96m_1_2003376

 

Does this mean that the overall debt now stands at around £90m?

 

 

[/quote]The Binner who can write said something about this on TWTD a few days ago apparently it''s to do with £8m owed on preference shares iirc (no prizes for guessing who it''s owed to tho'')[quote user="ryan1992"]I''d imagine he is targetting PL football in the

next 2/3 years and then he can start to take some of the cash owed to

him in instalments [/quote]Well he''s been targeting PL football for a number of years already, tbh I think he gave up two or three years ago LOL!!!

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[quote user="Jimmy Smith"]They''ll worm their way out again no doubt. The problem for championship clubs is that it''s such an umpredictable league, and the prize is massive. Town just need that one good run and then premiership footy will wipe them debts in about 2 years.[/quote]

You think ??? It took us £ years to get rid of £25 million !!!

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[quote user="ryan1992"]The trouble is, I read recently that the majority of their debts are not owed to the bank, but to the owner instead, and so aslong as he is happy to keep pumping the money in, it doesn''t look like the debts will really concern them, I''d imagine he is targetting PL football in the next 2/3 years and then he can start to take some of the cash owed to him in instalments that won''t really hurt the club as much as the figure suggests, unfortunately![/quote]eh ! "...he is happy to keep pumping the money in"in the same way as if when I borrow £100 off Wonga and a week later I owe them £200, they are pumping money into me "it doesn''t look like the debts will really concern them"until they sell players such as Wickham and Walters and the money is goes direct tO Evans to cover the debts or until he takes their traing ground from them to also cover their debts"I''d imagine he is targetting PL football in the next 2/3 years"given that he has not been targeting PL for the past 6 years it''s rather unlikely he is too bothered now"and then he can start to take some of the cash owed to him in

instalments that won''t really hurt the club as much as the figure

suggests"
yes £20m a year over 5 years should do it - that sort of figure will not affect their chances of staying in the PL will it ?

The reality is Evans has never really shown any interest in promotion or the general well being of the club. Bar Mick McCarthy''s appointement the most noticable thing has been the appointment of total incompetents at both board and managerial level. A few months after the club was handed over to him the team were a point or two off the playoffs (Feb 2008) - a million in PL loanees would most likely have pushed them into the play offs ... or further.That money would have been recouped in play off games, TV money and subsequent season ticket sales (remember Foulgers £2m) but from Evans came nothing. The much fabled £12m was merely there to meet ongoing losses.Since then both gates and season ticket sales have plummeted (lowest since 1999), the income is at the lowest for over a decade and the youth system is on it''s knees with the much acclaimed Cat 1 status being dependent upon fans raising the money rather than Evans ''pumping the money in''.As to the debt being owed to the club''s owner that should be of concern given what is happening THAT CAN BE SEEN ie why is the £30m plus debt that was owed to Norwich Union being charged interest at that figure when supposedly Evans only paid £8m or £6m for it ? Why transfer the training ground out of the club''s hands and then charge the club rent if you are supposedly ''pumping money into the club''?  Why syphon of the transfer fees of Wickham and Walters (supposedly £11m) if you are supposedly ''pumping money into the club'' ? Why not allow the club the use that money to strengthen the squad instead ? Why has the club only been signing freebies and aged has beens for the past few seasons if Evans is supposedly ''pumping money into the club'' ?Nothing makes much sense at poorman road, and I suspect however Evans is using the club............ a tax dodge etc the simple fact is that the paupers are on a slow downward spiral, one that will take years to recover from, if ever. RIPswich

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They''ll be relegated before they get promoted I guarantee it! In fact I''d actually be more worried about them if they started to rebuild from league 1 than how they are now, stagnating, with a very poor team, being pushed to their absolute limit of upper mid table by a very good championship but poor premiership manager.

Our reserves would thrash them.

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