Where do you think? At the bottom of a bottle I expect, or on the phone to the Samaritans. Terrible figures, if it were another type of business it would have put out of its misery by now with little to no hope of increasing revenue or achieving better margins on their existing product with their gate falling.
Joking apart it is worrying and another reality check as to how stupid money in football is. The list of clubs in real trouble continues to grow but it all comes back to paying people multiple thousands a week. It is so far from the real world is there any wonder that it is all coming crashing down? Ipswich won't be the last.
Here's a better (?) idea of the breakdown - that Evans is probably having as I type please log in to view this image
The problem is that football clubs need to be run in a commercially viable manner to exist. There has to be Turnover, profit and loss just like in my company. If my company was in the state that Town is in or anywhere near it I would bankrupted. People complain that football these days is just a business, but it's the only long term way to run a club. You only have to look at long list of clubs that have forgotten this rule to see where they have ended up.
what i would like to know is, why are clubs allowed to go in to administration a second time. surely, in any business world, this cannot be allowed to happen. all it does is to allow unscrupulous practitioners to bilk the smaller traders of their money, on the principal that "we can build up massive debts because we don't have to pay off, just go into administration". surely the football authorities have to do something about this.
One observation and one question, if I may. They are largely dependent this season on loan players - did they not see that under the Rodent faced abomination who shall not be named, we paid out shedloads of money on agents fees and signing on fees How do this latest set of figures sit within the Financial Fair Play regulations, as I'm no accountant.
Good question, they may well be in serious do do. No money and a ten point deduction before they kick a ball next season ?
I don't think that ITFC will be affected by FFP at this stage. I think that they would only face a points deduction if they went into administration which will only happen if ME pulls the plug. I can't imagine that many over the border are having sleepless nights over administration. Their figures are terrible and if the club was any other businees (other than a bank!) it would have the liquidators in already but as longas ME keeps putting his hand in his pocket they will soldier on.
I see that the fact that only 7m of that is to external debtors has been forgotten! Don't get me wrong, it doesn't make for pretty reading, but that one fact is one almighty saving grace! plus getting cleggy's wage bill off the books, nearly 200k a year for being a complete and utterly useless ****er!
I think this lot need to spend more time worrying about where their next win is going to come from! Only one win in 14 games good old Whotun
saw something on sky sports last night that norwich's claim to fame is being in the higest position at christmas (7th) only to get relegated. seems like Whotun is following agent worthys lead.
apparently sky are doing a new statistic for norwich games................ how many times they get more than one player in the oppo's half!
After agent Martin C has slammed a hat trick past you tomorrow, you may well be able to reinvest that £1m on matters more pressing - like reducing that external debt
