Town Announce Loss
By Aston
January 7 2009
Ipswich Town PLC have today announced a pre-tax loss of £5.5 million for the year ending 30th June 2008.
The loss is a complete reverse from the small profit made by the club for the year ending 30th June 2007, although this is mostly due to the investment in the playing squad made since Marcus Evans brought the club last year.
Chief executive Derek Bowden: "It's something we were prepared for following the investment by Marcus Evans.
"It's a wholly predicted loss so in that respect it isn't worrying at all.
"The Marcus Evans Group isn't immune to recession but it continues to trade profitably, it's a very strong global business so has more protection than most, The acquisition of the club and the money that was injected into the club at the beginning of last year was put there to invest in players and we will continue to underwrite the investment that's been made."
Source: Ipswich Town - the official website
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just want to know how come in the e.a.d.t a few days back, mr bowden said there would br money for new players? by the looks there won't be