Ipswich Town suffering 'cash flow' problems

An Ipswich Town sign is seen inside of Portman Road, home of Ipswich Town Football Club on March 15, 2011
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Ipswich Town are reportedly suffering from cash flow problems that mean they cannot pay several individuals and businesses.

Ipswich Town are reportedly suffering cash flow "delays" that mean they cannot pay several individuals and businesses.

According to the East Anglian Daily Times, an email sent by the club's financial director to a player's agent said that the Blues were having to "readdress" their cash flow over the next six months.

A statement has since been released by joint managing director Ian Milne, which reads: "We endeavour to meet the payment terms of the companies and individuals we work with but at times during the year, just like with any business, there are delays in cash flow. This is income coming into us as well as expenditure going out.

"I'd like to reiterate though that the football club is on very sound financial footing with the support of the owner (Marcus Evans), who remains fully committed to seeing Ipswich Town achieve his and the club's goal of reaching the Premier League."

An unnamed agent also told the EADT that if the club continue to be sluggish with payments, then "people will stop doing business with them".

The Suffolk side have won three games in a row and sit ninth in the Championship, two points off the playoff places.

They are the second tier's longest-serving side as they have not been promoted or relegated since they dropped from the Premier League in 2001-02.

Portman Road
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