By Aston
July 26 2005

Ipswich Town chief executive Derek Bowden has reassured Town fans that the club is financially fine despite recent job loses.

Fans may have a right to be concerned following recent redundancies and Joe Royle claming he has no money left from the Kelvin Davis sale despite only spending a reported £450,000 on Sam Parkin but Bowden has now assured those worried fans that every thing is fine.

 

Bowden: “Financially the club is fine, we have produced a budget for 2005-2006 and an outline for 2006-2007, and we are absolutely ok.

 

“Clubs in our position do need to sell a player to balance the books from time to time, sooner or later it was right that we sold a player.”

 

“However, we are now looking at a fourth year in the championship and we need to be more efficient and leaner in the off-field side of business, part of the thinking is to focus on what is essential rather than what is nice to have. Starting at year four, and maybe nearer year, we feel we do need to be more efficient.

 

“It is a relatively small number who are going – awful for those people who are affected and we feel for them – but it is a case of good housekeeping on our part.”

 

Mr Bowden also ruled out more job cuts, adding: “we have told them very clearly there will be no more jobs lost – and there won’t be, we are sorry that we had to do it but businesses do need to review and modify their structures.”

 

Source: EADT         

 

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