Blues are back in business
IPSWICH Town Football Club will be coming out of administration this morning.The dark cloud, which has hung over Portman Road since February 10, will be lifted.
IPSWICH Town Football Club will be coming out of administration this morning, writes Tony Garnett.
The dark cloud, which has hung over Portman Road since February 10, will be lifted.
This means that, all being well, the club will have its Football League share restored.
This will give manager Joe Royle the chance to operate in the transfer market once again.
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Of course all clubs who have been in administration have a watchful eye kept on their transactions by the Football League. There seems little chance, after what Ipswich Town has been through, that they will be tempted to overspend again.
The failure to sell a player during the January transfer window tipped Ipswich Town over the edge financially.
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At first it was estimated that the period of administration would be eight weeks. In fact it has been nearer 11 weeks with no one anticipating the extra 28-day cooling off period which has now been completed.
Chairman David Sheepshanks and Chief Executive Derek Bowden, with the assistance of other board members, have been working hard behind the scenes in this most stressful time in the club's history.
Obviously Ipswich Town still face major problems. The wage bill must be reduced and, while one or two players may leave before the start of next season, Joe Royle has his sights set on the new faces he hopes to recruit.
The sale of season tickets has already topped 10,000. Ipswich are hoping that the final hours of the discount period will push the figure up significantly. All who apply in person for season tickets by midday tomorrow will be accommodated with discounts as well as those whose applications arrive in the first post on Monday.
The exit from administration will also mean that the club can start to make plans for a general share issue, which is likely to take place in the Autumn.