Ipswich record £155m turnover for Premier League season

Ipswich Town have announced turnover of £155m for their season in the Premier League in 2024-25, an increase of £118m on the previous 12 months.

Town made an operating profit of £4m in the year to the end of June 2025, compared to a loss of £39.3m in 2023-24.

Wage costs for their first season in the top flight for more than 20 years soared from £44.5m to £77.1m, but the club's annual report said they had generated "record revenues from all income streams".

The report continued: "The overall increases in revenue offset the increase in the cost base, resulting in the club achieving a profit in the period.

"Whilst this is welcomed, it is noted this was not the intention at the beginning of the season, and only resulted from the sale of playing assets and a reduction in performance based bonuses versus budget.

"The intention at the start of the season was to invest strongly in the squad, with £112.8m of acquisitions in the year, whilst remaining within the limits of FFP [Financial Fair Play]."

Ipswich's stay in the Premier League lasted only one season, and they were relegated back to the Championship in May 2025.

In that period, new signings included current captain Dara O'Shea and forwards Jack Clarke, Sam Szmodics and Jaden Philogene, but overall the club made a £15.4 profit on transfer activity.

Town have bounced back strongly on the pitch under head coach Kieran McKenna this season and are again pushing for promotion.

The Tractor Boys are currently in third place ahead of Monday's home game against Birmingham City, just two points adrift of Middlesbrough in second - and they have a game in hand.

By Graeme McLoughlin, BBC Radio Suffolk sports editor

It is clear looking at these figures that money does not get you everything, as spending more than an additional £30m on players' wages led to four league wins for Ipswich Town in the Premier League, compared with 28 in the Championship the previous season.

Granted, it was a different ball game at the higher level, and since relegation, Town's wage bill is likely to have come down following the departures of a few high-profile players including Liam Delap and Omari Hutchinson.

There are still significant outgoings though, and with far less money coming in at the moment from televised game income (it was more than 10 times higher in the Premier League), you can see why returning to the top flight is of paramount importance to Town's American owners.