Ipswich 'might sell players'

Mr Sheepshanks hopes cost-cutting steps will pay off

The chairman of Ipswich Town has warned the club may have to sell players if it fails to win promotion to the Premiership.

Speaking at the club's annual general meeting on Thursday, David Sheepshanks told shareholders that relegation in May had been a severe blow.

The club has debts of about £30m - much of which went to pay for two new stands.

Mr Sheepshanks said: "I cannot rule out player sales - as I doubt, in the current climate, can any non-Premiership club."

'Joke bid'

He said the situation highlighted a crisis in football, with a "crippling gap" between Premiership clubs and others.

He added he hoped that steps already taken to cut costs would mean the club would not be forced to accept a "joke bid".

Shareholder Brian Pinner welcomed Mr Sheepshanks' cautious approach.

"I don't expect us to get promotion this year.

Transfer window

"I hoped that we would, but what I want to see is the club accept it's unlikely and I want to see them ensure the future of the club."

Mr Sheepshanks' comments came after speculation that other clubs were expressing an interest in players such as Darren Bent and Darren Ambrose.

A spokesman for the club told BBC Sport Online: "We are not in a situation where we will be forced to sell players the second the transfer window reopens."