Chief executive Derek Bowden has revealed Ipswich will lose £2million next season if they do not achieve promotion to the Premier League.Jim Magilton's side currently sit one place and two points outside of the Championship play-off zone after a 1-1 draw with Sheffield United in midweek but are well placed for a promotion challenge.

Bowden told the Evening Star: "I wouldn't go as far as to say that the Premier League, with its television millions, offers unfair competition - but it is the place to be.

"We have to look up to it and admire the very strong global brand it has become. It provides everything a football club wants.

"If we were to go up next season we would sell out the ground. If we stay where we are then we can expect to lose another £2million in operations revenue."

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