Joe Royle admitted having mixed feelings after Ipswich Town's UEFA Cup exit at the hands of Slovan Liberec.

Jermaine Wright and Finidi George were guilty of penalty misses as the Blues crashed out 4-2 on spot-kicks. Liberec had equalised just two minutes from the end of normal time to make the aggregate score 1-1.

And Town boss Royle said: "I'm disappointed but not mortified. It's one distraction out of the way. I think it's a fine competition and I would love to have gone further.

"But I thought we were terrific on the night. Our goalkeeper didn't have one save to make until they scored.

"I've learned that there's a great spirit and togetherness in the team but we do need to start scoring goals."

Matt Holland and Darren Bent were successful from the spot but efforts by Wright and George were saved by Antonin Kinsky.

"It's hard for the two players concerned but they should be proud of their performances," added Royle. "It's a cruel way to lose."

Meanwhile, chairman David Sheepshanks has commented on the Blues' £3.3m loss in the last financial year.

He said: "The consequences of relegation have been dire with a drop in television income of about £14m.

"Relegation has caused severe financial pressures for the current season.

"However, as a result of a number of prompt and decisive actions taken by the board, the club's economy has been stabilised."

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Published Friday November 15, 2002

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