Canaries fans told promotion to the Championship worth �3.7m
Ben KendallThe annual general meeting of Norwich City shareholders tonight heard that promotion to the Championship could be worth �3.7m a year.Following the re-election of the board at the Carrow Road meeting, chairman Alan Bowkett outlined the history of the club's finances over the last six years.Ben Kendall
The annual general meeting of Norwich City shareholders tonight heard that promotion to the Championship could be worth �3.7m a year.
Following the re-election of the board at the Carrow Road meeting, chairman Alan Bowkett outlined the history of the club's finances over the last six years.
He described how the club had received �19.8m from player sales over the time, but spent �19.9m on incoming transfers. The club has spent �1.4m on compensation to outgoing managers.
Loan signings have cost the club �4.8m during that time, �2.2m of that being spent in last year's relegation season during which manager Glenn Roeder was heavily criticised for his reliance on loanees.
You may also want to watch:
Mr Bowkett said: "It would not be right to say that loan players are not part of the club's future - you only have to look at the impact the likes of Darren Huckerby and Peter Crouch made in our promotion year.
But they will not have a central role going forward."
- 1 Norwich takeaway's food poisoning complaint investigation closed
- 2 Farke makes a pact with City squad
- 3 Tenants battled 'extreme mould' for months
- 4 Woman cut from car after crash on A11
- 5 City star Buendia reveals Messi's Argentina intervention
- 6 Drivers delivering for Amazon have hundreds of pounds of pay withheld
- 7 New Turkish takeaway which cooks over coals shows how kebabs should be done
- 8 Former Norwich North MP and champion of city Dr Ian Gibson dies
- 9 Pub relying on British public's resolve ahead of reopening outside space
- 10 Tributes paid to popular Avenue Middle School head who taught thousands of Norwich children
He added that the club's income had fallen following relegation to League One due to the drop in television revenue. But, if promoted this year, it could generate about �3.7m extra.
Earlier this year it was revealed that the Canaries are �23m in debt and a variety of options, including selling and leasing back Carrow Road, are being explored.
t For full reports on the shareholders' meeting, see the Evening News.