Season's loans cost Norwich City £2.5m
PUBLISHED: 09:37 08 January 2010 | UPDATED: 07:18 02 July 2010
The Canaries spent £2.5m on loan players last season, it has been revealed. Former managers Glenn Roeder and Bryan Gunn brought in 16 loanees in the year ending May 31, 2009, when the club incurred total losses of £5m.
The Canaries spent £2.5m on loan players last season, it has been revealed.
Former managers Glenn Roeder and Bryan Gunn brought in 16 loanees in the year ending May 31, 2009, when the club incurred total losses of £5m.
City also confirmed in their annual accounts that former chief executive and director Neil Doncaster received a £95,000 payment when he resigned in May as “compensation for loss of office”.
The sacking of Gunn and the departure of his assistants in August cost the club £100,000. But figures have not been made available for the cost of sacking Roeder and his management team last January.
The controversial loan policy pursued by the two previous managers was a costly exercise.
Chairman Alan Bowkett said: “The actual expenditure last year was about £2½m on loan players. So if you look at our football expenditure of £10.5m last year, £2½m went on loans.”
He added: “It's a tool and looking from the stands as I did last year, one had mixed reactions. I was delighted with Leroy (Lita) and shouted for him like anybody but you looked at some of the other loan players and thought 'You're just collecting your cheque'.
“So I think you have to rely on your football manager to make sensible choices. I know it's easy with hindsight but former managers will probably agree some of our loan players were not the most desirable on the street.”
Chief executive David McNally said he was not against loan signings if they were the right players.
He said: “Loan players can be very, very effective for football teams. Fraser Forster, as an example, has been immense for this football club and long may that continue. I think that's a clever example of how loan players can help the player, help the host club and help, in this case, Norwich City. We need to be careful about having too much of a go about loan players.”
Doncaster's golden goodbye of £95,000 was on top of last year's salary of £185,000 - as the only director who was also a club employee.
The compensation figure for Gunn's team - assistant boss Ian Butterworth and chief scout John Deehan also left in August - was listed in notes to the annual report, but Roeder's severance payment was not itemised.
Bowkett said: "I'm not aware what the severance was and I have to say I was not a director at the time."
City also revealed that they plan season ticket price increases for 2010/11.
Average cost of a season ticket was £260 to £270 in 2008/09, but down to £210 to £215 this season.
“Clearly if we are promoted we will be looking to put prices up, to put money into football," said McNally.