Norwich City have today released its annual accounts for the financial period year ended 31 July 2020
75% of turnover into wages, but still money spent improving the facilities without significant backing it's the best we can hope for. Would have been more profit if it were not for Covid!
It makes you think what would've happened if Mcnally hadn't bought Maddisson ? His sale funded our promotion push and the subsequent TV revenue. Godfrey and Lewis keeping the wolf from the door this year. Lots of Championship clubs hemorrhaging money.
Losing money hand over fist then the bloody PFA want to sue the league 1 and 2 clubs for trying to put a salary cap in place to save the clubs when they are sitting on 50 mill reserves!
They maybe should have invested in the squad a little bit when we got promoted? I'm actually content to be a yoyo club and squirrel most of the money away and invest in youth . If the owners seriously expect to be a permanent Premier League club they must realise that we would need to strengthen the squad.
Yeah I think it is a long term project - i.e. we invest as much as possible in the youth as a way of becoming a selling club to sustain ourselves at the top level. That's a 5-10 year thing for me.
I personally don't believe any club can compete and stay in the Premier league without money bags owners willing to invest heavily in the squad. I would love to be proved wrong but we finished rock bottom last season going with what we had . I would rather bounce between the two leagues than become another play thing for foreign billionaires that don't even know where Norfolk is .
Couldn't agree more, though I am a bit more optimistic that, with a better wage build and squad position we will have more of chance the next time we go up. Seeing that eye-watering wage bill for promotion really does highlight how much was cocked up 2014-2017, from what should have been a really great foundation when Lambert got us promoted. I am also confident we were very unlucky last season. Not in games, necessarily - we had a bit of bad luck there too - more that Covid lockdown came at exactly the worst time for us, as we were gathering momentum and coming into an "easier" run of fixtures, especially critical home matches. And with the loss of crowds at home, we lost that twelfth man, which has been shown as very important in the early parts of the season so far in both the Premier League and Championship. Where your "must win" matches fall in a season does make a huge difference (though you can never quite predict how), so that was deeply unlucky. And we were also slightly unlucky in that, most seasons, one or two of the mid-table clubs from previous seasons has a total meltdown. You can see it starting this season - Sheffield U - there were hints of it in our season (Southampton) - but it never quite materialised. I get you cannot and should not rely on that sort of thing to happen, but it does happen with such regularity that a season where it doesn't happen is an outlier.
No excuses for last season. 1 goal scored 22 conceded after restart losing every game. Capitulation personified. Won 5 Drawn 6 Lost 27 Scored 26 Conceded 75
Twitter account called SwissRamble did a useful overview of the accounts. Summary graphics below: please log in to view this image please log in to view this image
