Norwich City's annual accounts for the 2023/24 campaign have revealed a £14.4m pre-tax loss and display the levels of funding Mark Attanasio's group have offered the club. The Canaries officially published their annual report on Friday morning with the numbers presenting the realities of the club's financial position outside of the top flight and in the final campaign of parachute payments following relegation from the Premier League in 2022. It represents a further shift in funding, with Attanasio's group increasing their financial input into the club to help retain a sound footing amid another year of Championship football. City reported a £2.5m drop in revenue compared to the 2022/23 report, from £75.6m to £73.1m. The drop was aided in part by a prolonged FA Cup run that included a televised fourth-round tie against Liverpool, as well as growth in ticketing, sponsorship, and advertising income
Now that Man city crushed the Premier League's inflated sponsorship rules I am looking forward to a giant sponsorship from our American backers starting next year!
Except that we wouldn't get away with it. Has to be an elite top 6 team. A £14.3m loss isn't bad considering our seemingly dire situation last season, so the Attanasio group investment must be significant.
The key factor might be how much of the debt owed to the Attanasio group gets converted into shares: "City are expecting further improvement of their balance sheet following the aforementioned sales (£30.1m from the sales of Sara, Kamara, Idah and Tzolis) alongside the conversion of the debt owed to Attanasio's group into shares ahead of the American-based becoming majority shareholders."
What product have they got to justify giant sponsorship? Their initial sole aim, in my opinion, was to make the Club self sufficient within 24 to 36 months. My initial view on the latest figures is one of pleasing progress and signs that they might achieve that within 12 to 24 months although the 12 months target might require the sale of a player and the replacement coming from the loan market. We must always bear in mind that to American owners sport is a business and an investment not a hobby or a charity. Keep an eye on the share dividend in a couple of years time!!
Take out the 'letsby avenue' embarrassment and the whole rollercoaster ride shown on that reel is a bit of a tear-jerker actually. God bless 'em both.
Erik ten Hag has been sacked as Manchester United manager. The club confirmed the news in a statement on their official website on Monday morning. Ruud van Nistelrooy, who was appointed as one of Ten Hag’s assistants in the summer, has been placed in temporary charge as interim head coach until a permanent replacement is found. Ten Hag’s dismissal comes just 115 days since United opted to extend his contract by 12 months after the club’s hierarchy decided against sacking him in the wake of a two-and-a-half internal review and conversations with at least six other managers.
It gets worse for McLean: "Kenny McLean has been charged by the FA following his sending off in Norwich City's 3-3 draw against Middlesbrough on Sunday. The FA allege that the Scottish international 'acted in an improper manner and/or used abusive and/or insulting words towards a match official around the 87th minute after being sent off. McLean has been given a deadline of Friday to respond, but sanctions could include a further suspension from playing and/or a fine." https://www.pinkun.com/sport/norwic...mclean-hit-fa-charge-middlesbrough-dismissal/
Not Sainz with his fiery temper or drink drive Duffy then! Maybe Sargent, Gunn or potentially Cordoba.
