i have no way of knowing but i very much suspect that its true that norwich city has NEVER been debt free in its entire history. its a hell of an achievement if we can do it in this financial climate! admittedly, the club still owes money to delia and michael but this is internal debt to two fans who may or may not ever call upon it being repaid, and probably never in full. but i'm pretty proud of the club for that first bit!
Having had the tour of the ground last week, it was made pretty clear with reasons I shouldn't repeat, that a new Main/City stand will be sooner rather than later. And the way it was described, I'm sure another season of Prem football after this one would give us the financial stability to go ahead and suffer the obvious loss of revenue. I'm not a structural engineer but even the N&P still looked in very good order despite being over 30 years old.
i think it'll happen if we stay up this season. might not start immediately but i think it'll be getting the go-ahead. the capacity is bulging at the seams and i don't even think relegation would affect attendances at all. if anything, i think they'd go up!
We have a new board room at the club and this was paid for by Delia herself. She will never ask for any of that money back unless she has to sell, which isn't likely. So we will be debt free. I, along with some of the senior posters, remember the financial crisis of the 50"s when a blanket went round and people through money in it to help pay the players wages. We have had periods of misery over the years but hopefully the rest of football will follow our current model and see that you must not spend too much more vthan you have, After this close season of nearly half a billion being spent, I wonder if the financial fair play legislation will ever work?
do i think financial fair play regulations will work? sadly no. would be great if they did but i just don't see how it can to be honest. clubs will always find a way around it. i think it may help to calm things down a bit though. nice to hear about delia paying for the new boardroom - i didn't realise she'd done that. bless her, she's made some bad calls along with her husband over the years but she's always loved the club and when you love something so much its not rare that you love it a bit too much and hurt it!
Kenny bor, the debt was incurred by improving capacity at Carrow Road. The board have intimated they wish to further increase that capacity. Before that can be achieved, they have to prove to our creditors that our financial structure is capable of paying off any future loan. Paying off our current debt is proof of our good intentions for future loans. Our current financial stability is evidence of good management by the board coupled with the sound expertise of our football management.
Supers. Thank you for clarifying it. Kenny, I am not trying to stifle debate, quite the contrary. But I am in favour of raising the level of debate. A lot of often heated discussion on this board starts from nothing more than rumour, speculation, guesswork, assumption. People can debate hypothetical questions as much as they like, indeed it's often a useful exercise. But if the debate IS about a hypothetical situation and not a real one, it's important to recognise it. I could illustrate why by going onto the PinkUn forum right now and posting about how the club board has let us supporters down by choosing to pay off the debt earlier than necessary rather than use the money to bring in a top class this or that to "ensure" our survival in the Premier League etc. etc.
Redruth, do you know (or can you say, understand if you'd rather not) what a new look city stand would be like? Would it be mirror of jarrold or two tier?
