May 26 2013 Latest news:
By David Freezer
Saturday, October 20, 2012
The headline figures from Norwich City’s financial report, which the club has published today.
Norwich City announces its annual financial report today, with chairman Alan Bowkett pledging the club will be playing Premier League football next year.
Buy today’s Norwich Evening News and Eastern Daily Press for more detail and analysis of the figures.
Revenue up to £74.3m, from £23.1m in 2011.
TV revenue up to £48.5m, from £5.5m in the Championship.
Highest ever after-tax profit of £13.5m.
External debt reduced to £11.3m.
Spare £12.4m reinvested into player transfer fund for 2012-13 season.
Gate receipts and ticket sales up to £11.3m, from £8.1m back in 2011.
Staff wages rise to £29.6m, up from £16.1m in 2011.
Money owed to directors remains unchanged: Delia Smith and Michael Wynn-Jones still owed £2.1m; Michael Foulger still owed £1.4m.
Player transfers since May 31 2012 amount to £9.9m: Includes the signings of Michael Turner, Sebastian Bassong and Alexander Tettey. A maximum of £3.4m could still be due, depending on club and player performances.
In the final part of a three-part series dissecting the Canaries’ successful battle to retain their Premier League status, Norwich City writer Paddy Davitt highlights the underlying factors behind a slim goal return.