The EDP says... Relegation from top tier costs Canaries
- Credit: Sonya Duncan
You could call it the ripple effect of relegation...
The punishment for dropping down a division can last for years unless a club is able to immediately bounce back into the highest tier of football.
After all, the Premier League is where the money is.
A loss of almost £20m in broadcasting revenue coupled with dwindling parachute payments highlights the chasm between the riches of the Premier League and the clubs who are vying to reach it.
Things could be a lot worse for Norwich City. An astute approach in the transfer market and keeping a tight rein on player wages has helped steady the ship.
MORE: The cost of Championship football - Norwich City accounts show loss of £2.7mEqually, they are not afraid to take a risk. Millions have been spent in the overhaul of the structure at the club, and investment has been made at Colney and in the wider community.
The adage is you have to spend money to make money. Paying off outgoing staff has allowed the club to put in place the structure and the players they believe will bring back the wealth of Premier League football.
It is a gamble, but not one made by busting the bank. A stubborn refusal not to get mired again in debt can only be the right decision.
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The board are confident they have the right manager and players in place now, and recent results are encouraging. Fans need to rally to help ensure our club is back where it belongs.