Positive future for Norwich City FC outlined at AGM

A successful future for the Canaries was outlined at a packed annual general meeting at Carrow Road tonight.

Fans were told that revenue was expected to increase �41m this year with an anticipated operating profit after tax of �18m.

Club bosses said that they would look to improve the squad during every transfer window and would remain a buying club.

The club is also looking at increasing the stadium capacity to 35,000 spectators.

Chief executive David McNally said the main aims were to stay in the Premier League, keep hold of manager Paul Lambert, but to remain solvent.

TV money this year will rise to �38m, the meeting was told, but chairman Alan Bowkett said that did not mean that the club would be 'rolling in money'.

He said that every penny from the TV funds was already accounted for, and that money would be used to pay off the club's debt, although he said that dividends would be paid to shareholders in September next year.

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The club is also setting up a Premier League scouting network to ensure it can get the best young talent available, and would be embracing the wider Norfolk community in the future.

And while Mr Bowkett admitted that the club would never be in the same financial league as big-spenders Manchester City, Chelsea and Manchester United, he said the club was still in a healthy financial position.

And fans, who were attending the first AGM after the club was promoted back to the Premier League, left the meeting feeling positive about the future.

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