Steve Stone on backing Daniel Farke in the transfer market and reaction to Josh Murphy exit
PUBLISHED: 18:16 15 June 2018 | UPDATED: 19:05 15 June 2018
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Daniel Farke will get some of the windfall from Josh Murphy's sale to bolster Norwich City's squad.
The Canaries have a major hole to plug on the balance sheet, following the end of parachute payments, but Murphy’s exit to Cardiff City this week will not be the last departure.
James Maddison is tipped to follow him out of Carrow Road, although Norwich have also brought in Emi Buendia and managing director Steve Stone is adamant the club’s top brass will back Farke and Stuart Webber.
“It has been well-documented by me and Stuart that there is a financial gap to close this summer,” said Stone. “Of course when you look at headline numbers from a sale that is not the time when all the cash comes in.
“That is true for deals in the past and remains true now. It is not simply the case we sell a player for X amount and that same amount is available to re-invest. What I would say is we are certainly looking at re-investing some of the funds from any players who depart this summer.
“Buendia was done a long time ago, in terms of a pre-deal.
“That was us planning in advance.
“Josh Murphy was, in my view, a very good deal and it was in line with the sale of his brother a year before. We are early in the window and there is a long time to go.
“I wouldn’t expect it to be anywhere near the turnover of last summer, because we have got the nucleus of a decent squad in my view. Obviously it is Stuart Webber’s view that is more important than mine in this area.
“However, I don’t expect there to be as many changes given we put a whole new structure in place, including a new head coach.”
Stone has watched the deteriorating financial situation at Aston Villa like the rest of football with Villa reportedly facing drastic cost-cutting measures after missing out on promotion.
“My own personal view is that I am a big believer in the self-sustainable model because that is my background in business,” he said. “Football is slightly different and people have the right to gamble on trying to get to the Premier League.
“I don’t know the specifics of what is happening at Villa but they are not the only club in the Championship chasing the Premier League dream. Only three can ever go up each year and that leaves a lot of disappointed clubs, whether they have invested huge sums or not.
“For the long term security and safety of a club I always believe you have to live within your means.
“You don’t want to be too conservative but at the same time too rash. That is what we try to do here. I wouldn’t want to be in that lottery situation.”