Foulger: We don't need to sell any star names
Chris LakeyCanaries director Michael Foulger says there will be no enforced sales at Carrow Road during the January transfer window. Foulger, who personally funded Grant Holt's �400,000 move to City in the summer, says the City board are helping manager Paul Lambert as best they can, despite a debt that has risen to �23m.Chris Lakey
Canaries director Michael Foulger says there will be no enforced sales at Carrow Road during the January transfer window.
Foulger, who personally funded Grant Holt's �400,000 move to City in the summer, says the City board are helping manager Paul Lambert as best they can, despite a debt that has risen to �23m.
"There is no need for us to sell any players this January," said Foulger on an official club web chat yesterday.
"We are of course helping Paul as best we can, as we attempt to get back to the Championship - particularly with our current league standing.
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"But our budget does reflect that of a League One club. Of course we take our debt position very seriously and are working to reduce it - but we are not alone in this. Most clubs in the country are struggling with debt unfortunately."
Lambert has made little use of the loan system, which has been blamed for contributing to a loss of �5m last season when the board sanctioned multiple entries into the market for temporary signings.
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"The point about the reliance on the loan system last season is certainly something we've taken on board," added Foulger. "Loan signings didn't work and I support Paul's preference to sign players that are our players. Having said that, you'd never rule out making a loan signing of a quality player if it would improve the squad.
"Paul and his team have done a fantastic job with the playing squad, and are winning games by playing good football. I'm personally very impressed by his professionalism working with the board and hope his good run so far continues."
Foulger was involved in the controversial pound for pound promise to season ticket holders - pledging to match whatever money wasn't reclaimed by way of a rebate following relegation.
Part of that sum went towards bringing in Holt from Shrewsbury - a deal which is paying huge dividends.
"I was personally very happy to make my gift for the season ticket rebate which obviously enabled the club to sign Grant Holt - and like all of us I'm delighted to see how well Grant has done since joining us," he said. "I look forward to continuing to support the club whenever possible.