Norwich City under no pressure to flog top talent
PUBLISHED: 11:45 09 May 2017 | UPDATED: 14:09 09 May 2017
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Norwich City's managing director Steve Stone insists there will be no fire sale at Carrow Road this summer.
The Canaries are poised to receive £12m less from their final parachute payment, following relegation from the Premier League in 2016, but missing out on an instant top flight return was factored into the planning.
New sporting director Stuart Webber has sanctioned the release of seven senior players, headed by John Ruddy, and any incomings will be tied to astute work in the transfer market.
“We didn’t have a pot of cash in January, we don’t have a pot of cash now so if Stuart and the head coach want to make significant changes to the squad we will have to generate cash to do that,” said Stone. “We haven’t got money sitting there we can go out and spend on players. That said, we are not forced to sell, but if we want to change it around players will need to go to bring in new ones. We are not getting in as much money but those players out of contract have gone so we are not thinking, ‘oh no we have to sell everybody.’
“We have a second and final year of parachute payments, which is roughly £12m less than the first year. The indication is we will get somewhere in the low £30ms but it is still to be finalised by the Premier League. Last year it was around £43m, £44m. It is a challenge but we knew about that when we were relegated and we have been planning our financial models accordingly.”
Stone is in bullish mood for what lies ahead after an eighth-placed Championship finish.
“It has been a frustrating season,” he said. “To finish below where we aimed for at the start of the season I would certainly class as disappointing, but because we put changes in place before the end of the season we clearly always had an eye on this summer and moving forward. We are in a good place.
“We still need a head coach on Stuart’s side of things but at Carrow Road the structure has settled down, it is organised and people know what they are doing. That was very much a result of the timing from when Jez Moxey left to unveiling the new structure.
“Both myself and Stuart see this as drawing a line under the previous season and looking forward. Stuart knows exactly what he has to work with. We talk daily, particularly at present with the head coach situation.”