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Norwich City Post £13.5m Profit

Mon 22nd Oct 2012 | Money & Finance

Norwich City Football Club have posted a profit of £13.5m for the financial year ending May 31, 2012. 

The Canaries, now in their second season back in the Premier League, posted an increase in revenue up to £74.3m (£23.1m in 2011), £48.5m of which was attributed to Premier League TV money compared to the £5.5m they received in the Championship.

The club also posted significant increases to commercial income as a result of playing it the Premier League with Chairman Alan Bowkett commenting: “This is a pleasing set of financial results which is yet another step in the direction of us achieving our objective of becoming an established, self-sustaining Premier League club.”

Norwich’s external debt was reduced to £11.3m (£16.6m 2011) and are expecting that to be further reduced by circa £10m leaving the club externally debt-free by the end of the season other than for working capital requirements.













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 Key actions taken in the club within the last 12 months include:

- Further disposal of non-core property assets

- Continuing reduction of external debt

- Significantly improved commercial performance across all areas of the business

- Achieved retention of Premier League status for the 2012/13 season

- Replaced football management team and backroom staff for 2012/13 season

- Recruited 11 new players into the squad for the 2012/13 season (2 in January transfer window, 9 in summer transfer window) and renewed contracts of several senior players

- All spare cash reinvested in football at the appropriate time, including during the last transfer window

- Committed to achieving Category 1 status under the new Premier League Elite Player Performance Plan for successful development of young talent

Posted by: Aaron Gourley




If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk

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