"Norwich City have announced a pre-tax loss of 20.7m for the 12-month period to the end of June. The figure is 6.3m up on the previous 12 months while annual turnover fell from 73.1m to 39.3m, reflecting the loss of Premier League parachute payments. The Canaries did, though, make a 23.2m profit on player sales, an increase of 9.8m on the figure for 2023-24."
"In the opening months of the season, we were all incredibly frustrated that some of the good work at the training centre didn't translate to results and points, and, ultimately, that is what matters most. We know that in this industry there will be highs and lows, but each and every day we always seek to make the best decision for the future of the football club, both in the short and long term."
Norwich City recorded a pre-tax loss of £20.7m for the 12 months to the end of June, up £6.3m on the previous year. Annual turnover decreased from £73.1m to £39.3m following the loss of Premier League parachute payments. Player sales generated a £23.2m profit, an increase of £9.8m on 2023-24. The reporting period included a takeover by Mark Attanasio's Norfolk FB Holdings. Norwich are positioned in the Championship relegation places early in the season, with no home wins and nine points from 14 matches. Executive director Zoe Webber and sporting director Ben Knapper stressed long-term decision-making and backing for head coach Liam Manning.
Read at www.bbc.com
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