Menu

Norwich’s financial position is plummeting and now their parachute has failed

It must be nice to be Arsene Wenger, all that money but nothing to spend it on. Ever thought of charity Arsene? If you don’t want to spend £20m on a replacement for Thierry Henry you could at least give it to the local cats home, or indeed, Norwich City.

According to the BBC site Norwich’s profits have dropped from £2.4m to £100,000 and that includes £8.4m in parachute payment, which they won’t be getting next year. It doesn’t take Nick Leeson to work out that all is not well.

“We are now in an extremely challenging position,”

Norwich’s chief executive Neil Doncaster understated to the BBC.

Weren’t parachute payments meant to make the move down to the Championship a seamless financial adjustment, not just delay bankrupcy for a couple of years? Call us stupid but maybe another way of sorting out the mess would be for money to be shared a bit more fairly between all league clubs, not just the ones that were once in the Prem… We won’t be holding our breath.