Norwich promise to bounce into profit in 2020 after massive loss
5 November 2019
COO Ben Kensell talks to offthepitch.com about club’s latest annual accounts.
End of parachute payments hits club in challenging year but promotion secures Premier League revenues and picture looks rosy for next year.
Club is maintaining prudent approach after financial mistakes of the past.
Norwich City’s chief operating officer Ben Kensell says the club will "stick to the plan", despite posting a £38 million operating loss.
The club’s annual accounts to June 2019 released today underscored the costs of securing promotion to the Premier League; 2018-19 was the club’s first in eight years without any parachute payments from the EPL. Turnover plummeted from £61.7 million in 2018 to £33.7 million.
Do you want to read this article?
Get instant access by signing up for a 14-day free Premium trial
No credit card, no commitments and it will expire automatically.
You will receive a link that activates your trial in an email.
Already a standard subscriber? Upgrade here