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Can't see anything about this here, but this little snippet looks highly indicative (if true):

Norwich City have taken out a loan from Barclays secured on outstanding TV money due from present season and amounts guaranteed from Premier League for 2019/20. 'Looks as if they’re preparing their transfer pot for the summer nice and early,' observes Kieran Maguire of the PriceofFootball.

https://footballeconomyv2.blogspot.com/2019/05/canaries-build-their-transfer-pot.html

 

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Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

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I think I read somewhere that the first chunk of TV money doesn't come in until September. I'd imagine pretty much all promoted clubs take out a loan like this. Interest will obviously be added on top so goes along with what Webber said about the PL money being a lot more complicated than just getting a quick 100m injection of cash into the club. I doubt the loan is huge anyway, as all transfers are paid in installments it's probably just enough to cover bonuses, promotion based add ons and the first couple of installments of transfer fees for incomings this summer. Prob around 10-15 mil maybe. 

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46 minutes ago, Bill said:

Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

Says the person who commented on the Tim Klose thread and then started his  ‘will Klose stay?’ Thread shortly after! 

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1 hour ago, Bill said:

Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

Whatever would us mere mortals do without you Bill? 😇

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1 hour ago, Bill said:

Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

Nobody said it was difficult..

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15 hours ago, Bill said:

Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

The point is that we've committed ourselves to such a loan at an unusually early stage. This, as well as our general approach to promotion, seems to have impressed some supporters of another PL club:

https://www.themag.co.uk/2019/05/norwich-city-ambitious-early-planning-exposes-ridiculous-newcastle-united-situation/

 

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22 minutes ago, ron obvious said:

The point is that we've committed ourselves to such a loan at an unusually early stage. This, as well as our general approach to promotion, seems to have impressed some supporters of another PL club:

https://www.themag.co.uk/2019/05/norwich-city-ambitious-early-planning-exposes-ridiculous-newcastle-united-situation/

 

It’s pretty normal practice to be honest. Some clubs take loans to cover it, so clubs have wealthy owners who will cover it.

Promotion is expensive in the short term. Bonuses to pay, wage increases, transfer clauses triggered, VAR to install etc. That’s before any incoming transfers are even considered. 

Norwich have the extra burden of the Canary Bond and the £7m(ish) they will be paying back to supporters. 

Luckily once the TV money starts rolling in then those upfront costs are soon forgotten about. 

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Trust Bethnal to help demystify matters.

With BY&G on 'football business', Purple on finances and Parma on tactics - have always thought we are very well served on this message board

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4 minutes ago, GenerationA47 said:

Trust Bethnal to help demystify matters.

With BY&G on 'football business', Purple on finances and Parma on tactics - have always thought we are very well served on this message board

And two of those actually know what they're talking about!🏖️🍸🍹

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MB made a point which is quite indicative. That our revenue for the entirety of the 2018/19 season will be around £30 million. Our first season since 2010/11 where we haven't had any Prem revenue or parachute payments.

So, by the end of the 2019/20 season our finances will likely look better and we'd be able to potentially spend more on signing individuals should we retain our position in the Prem.

Prudence with ambition... that has actually worked under the stewardship of Webber et al.

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13 minutes ago, BobLoz3 said:

MB made a point which is quite indicative. That our revenue for the entirety of the 2018/19 season will be around £30 million. Our first season since 2010/11 where we haven't had any Prem revenue or parachute payments.

So, by the end of the 2019/20 season our finances will likely look better and we'd be able to potentially spend more on signing individuals should we retain our position in the Prem.

Prudence with ambition... that has actually worked under the stewardship of Webber et al.

That feeds into Bethal's comments - likelihood is that the club ran at a big loss last season (factoring in the items he mentions) and the loan is covering the impact on cashflow

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1 hour ago, GenerationA47 said:

Trust Bethnal to help demystify matters.

With BY&G on 'football business', Purple on finances and Parma on tactics - have always thought we are very well served on this message board

So long as he isn't comparing Norwich and Sheff Utd's respective outgoings for player signings 😉 

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The real question here is why on earth the TV companies don't cough up earlier. The Premier League should have insisted on the money being paid on 1 June. It's an expense we have to incur in order to compete but it could have been avoided if the Premier League had considered the financial position of promoted clubs. A conspiracy theorist would probably think that the Premier League don't want irritating little teams joining their club. Those little clubs are so annoying, especially Leicester City.....

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8 minutes ago, dylanisabaddog said:

The real question here is why on earth the TV companies don't cough up earlier. The Premier League should have insisted on the money being paid on 1 June. It's an expense we have to incur in order to compete but it could have been avoided if the Premier League had considered the financial position of promoted clubs. A conspiracy theorist would probably think that the Premier League don't want irritating little teams joining their club. Those little clubs are so annoying, especially Leicester City.....

The TV companies pay a lot of money. Better to get a big amount spread across the season than a smaller amount. As the OP shows it is very easy for clubs to take measures that allow them access to finance. Norwich have basically asked for a larger overdraft from Barclays to cover the couple of months where they will be in deficit. 

The Premier League is actually one of the fairest in Europe (although rule changes have been approved to alter that a bit). Many leagues allow each club to negotiate their own tv deals - imagine how little of the pie Norwich would receive compared Liverpool or Man City if that was the case. 

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The problem with such so-called bridging loans is that they can be very expensive.

I hate to think just what the cost amounts to for the millions involved even for a shortish period.

I hope they stash it away in an interest accumulating account until it is spent.

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30 minutes ago, BroadstairsR said:

The problem with such so-called bridging loans is that they can be very expensive.

I hate to think just what the cost amounts to for the millions involved even for a shortish period.

I hope they stash it away in an interest accumulating account until it is spent.

It’s secured against our payments and therefore very safe for Barclays. As secured Barclays will get paid before we see the money so will be a very low rate.

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22 hours ago, Bill said:

Indicative of how money works.

Let me explain

Norwich City will be making player signings funded by TV money. The first tranche of which will not arrive before the first of the instalments on those signings need to be made.

To cover that they will undoubtedly arrange what's called a bridging loan. A loan that is given on the basis that it is a short tem loan that can be quickly repaid.

Not that difficult is it ?

Do you remember when you said it was pointless selling Naismith, Lafferty or anyone to get them off the wage bill because you thought we'd have to subsidise the difference in wages at their new club?

Do you remember shouting everyone down for pages on end before realising your idiocy and changing your story?

Maybe you should think about this before talking to others like such a ****.

Edited by Hank shoots Skyler

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2 hours ago, BigFish said:

That feeds into Bethal's comments - likelihood is that the club ran at a big loss last season (factoring in the items he mentions) and the loan is covering the impact on cashflow

https://www.canaries.co.uk/News/2018/october/norwich-city-annual-accounts/

"As at June 30, 2018 there was no external debt with a cash balance of £16.1m at the end of the financial year. The Club anticipates a negative cash position by the end of this calendar year. "

Some of the fag packet accountants on here believed we would have a a hole of £5-6 million at the end of the season, necessitating a player sale if we hadn't gone up.

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