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RvWs 4 year contract

Are we now *externally* debt free?

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Having a discussion with a friend of mine about football finances and as part of the discussion I said "if you dont include the money that the football club owes (only if they call in the debt which is unlikely), to Delia and MWJ, Norwich City are debt free".Is this factually correct or not?

I also saw on: " http://news.sky.com/story/1100132/football-finance-premier-league-wages-up-9-percent" that our wages are less than 50% of revenue" which is really good news.

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I think Purple will be your nest person to answer this, but if I remember rightly, I believe we will be by October this year... So almost!

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[quote user="Grant Holts 3 year contract"]Having a discussion with a friend of mine about football finances and as part of the discussion I said "if you dont include the money that the football club owes (only if they call in the debt which is unlikely), to Delia and MWJ, Norwich City are debt free".Is this factually correct or not?

I also saw on: " http://news.sky.com/story/1100132/football-finance-premier-league-wages-up-9-percent" that our wages are less than 50% of revenue" which is really good news. [/quote]

 

We have to be free of external debt by October of this year. We may have already paid all of it off. As to those Premier League figures, they are for the 2011-12 season, not the season just gone, and we were just - only just - under 50 per cent. My guess is that we would be above 50 for this last season.

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[quote user="PurpleCanary"]

[quote user="Grant Holts 3 year contract"]Having a discussion with a friend of mine about football finances and as part of the discussion I said "if you dont include the money that the football club owes (only if they call in the debt which is unlikely), to Delia and MWJ, Norwich City are debt free".Is this factually correct or not?

I also saw on: " http://news.sky.com/story/1100132/football-finance-premier-league-wages-up-9-percent" that our wages are less than 50% of revenue" which is really good news. [/quote]

 

We have to be free of external debt by October of this year. We may have already paid all of it off. As to those Premier League figures, they are for the 2011-12 season, not the season just gone, and we were just - only just - under 50 per cent. My guess is that we would be above 50 for this last season.

[/quote]Thanks PC [Y]

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I took a tour around Carrow Road before the Swansea game and the tour guide told us that we paid the final cheque on the Tuesday before the game.

As you mentioned, we still owe money to Delia and MJW but they haven''t asked for a penny back as of yet.

Great work by the board for paying that back. From the brink of administration to debt free in 4 years is unbelievable!

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I guess we''ll have a load stashed away too in the bank should we wish to use it. I wonder if it''s worth gambling a bit and not spending too much this summer. In the main, our team is good enough, we''ve got a goalscorer in already, maybe now a bit more depth and some pace.

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In regards to the money we owe Delia and MWJ, I was certain that all the money they lent the club was turned in to shares, meaning we don''t owe them anything near what they''ve lent us.

Guessing we''ve paid the Turners now and we possibly owe Foulger money

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This financial security is a first for NCFC in my living memory. In some way or other we have always had to watch the pennies, from selling our best to avoiding administration narrowly.

 

One would hope that a fixed amount each year will be deposited, earning interest and kept ready for a rainy day.

 

The rest remains for running costs/wages and signings and allocated accordingly. The elephant in the boardroom is, of course, ground expansion.

 

Financial management is a lot easier when in the black than in the red. 

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Swansea fans are going through the same thing. Do we stick or twist, knowing we have both done well to get mid table premiership places.

The problem is, the gap to the next few places is massive! Laudrup rightly states you would more than likely need £200m to reach europe places via the league on a regular basis.

I think the hunt for bargains will continue. There are a lot of very average players out there costing £15m-£20m these days.

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