| Norwich not out of the financial woe yet - £10m tax bill on the way 08:32 - Oct 24 with 7253 views | ElderGrizzly |
Very honest assessment by Ed Balls on the news this morning. Transfers in the summer saved them, but it was only a temporary fix.
£10m tax bill on the way and Delia insisting they must be self sufficient
http://www.edp24.co.uk/news/norwich-city-reveals-accounts-for-2018-1-5749099
To be clear, not a dig at Norwich, but shows how even a well run club can almost go bust after a short spell in the PL [Post edited 24 Oct 2018 8:38]
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:38 - Oct 24 with 5455 views | Reuser_is_God |
Oh well, I’m sure when they get promoted in May they’ll have enough to cover it. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:44 - Oct 24 with 5422 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:38 - Oct 24 by Reuser_is_God |
Oh well, I’m sure when they get promoted in May they’ll have enough to cover it. |
Yep, that’s normally how it goes for us and our luck.
£32m drop in income this season, plus a £10m tax bill means they need to find a significant sum from somewhere. Majority of Madisson money has already been accounted for in accounts published | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:58 - Oct 24 with 5340 views | hype313 |
If we're honest, both us and Norwich will end up in League One if neither get promoted, whilst it's admirable playing youth, as each season passes by, more teams come down with parachutes it gets harder and harder to compete, as we are finding out.
The only way out of this league is to have significant investment, even Derby have had to spend huge sums just to stand still, it's no wonder we are bottom. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:02 - Oct 24 with 5305 views | christiand |
We can't beat them on the pitch, so off the pitch is our only hope it seems. Just embarrassing really. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:04 - Oct 24 with 5298 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:58 - Oct 24 by hype313 |
If we're honest, both us and Norwich will end up in League One if neither get promoted, whilst it's admirable playing youth, as each season passes by, more teams come down with parachutes it gets harder and harder to compete, as we are finding out.
The only way out of this league is to have significant investment, even Derby have had to spend huge sums just to stand still, it's no wonder we are bottom. |
Agree. Norwich having to deal with a £32m drop in income, plus a £10m tax bill just this season.
A £42m down turn, with majority of Madisson money already accounted for and spent.
Delia saying they need to be self-sufficient too, is a big deal for them. Evans is maybe moving towards that model for us, but at least he ‘can’ fund a £6m black hole. Delia can’t without getting external loans/funding.
All very depressing how much money from the PL is distorting our league and arguably the leagues below too to a degree | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:11 - Oct 24 with 5244 views | Harry_Palmer |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:04 - Oct 24 by ElderGrizzly |
Agree. Norwich having to deal with a £32m drop in income, plus a £10m tax bill just this season.
A £42m down turn, with majority of Madisson money already accounted for and spent.
Delia saying they need to be self-sufficient too, is a big deal for them. Evans is maybe moving towards that model for us, but at least he ‘can’ fund a £6m black hole. Delia can’t without getting external loans/funding.
All very depressing how much money from the PL is distorting our league and arguably the leagues below too to a degree |
You wait, just as they are on the brink of financial collapse they will announce a takeover or 'significant' investment to clear debts and provide funds to boost the playing squad.
It just seems to be how football karma is working currently,i'm not sure what we have done wrong but somebody up there doesn't like us very much. |  | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:21 - Oct 24 with 5155 views | PrideOfTheEast |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:04 - Oct 24 by ElderGrizzly |
Agree. Norwich having to deal with a £32m drop in income, plus a £10m tax bill just this season.
A £42m down turn, with majority of Madisson money already accounted for and spent.
Delia saying they need to be self-sufficient too, is a big deal for them. Evans is maybe moving towards that model for us, but at least he ‘can’ fund a £6m black hole. Delia can’t without getting external loans/funding.
All very depressing how much money from the PL is distorting our league and arguably the leagues below too to a degree |
Yes, crazy isn't it. Think this has been discussed on here before but if they don't go up this year they are in trouble.
Although I suppose they've got a few more kids that they'll be able to move on to plug the gap? At some point they're going to have to get outside investment. | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:28 - Oct 24 with 5124 views | Freddies_Ears |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:21 - Oct 24 by PrideOfTheEast |
Yes, crazy isn't it. Think this has been discussed on here before but if they don't go up this year they are in trouble.
Although I suppose they've got a few more kids that they'll be able to move on to plug the gap? At some point they're going to have to get outside investment. |
Don't think they have another Maddison coming through, but they look well placed to build next year's team on proven, experienced pros plus several youngsters.
We could have been in the same position, this year. | | | |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:31 - Oct 24 with 5107 views | itfcjoe |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:21 - Oct 24 by PrideOfTheEast |
Yes, crazy isn't it. Think this has been discussed on here before but if they don't go up this year they are in trouble.
Although I suppose they've got a few more kids that they'll be able to move on to plug the gap? At some point they're going to have to get outside investment. |
Selling youngsters to fill the gap every season won't be sustainable as they are effectively just chasing their tail.
I do think Farke did very well last season, in what was a poor season, in showcasing Maddison's talents and getting him that big move and high value. Everything in the team went through him, and he had so much opportunity to impress and at some points looked at the expense of the team. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:32 - Oct 24 with 5094 views | GeoffSentence |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:11 - Oct 24 by Harry_Palmer |
You wait, just as they are on the brink of financial collapse they will announce a takeover or 'significant' investment to clear debts and provide funds to boost the playing squad.
It just seems to be how football karma is working currently,i'm not sure what we have done wrong but somebody up there doesn't like us very much. |
We had far too much success for a club of our size in the 70's and early eighties. The universe is seeking balance. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:34 - Oct 24 with 5087 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:28 - Oct 24 by Freddies_Ears |
Don't think they have another Maddison coming through, but they look well placed to build next year's team on proven, experienced pros plus several youngsters.
We could have been in the same position, this year. |
Problem is with a gap that size to fill and no external investment, they won’t be able to keep the more expensive, experienced players.
In context, they’ll need to sell 7 or 8 Waghorn type players/value to just break even. | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:34 - Oct 24 with 5079 views | itfcjoe |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:28 - Oct 24 by Freddies_Ears |
Don't think they have another Maddison coming through, but they look well placed to build next year's team on proven, experienced pros plus several youngsters.
We could have been in the same position, this year. |
That is the most frustrating thing, it's absolutely sickening what has happened here when a small amount of targetted recruitment could have sorted us out | |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:35 - Oct 24 with 5070 views | PrideOfTheEast |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:31 - Oct 24 by itfcjoe |
Selling youngsters to fill the gap every season won't be sustainable as they are effectively just chasing their tail.
I do think Farke did very well last season, in what was a poor season, in showcasing Maddison's talents and getting him that big move and high value. Everything in the team went through him, and he had so much opportunity to impress and at some points looked at the expense of the team. |
After the draw with us, word was that he had a small number of games (perhaps 'til about now) to turn it around or he was gone. They've done very well since but can't see them going up. | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:37 - Oct 24 with 5049 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:31 - Oct 24 by itfcjoe |
Selling youngsters to fill the gap every season won't be sustainable as they are effectively just chasing their tail.
I do think Farke did very well last season, in what was a poor season, in showcasing Maddison's talents and getting him that big move and high value. Everything in the team went through him, and he had so much opportunity to impress and at some points looked at the expense of the team. |
And they simply don’t have youngsters worth £42m to sell. Huge wage bill reductions or sales required just to break even this season, then it starts again for them.
Big season for both of us for very different reasons. If they don’t get up, they are in trouble. If we go down we are in trouble.
Our onky saving grace is Evans can fund a shortfall, Delia can’t. All a bit sh!t really if you aren’t a top 6 PL club. The rest is about survival | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:40 - Oct 24 with 5021 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:34 - Oct 24 by itfcjoe |
That is the most frustrating thing, it's absolutely sickening what has happened here when a small amount of targetted recruitment could have sorted us out |
Agree, but if Hurst is to be believed, all those ‘big’ players who left demanded to leave.
I know there is some doubt in that, but we’ve just had too much change, with too many stepping up, and that includes a manager simply drowning in change of his own making and change imposed by player demands | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:42 - Oct 24 with 5005 views | itfcjoe |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:35 - Oct 24 by PrideOfTheEast |
After the draw with us, word was that he had a small number of games (perhaps 'til about now) to turn it around or he was gone. They've done very well since but can't see them going up. |
Was speaking about this with someone the other day, and if you break league down into Top 8, middle 8 and bottom 8 there recent results, and way they have strung wins together in 3 game weeks, plus in tough games and they are looking like a top 8 team | |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:44 - Oct 24 with 4989 views | Harry_Palmer |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:32 - Oct 24 by GeoffSentence |
We had far too much success for a club of our size in the 70's and early eighties. The universe is seeking balance. |
Probably, but someone needs to have a word, it's going too far the other way now! | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:45 - Oct 24 with 4984 views | Mullet |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:35 - Oct 24 by PrideOfTheEast |
After the draw with us, word was that he had a small number of games (perhaps 'til about now) to turn it around or he was gone. They've done very well since but can't see them going up. |
Reminds me of Brizzle City in the last few years looking at their manager/squad/attitude etc. I really wouldn't be surprised to see similar streakiness especially as Farke doesn't react well to things going wrong seemingly. Like a random tactical switch etc.
I think relying on them to not burn down a stand or Brum to get a points deduction is a sh1t state of affairs though. I'd hope we'd have more about our season than that. |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:58 - Oct 24 with 4915 views | Bent_double |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:32 - Oct 24 by GeoffSentence |
We had far too much success for a club of our size in the 70's and early eighties. The universe is seeking balance. |
I was just thinking this the other day.
If you forget the 60's and 70's (not going to include the 80's as things started going downhill very early on in the decade), then what would we be - a small club with very little success, probably having spent the last few decades bumping around leagues 1 and 2.
As you say, maybe this is finally the time to redress the balance.  |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 10:21 - Oct 24 with 4806 views | Nthsuffolkblue |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:58 - Oct 24 by Bent_double |
I was just thinking this the other day.
If you forget the 60's and 70's (not going to include the 80's as things started going downhill very early on in the decade), then what would we be - a small club with very little success, probably having spent the last few decades bumping around leagues 1 and 2.
As you say, maybe this is finally the time to redress the balance. |
Surely, to redress the balance we are heading non-league or are you suggesting Norwich will win the Premier League, the FA Cup and the Europa Cup? |  |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 10:36 - Oct 24 with 4730 views | No9 |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 08:58 - Oct 24 by hype313 |
If we're honest, both us and Norwich will end up in League One if neither get promoted, whilst it's admirable playing youth, as each season passes by, more teams come down with parachutes it gets harder and harder to compete, as we are finding out.
The only way out of this league is to have significant investment, even Derby have had to spend huge sums just to stand still, it's no wonder we are bottom. |
It begs the question as to whether or no small Town teams in low wage areas can do better then the lower divisions | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 10:45 - Oct 24 with 4683 views | Bent_double |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 10:21 - Oct 24 by Nthsuffolkblue |
Surely, to redress the balance we are heading non-league or are you suggesting Norwich will win the Premier League, the FA Cup and the Europa Cup? |
Good god no!
Well, I hope not anyway - they are no different to us in the 3 or 4 decades - obviously our history prior to that puts us waaaaay above them overall.
The trouble is, they seem to keep getting lucky, whereas we keep on getting decisions wrong. By 'we', I mean ME, of course. | |
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| Norwich not out of the financial woe yet - £10m tax bill on the way on 13:25 - Oct 24 with 4327 views | mrtea |
Right , first off I am a Budgie so lets get that out of the way.
The problem with our financial results is a problem for footy in general , not just us. Yes we have managed our way around it by selling but my point is it is a shame that any club has to do that.
Put yourself in the position of a small club that has been well managed and found some good lads and worked their way up the leagues only to have sell just to stay afloat. Not profit but to stay afloat.
And that's my problem with football nowadays. You either have stupid reach owners At best clubs like us , and i'll include clubs that can have 20 plus thousand in the gates will not be able to self fund with out selling their best players .
Im not a fan of the prem and would happily stay in this league just with better money for all around. | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 14:28 - Oct 24 with 4119 views | ElderGrizzly |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 13:25 - Oct 24 by mrtea |
Right , first off I am a Budgie so lets get that out of the way.
The problem with our financial results is a problem for footy in general , not just us. Yes we have managed our way around it by selling but my point is it is a shame that any club has to do that.
Put yourself in the position of a small club that has been well managed and found some good lads and worked their way up the leagues only to have sell just to stay afloat. Not profit but to stay afloat.
And that's my problem with football nowadays. You either have stupid reach owners At best clubs like us , and i'll include clubs that can have 20 plus thousand in the gates will not be able to self fund with out selling their best players .
Im not a fan of the prem and would happily stay in this league just with better money for all around. |
Completely agree and glad you saw this not as a dig at your club.
If ‘competing’ means we need to jeapordise or risk future of any club by losing £20m+ a season, just to try and compete with parachute payment clubs then something is badly broken. | | | |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 14:33 - Oct 24 with 4082 views | Dennyx4 |
| Norwich not out of the financial woe yet - £10m tax bill on the way on 09:37 - Oct 24 by ElderGrizzly |
And they simply don’t have youngsters worth £42m to sell. Huge wage bill reductions or sales required just to break even this season, then it starts again for them.
Big season for both of us for very different reasons. If they don’t get up, they are in trouble. If we go down we are in trouble.
Our onky saving grace is Evans can fund a shortfall, Delia can’t. All a bit sh!t really if you aren’t a top 6 PL club. The rest is about survival |
I would like to believe this, but they have reduced the wage bill dramatically over the past 18 months, so outgoings wont be anywhere near the same level as last year (some saving - not sure how much).
The sale of Maddison will also help, as there was a profit last year (£14m), and may be some more payments to come?? Didnt Balls allude to payments from previously sold players in last years sales (presumably Brady). You may be more aware on what was paid up front, and it is just a bluff to stop them selling players off cheaply.
There may be a gap to fill, but cant see it being anywhere near £40m - more likely £10m ish?
Either that or I have missed something. |  | | |
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