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Club News


25 October 2014

Alan Bowkett and David McNally on 2013-14 accounts

NEIL Adams will have the opportunity to strengthen his squad in the January transfer window according to Chairman Alan Bowkett.

Speaking to Norwich City TV on the publication of the Club’s accounts for the year ended June 30, 2014, both Bowkett and Chief Executive David McNally confirmed that they would be willing to trade if all concerned felt it necessary to help achieve the target of an immediate return to the Premier League.

“Neil has a plan as to where he wants to take the squad. We have the financial resources to support him in that,” said Bowkett.

McNally added: “We’re able to trade, and we’ll sit down with Neil and the rest of the football management board to discuss what we need to do to strengthen the squad.

“The aim is to strengthen, and that’s what we set out to do in the summer so that’s what we’ll do again in January.

“I’d expect us to trade, but the plan is to trade in better players than those leaving the Club.”

City announced a net profit of £6.7m and the clearing of all external debt, although Bowkett said that they would have broken even had top flight survival been achieved last season.

“Perhaps this is one of the most uncomfortable profit announcements in my business life, in the fact that our incremental increase in profit is due totally to our failure to remain in the Premier League,” he commented.

“We had planned to roughly break even, and we have made this profit because we did not have to pay the players the bonus for staying in the Premier League. I would far prefer to have a break even situation and to still be playing in the Premier League.”

McNally added: “We’re pleased that the debt has been repaid. We’re externally debt free.

“We’re all disappointed and frustrated at what happened on the pitch last year, but we’re pleased to say that financially we’re in decent shape as we attempt to get back to the Premier League.” 

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