Norwich City has released its latest annual report, covering the year ended 30 June 2026.
For the year ended 30 June 2026, group turnover totalled £40.3m, up from £39.3m in the prior year. The increase reflects resilient matchday and commercial performance, alongside strong revenues generated in relation to the club's FA Cup run, which culminated in a fifth-round appearance.
The group recorded an operating loss, before player trading, of £42.3m, compared to a £25.5m loss in 2025. However, the club generated a player trading profit of £45.9m driven by player sales, with notable departures including Borja Sainz, Jonathan Rowe, Marcelino Núñez, and Josh Sargent, alongside £16.8m of amortisation recognised during the year. After accounting for player trading, the operating loss was £13.3m, consistent with 2025.
Investment in the squad remained high, with summer 2025 additions including Jacob Wright, Daniel Grimshaw, Harry Darling, Louie Moulden, Mathias Kvistgaarden, Papa Amadou Diallo, Mirko Topić, Jovon Makama, Pelle Mattsson, Vladan Kovačević, Jeffrey Schlupp and Jakov Medić, complemented by January window signings of Mohamed Touré, Ali Ahmed and Paris Maghoma.
In the summer 2026 transfer window, further first-team additions were made, with Andre Brooks, Sam Field and Darlin Yongwa all joining on a permanent basis.
Alongside the playing squad, the club invested £4.2m in capital infrastructure during the period, which included initial works at Carrow Road on the since completed hospitality spaces, NR1 and Aria.
The full report of the club’s annual accounts for the year ended 30 June 2026 can be accessed by clicking on the below link.
Read here | Norwich City Annual Report 2026
All shareholders will receive a copy of the report by post or email over the coming days, in preparation for the club’s AGM on Wednesday, December 2, 2026, at which shareholders will have the opportunity to vote on approving the club’s annual accounts.
In addition, resolutions relating to the EFL’s Squad Cost Ratio Rules will also be voted on by shareholders at the AGM. Under the SCR Rules, a club’s squad cost must not exceed 85% of its relevant turnover, plus certain permitted injections of equity funding from its owners.
Whilst we will not know until later in the season whether and to what extent we may require an equity injection to be made for the 2026/27 season, it has nevertheless been deemed prudent to seek shareholder approval to allot and issue a new class of preference share to the club’s majority shareholder, Norfolk FB Holdings, LLC, should it be required to make an equity injection either this season or in future seasons. Doing so now also avoids the need to arrange an extraordinary general meeting at a later date in order to deal with this issue.
Further details relating to these matters are set out in the notice of AGM which has been sent to shareholders.