Norwich City’s financial position has come under scrutiny as it has been revealed that the club has high levels of borrowing, including more than £30million directly from owner Mark Attanasio’s group. This changes the perception that Norwich is self-funding, based on revenue generated from player trading, commercial deals, and other sources. Attanasio, however, is looking to retain the self-funding model while being flexible about what that entails in the future. He has also expressed willingness to invest from his own pocket into the playing squad to support sporting director Ben Knapper and to consider infrastructure projects. Moving forward, self-funding for Norwich will be about retaining funding within their ownership group rather than relying on third-party loans.
In addition to self-funding, Norwich’s ownership group is considering expanding the stadium and the training ground, which would require capital. Attanasio emphasized that their objective is to retain control over the club and avoid becoming heavily reliant on loans from third parties. While Attanasio is open to equity investments, he wants to ensure that the club retains control over its decision-making and operations. He also stressed the importance of maintaining control over the community’s football club and providing fans with something to look forward to every week. Attanasio mentioned that the passion and frustration displayed by fans at Norwich City’s AGM demonstrated their care and concern for the club, and he wants to keep that connection strong.
Overall, Norwich City’s owner, Mark Attanasio, has expressed a commitment to maintaining the club’s self-funding model while making it more adaptable to future needs. He has shown a willingness to invest from his own resources into the squad and consider infrastructure projects. However, he is determined to keep control over the club and avoid being heavily reliant on loans from third parties. Attanasio’s focus is on retaining the community’s passion for the club and ensuring that Norwich City remains an integral part of the community. With the potential for expansion and investment, Norwich City appears to be on a path to financial stability under Attanasio’s guidance.
