Norwich City have reported a good set of financial results for the year ended June 2014 when, of course, they were still in the Premier League. Operating profits were £9.5m compared with £4.6m for a comparable period in the preceding year.
Norwich City have reported a good set of financial results for the year ended June 2014 when, of course, they were still in the Premier League. Operating profits were £9.5m compared with £4.6m for a comparable period in the preceding year.
Turnover was £95m, compared with £78m in the preceding year and £74m in the year before. In 2011, with debts of £16m, the club came dangerously close to going into administration.
Salaries and wages did account for 61 per cent of operating expenses, higher than the recommended amount, but not dangerously so. Prudently, the club made a significant proportion of player wages performance related.
Broadcasting income accounted for 72 per cent of all revenue, followed by gate money at 12 per cent. Average attendances were 26,805 of which over 75 per cent represented season tickets.
The income Norwich enjoyed in the Premiership was way above what they will earn in the Championship this season. However, in the Premiership their commercial income of £9.1m was a small fraction of that enjoyed by Manchester United.