WE NEED TO FLY ON UP NOW, SAYS ED
NORWICH chairman Ed Balls admits the club will face some tough decisions at the end of this season if they are not promoted back to the Premier League.
The Canaries are in their final year of parachute payments from the top flight, following their relegation from the Premier League at the end of the 2015-16 season.
And the former Shadow Chancellor admits there will be big financial challenges in overcoming that £30m loss and balancing the books.
“We’ve reduced our salary bill a lot.
“We’re trying to be lean, efficient and as good as we can,” said Balls at the annual meeting with shareholders on Wednesday night at Carrow Road.
“The consequence of relegation from the Premier League and the ending of the parachute payments means we face big financial challenges if we don’t get promoted this season.
“We’re a self-financing club, without a big overseas owner injecting loads and loads of money.
“But we’ve done it before. We’ve got some really quality players coming through. We have an academy which can throw up great talent and we’ve been cutting our cloth over the last year.”
FINANCES: Ed Balls