Norwich City Football Club has revealed a concerning pre-tax loss of £20.7 million for the financial year ending in June 2025, an increase of £6.3 million compared to the previous fiscal year. These financial results emerge during a challenging period for the Canaries, who are currently battling at the lower end of the Championship table. The club's annual turnover has plummeted from £73.1 million to £39.3 million, primarily due to the absence of parachute payments following their relegation from the Premier League. Read more about Stolarczyk Sidelined as Leicester Face Norwich Challenge.
Despite these alarming figures, there is a silver lining in the realm of player sales. Norwich reported a profit of £23.2 million from transfers, marking an increase of £9.8 million compared to the 2023-24 season. This period also saw a change in ownership, with Mark Attanasio's Norfolk FB Holdings taking the reins. However, the timing of the financial report is particularly concerning, as the team currently finds itself in the relegation zone.
Executive director Zoe Webber has acknowledged the frustrations felt by fans and staff alike. "In the opening months of the season, we were all incredibly frustrated that some of the good work at the training centre didn't translate to results and points, and, ultimately, that is what matters most," she stated. Webber reaffirmed the club's commitment to making decisions that foster both short-term and long-term benefits for Norwich, adding, "We're continuing to do everything we can to ensure our supporters have something tangible to get behind." Read more about Pukki Retires from International Duty as Finland's Top Scorer.
Norwich's recent performances have been lacklustre. After finishing in 13th place last season—11 points shy of the play-off positions—head coach Johannes Hoff Thorup was dismissed. His replacement, Norwich-born Liam Manning, has struggled to turn the team's fortunes around, with the club losing all home matches this season and only accumulating nine points from 14 games.
Majority shareholder Attanasio publicly backed Manning during a special segment on BBC Radio Norfolk’s Canary Call. Sporting director Ben Knapper also voiced his support, asserting that Manning is "the best candidate to help us achieve our primary target of promotion to the Premier League." He acknowledged the challenges ahead, commenting, "We know that's not going to be easy or come quickly with the strategic approach we have taken, but we have conviction in the direction in which we are moving and will work relentlessly until we get there."
Some fans are expressing concern over the club's future, fearing a potential drop into League One for the first time since the 2009-10 season. Knapper admitted that the start of the current campaign has been "extremely challenging and disappointing," yet he remains hopeful about the squad changes implemented over the summer. "We are all convinced that we will turn this around over the coming months," he asserted.
Attendance figures present a mixed narrative, with an average home crowd of 26,316 last season, reflecting a slight increase from the previous year. Season ticket sales have also risen, with 20,339 sold compared to 20,020 in the 2023-24 season. However, the financial report reveals a troubling trend, as total wage costs as a percentage of turnover surged from 71% to 122%.
As Norwich City seeks to navigate through these challenging times, the immediate focus must shift to securing crucial results on the pitch. With a home fixture against Leicester City scheduled for this Saturday, the Canaries will have a vital opportunity to begin reversing their fortunes and restoring faith among their dedicated supporters. Read more about Kvistgaardens Rescues Point as Canaries Stumble at Hillsborough.