Never in their wildest dreams could Norwich City supporters have imagined the riches-to-rags and back again roller coaster that they have been on for the past decade. The 12th place finish in the 2011-12 Premier League tops off an incredible three seasons which saw Norwich starting at the bottom of League 1 and winning two successive promotions to find their way to the top of the English pyramid. The top flight is not new territory for the club, the Canaries actually have a long history of making successful runs at greatness only to have their wings clipped by economic reality and then to bounce back again. This tenacity is what makes them one of the greatest underdog stories currently in the English Association.
Here I will look at the finances of the club from 2002-03 to 2010-11. Norwich’s recent trajectory has been determined by two major events: the pursuit and hangover from the Premier League and the hiring of Paul Lambert. The cycle of overgrowth, collapse, and renewal is a pattern that will crop up in every financial (and sporting) category when we talk about Norwich.
The revenue picture has been inconsistent given Norwich’s history but there has been growth over the entire period with revenues increasing by £10m to £23m (+77%) from 2002-03 to 2010-11. Revenues peaked at £37.4m (68% over the previous year) when the club was promoted to the Premier League in 2004-05. Continue reading “Norwich: Here, There, and Back Again”