The real reason Norwich City’s transfer bill is rocketing as £200m factor cited in Mark Attanasio verdict

Add as preferred source on Google

Norwich City have been one of the most impressive sides in the transfer market this summer.

New manager Liam Manning has certainly been backed in the window and has been able to secure some big-name additions.

Mirko Topic is being touted as a future Premier League midfielder while Norwich were also able to fend off competition to secure Mathias Kvistgaarden thanks to a hidden release clause.

It means some people are tipping the Canaries for promotion from the Championship this season and EFL Analysis’ Chief Finance Correspondent Adam Williams has given some insight into how this money is being spent.

• READ MORE: Chris Sutton’s ‘gut feeling’ prediction about where Norwich City will finish in this ‘relentless’ Championship season

Norwich City spending aided by player sales

For all of the incomings, there have been some high-profile departures from Carrow Road too.

Borja Sainz has joined Porto in the biggest outgoing while forward Josh Sargent continues to be linked with Premier League sides.

Williams admits that this has helped with Norwich’s sales but majority owner Mark Attanasio has helped with a selfless act.

“2024-25 was Norwich’s first season without parachute payments since they were relegated from the Premier League,” Williams began

Typically, teams will go hell for leather to get re-promoted in those two years of parachute payments – and that can be either in terms of retaining the bulk of your Premier League squad or re-basing your squad, i.e., selling players who want top-flight football but replacing them almost like-for-like.

With Norwich, the wage bill was still very high in 2023-24 at £52m, and that had barely moved from £56m the previous financial year. We don’t have the figures for 2024-25 yet, but that will have to had come down quite significantly.

This summer, they have spent significantly, but the bulk of the costs have been offset by player sales. The owner is clearly committed financially – he has converted a number of external loans into either interest-free or low-interest loans, but he’s got to be conscious of FFP too, as well as not over-committing himself financially and making the club vulnerable.“

Norwich must keep on top of the finances

Now that their parachute payments have stopped, there will be an air of trepidation about the way Norwich’s spending in future seasons.

They haven’t had to burn holes in their pockets thanks to the money brought in by player sales but Williams acknowledged that the club have been more ambitious than most.

“It’s a case of balancing the win-now mentality with being able to compete in future seasons if things don’t go to plan in the coming campaign,” he added.

“So yes, they have spent a lot, but their expenditure has been balanced with outgoings too. They have been more ambitious than many relegated clubs in their first couple of seasons post-parachute payments, however.“