Source: Team_Talk
Canaries' accounts reveal losses
The Canaries were relegated from the Championship in May and have confirmed they require a further investment of £2.9million to survive until the end of the 2010-11 season.[LNB]In accounts published up to May 31, 2009 the club showed an operating loss of £4.1million before tax which was not helped by a dip in player sales from £3.5million in 2008 to just £900,000.[LNB]Chairman Alan Bowkett said: "As we forecasted, trading in 2009 was difficult.[LNB]"I am pleased to say that we are operating within forecast for the current season but there remain balance sheet matters which need to be addressed.[LNB]"We have models going forward which show us to be cash positive both in League One and the Championship - which is of course where we aim to be as soon as possible."[LNB][LNB]
