Always enjoyed visits to Norwich, nice place & decent old style 27,000 atmospheric stadium. So the club must be a boost to its local economy alongside its beautiful Norfolk locality despite having been relegated from the PL a record 6 times !
Reading financials of them taking out £66m of loans - just shows the precarious financial tightrope Norwich City are walking for sure, if they don't go up.
A £43.9m loan had been secured against future media rights, broadcast revenue, and is fully repayable in March 2024.
This particular loan is slightly different in the sense that it is dependent on the Canaries regaining promotion to the top flight.
A £22.6m loan was taken out against future contracted receivables, for example transfer funds that have been paid in instalments, so serve as an advance payment on guaranteed funds that the club will receive regardless of division.
Even though the latest accounts 2021/22 imply there was a debt of £66m, cash in hand of £4.8m at yearly earnings, it's perhaps more accurate to suggest that the net debt sits at £49.1m.
Norwich entitlement to parachute payments i suppose will be used to help ease the burden created by that debt in the short term but this season will be crucial for them.