Doncaster: Grant has loan cash
PUBLISHED: 10:52 04 October 2007 | UPDATED: 10:36 14 September 2010
Norwich chief executive Neil Doncaster today insisted the club still had enough financial muscle to back Peter Grant. Writing in his exclusive EDP column, Doncaster sought to dispel growing myths surrounding City's ability to bolster their under-performing squad after Grant recently vented his frustration at City's failure to attract fresh talent.
Norwich chief executive Neil Doncaster today insisted the club still had enough financial muscle to back Peter Grant.
Writing in his exclusive EDP column, Doncaster sought to dispel growing myths surrounding City's ability to bolster their under-performing squad after Grant recently vented his frustration at City's failure to attract fresh talent.
“We remain able to compete in the loan market with the board continuing to make money available for team strengthening without compromising the financial viability of this club,” said Doncaster. “And we remain totally focused on our ambition of getting Norwich City promoted and established in the Premier League.”
Doncaster underlined City's desire to compete with their Championship rivals - but not at the expense of mortgaging the club's long term future.
“As directors of this great club, we see ourselves very much as custodians of a great Norfolk institution for the benefit of future generations of City supporters,” he said. “In an environment where the new Premiership Sky deal and player wage inflation have stretched to breaking point the already massive chasm between the finances of the Premier League and those of the Football League, striking the right balance between investment in the team today, and ensuring we have money in the bank to pay bills tomorrow, is a difficult and challenging task.
“We have a very real responsibility to the community, to local businesses, to supporters now and in the future, to ensure that they are not let down by their club.”
City's chief executive went on the offensive to address the club's debt problem, the impact of losing Premiership parachute payments and on going efforts to attract potential new investors.
“Those who believe that the club is just days away from financial meltdown are simply wrong,” he said. “Yes, we have a debt that is higher than we would ideally prefer - but it is structured and manageable. And yes, while we remain in the Championship, the financial climate will remain very challenging - as it will for 23 other clubs as well.”
Grant only last week revealed his difficulties in trying to attract reinforcements.
“I went for a player who has played probably two first team games - £12,000 a week, £300,000 loan fee until Christmas,” he said. “That is what I am saying you are up against. We are all impatient for success, but the simple truth is that we can't match the money that some clubs are offering players in wages. Maybe sometimes I need to take stock of that. I get frustrated but maybe I am expecting too much too soon.”