McNally confident of finding fresh investment

PUBLISHED: 10:22 03 February 2010 | UPDATED: 16:58 10 September 2010

The Norwich City board of directors, chaired by Alan Bowkett (fourth from left),  prepares to address shareholders. Picture: Simon Finlay

The Norwich City board of directors, chaired by Alan Bowkett (fourth from left), prepares to address shareholders. Picture: Simon Finlay

Chris Lakey

Norwich City chief executive David McNally says he is confident that the club will be able to attract new investment as it bids to reduce debts of £23m.

Norwich City chief executive David McNally says he is confident that the club will be able to attract new investment as it bids to reduce debts of £23m.

City have appointed Deloittes to advise on attracting investment - and McNally expects to receive their first report within a matter of weeks.

"We believe that we are following a very professional process and that means we have asked our advisors to really look in detail at what the options are open to the club," he said.

"They are pretty advanced in that particular talk and over the coming weeks, the next few weeks, they will be outlining what those options are to the club. We haven't given permission for them to go and get any investment from those particular options at this stage because we need to review those options.

"Once we have done that and decided as a board which ones we would like to pursue they will be tasked then with taking us on to the next level to try and find new investment from whatever area that may be. This is a big football club, there is nothing little about this football club.

"This is a really big football club and so we will absolutely have people, entities, interested in talking to Norwich City about either investment or some kind of partnership."

McNally was speaking at the end of City's annual meeting at Carrow Road last night when he and chairman Alan Bowkett outlined the state of play concerning City's finances.

Options available include selling off some of the club's property for development, and even extending areas of the current ground to increase capacity - although expensive major extension work would depend on the club's status within the footballing ladder.

"It was a very constructive meeting I thought," he said. "The feedback from our shareholders has been very positive.

"Clearly the financial challenge that we are having to face up to are real, they are there - at least they are transparent and they are out there in the open."

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