Revealed: Norwich City’s 2016/17 Premier League parachute payment
PUBLISHED: 09:15 02 June 2017 | UPDATED: 09:15 02 June 2017
©Focus Images Limited www.focus-images.co.uk +447814 482222
Norwich City’s cut of the Premier League parachute money last season was just under £41m.
The Canaries, along with relegated duo Aston Villa and Newcastle United from 12 months ago, were paid £40,915,922 each, as part of the package designed to enable relegated clubs to adjust to lower revenue streams back in the Football League.
City will now only be entitled to one more tranche of parachute money for the 2017/18 campaign, under the rules relating to clubs who survive for just the one season in the Premier League, following the club’s Wembley play-off triumph back in 2015.
Norwich were one of seven Football League clubs who received a parachute payment, in a cumulative pay-out of £219m. The likes of QPR, Fulham, Cardiff, Reading and Wigan were also paid smaller sums, as part of existing arrangements, following their respective top flight demotions over recent years.
Norwich’s managing director Steve Stone, speaking last month after the Championship finale against QPR, estimated the club would receive £12m less in their second and final parachute payment for the 2017/18 campaign compared to the most recent season.
“We have a second and final year of parachute payments, which is roughly £12m less than the first year,” he said. “The indication is we will get somewhere in the low £30ms but it is still to be finalised by the Premier League. Last year it was around £43m, £44m. It is a challenge but we knew about that when we were relegated and we have been planning our financial models accordingly.”
The vast sums contained in the latest set of published figures, awarded to all 20 Premier League teams on a sliding scale, reinforces the need for Norwich to launch a major promotion push under new head coach Daniel Farke.
Champions Chelsea were paid £150.8m - 50pc more than the top earners in 2015/16. The 2016/17 season was the first of the latest television deal and saw a total of almost £2.4bn paid to the 20 clubs - up from £1.6bn last season.
Bottom club Sunderland got £93.47m - more than the £93.21m Leicester City banked for winning the title 12 months ago.
The figures are based on broadcast and commercial deals plus prize money. Funds from the Premier League’s central commercial deals and overseas broadcast rights are shared equally - as is half of the domestic broadcast income.
A quarter is paid out in prize money based on each club’s league position and the other quarter in ‘facility fees’ for each game broadcast on UK television.