Shareholders delighted by Norwich City's progress
Ben Kendall Shareholders last night welcomed the new era in the Norwich City boardroom - after they were presented with the most in-depth insight into the club's financial position yet.
Shareholders last night welcomed the new era in the Norwich City boardroom - after they were presented with the most in-depth insight into the club's financial position yet.
Chairman Alan Bowkett outlined the Canaries' income and outgoings over the past six years in meticulous detail at the annual general meeting at Carrow Road.
Fans present appeared to welcome the level of detail and described a sense of optimism both on and off the field after the club has climbed to the top of League One.
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Peter Oldfield, from Hellesdon, said: "It was a fantastic meeting, one of the best in years.
"To see the chairman go into that level of detail about the financial situation was great - it helps us understand why we're in the position we're in and what might lie ahead.
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"Of course the fact that the team is playing well creates a sense of optimism but you have got to give some credit to this board that we are heading in the right direction."
Alan Cook, from Loddon, said: "We were given a lot more detail than I expected and it was explained in simple terms so we can all understand the background to the position we now find ourselves in.
"All of us have been wondering exactly where the money has gone and now we can understand that better.
"We hadn't seen a lot of the chairman until tonight but I was impressed by the way he took control of the meeting and his willingness to answer questions, so I can see what he brings to the job."
Cameron Newark told the meeting that the failure to reach a compensation settlement with Colchester United over the appointment of manager Paul Lambert was "the one cloud hanging over an otherwise positive season".
Michael Bartlett asked whether the club was on course to meet its budget for the current financial year.
Chairman Alan Bowkett replied, saying: "The loss this year will be less than it was last year and we have a model going forward which means we will eventually not be making any loss."
Another fan wrote on the Pink Un messageboard: "I have to say I was extremely impressed with both Bowkett and McNally. They struck me as being the right men for the job and pulled no punches over the severity of the problems."
Most fans who spoke praised Lambert's management of the team and called for the board to continue to back him.
Afterwards Mr Bowkett and chief executive David McNally said the meeting had been "very constructive" and adding that it had provided a good opportunity to communicate with the fans.