posted on Oct, 6 2004 @ 05:43 AM
Norwich fans who bought shares in last season's issue by the club have helped create a £1.2m kitty for manager Nigel Worthington.
Worthington's top priority will be to secure a striker after missing out before the window closed in August, and the additional funding could be a big
Under the terms of last season's share issue, fans are entitled to claim a dividend each season Norwich are in the Premier League by 1 October.
The club had appealed to fans not to do this, with the board setting the lead by not claiming a dividend on any of their preference B shares, and fans
have responded to the call.
Of the 17,134 shares, only 4,822 were redeemed, at a cost of £100 each, leaving 12,312 remaining shares, creating a cash boost of £1.23m. Had no-one
cashed their shares in, Worthington would have had £1.7m to spend.
Chief executive Neil Doncaster said: "In the scheme of things, it is small beer. But for where Norwich City are, and in keeping with our policy of
prudence with ambition, it is a significant sum.
"That money will be available to Nigel Worthington in the January transfer window."
Who are they going to buy though? Not really an attractive club to go to, seeing as they are one of the favourites to go down.