By Paul Holmes
June 18 2002
Norwich City chief executive Neil Doncaster has said the club needs £5mill over the next two years to survive. Last season's losing play-off finalists are reported to be losing £3million a year, doubled with the news that the contract with ITV Digital has been breached and no TV money will be forthcoming, at least not at the previous scale, Norwich are in a dangerous situation.
Had the Canaires beaten Birmingham in the play-off final their financial worries would have dissapeared as the Premiership and the wads of SKY TV cash fought off any troubles. However Norwich are still in the 1st Division and Doncaster knows that the club faces a tough time ahead.
The clubs shareholder will get the chance next month to vote for or against plans for Norwich City to become a PLC, a move which could bring the club valuable income.
Speaking to the Norwich Evening News, Doncaster is fearful of what will happen if the plan is turned down.
"I think Norwich is in jeopardy and there is a threat to our survival.
"We will need to work very hard to ensure we do survive.
"If the public shares offer fails or if Carlton and Granada don't deliver, you have to question whether a club in the First Division can get through that.
"There is a lot of real financial pain out there and I have no doubt there are a number of clubs who may well be forced to consider going into administration - possibly before the start of the season."