Norwich City might be in a financial crisis after relegation

It is believed that Norwich City is currently in a financial crisis and have put up their entire squad for sale.

According to some reports, the current owners Delia Smith and her husband Michael Wynn Jone are unwilling to invest any more money into the team as they look to sell the club to foreign investors.

In a statement released by the Norwich City board, the club has said that their priority is to find another chief executive. Indeed, McNally resigned last week as the chief executive of the club, and they will need to find another one that could help manage the day-to-day affairs of the club. There is also a decision to take on whether Alex Neil will remain as manager of the club following their relegation to the Championship. The statement did not provide any hints on whether Alex Neil will stay as the manager or not.

The statement thanked the supporters for their unconditional support during the season and also said that the board shared the pains of the relegation.

The board admitted that the club has failed to reach its objectives this season which was to secure their Premier League status. The statement said that work has already started in order to determine what went wrong this season so that corrective measures could be taken.

We will have to wait for the coming weeks to find out whether the rumors of financial crisis are real or not. New investors will certainly mean money coming in the club and could help in the purchasing of new players. However, the first decision that will need to be taken is whether McNally will stay as manager as the club. A new manager will certainly want to bring his own players as they look to get back up in the Premier League.