Ex-Norwich Chief Executive David McNally Given £1.4m Golden Handshake for Leaving Club
"?Norwich have recently revealed that they paid their former chief executive nearly one and a half million pounds when he left the Canaries, in a revelation which only adds to the list of incidents of shocking amounts of money in global football.
David McNally resigned earlier this year, and the payout he received has not been helpful for Norwich financially. The operating profit from their annual accounts totalled 'only' £14.2m this year, which demonstrates the financial disparity between the Premier League and Championship; they saw £100.2m in revenue in the top flight last year.
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The Canaries are in a better financial position in some ways than before, having paid off £2m worth of debt from its directors. The directors include Delia 'Let's be 'aving you' Smith.
The insight, reported by "?ITV, offers an interesting view into the extraordinary money affairs of the Premier League. McNally was given the £1.4m for compensation of loss of office just before Norwich were confirmed to be relegated into the Championship last season, which shows just how much even a relegation struggler like Norwich had in the bank amid the advent of big TV rights deals.
The £100.2m revenue was boosted immensely by broadcasting, which contributed over £41m (close to half) of the money.
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