Norwich Owner Mark Attanasio Outlines Premier League Ambitions

Mark Attanasio, owner of Norwich City, has established a goal to develop a competitive Premier League team within a five-year timeframe. His company, Norfolk FB Holdings Group, an American entity, currently possesses an 85% ownership share in the club, which is presently positioned 14th in the Championship league. Norwich City experienced relegation after just one season following each of their three most recent promotions in 2015, 2019, and 2021. Attanasio stated that he would consider it a failure if the club does not return to top-flight football within the specified five-year period. He conveyed to BBC Look East, “You need a complete buy-in from everybody top to bottom to do this. An owner can set the tone but everybody from the owner down to the assistant coach in the academy has to be rowing in the same direction for this to work.” He noted that his Major League Baseball franchise, the Milwaukee Brewers, required 12 years to become established and attain sustained success. He further remarked, “If we’re going to be realistic, this is a more competitive sport and it’s going to take three to five years to get there and 12 to be sustainable.” Attanasio expressed that Norfolk FB was highly enthusiastic about this venture and committed to “stick with it” in the forthcoming years. Speaking to BBC Radio Norfolk, he stated, “There’s already clubs in the Premier League that do what we’re trying to do so we just have to do it as well and hope some of them will stray.” He continued, “In my money management business, we’ve done the same thing for 34 years and almost never made a bad loan in a highly risky business with almost $50bn to invest because we do the same thing and don’t stray. Whatever we do (at Norwich), we’re going to bring in expert advice and stick to our discipline.” Attanasio initially became a member of the Norwich board in 2022, following Norfolk FB Holdings’ acquisition of a 15.9% share in the club. The group purchased an additional 195,012 shares last year, which elevated their stake to 40% and positioned him as a joint-majority shareholder with Delia Smith and her husband, Michael Wynn Jones. The club’s annual financial report, released last month, indicated that Norfolk FB Holdings had served as a “key source” of capital, providing loans amounting to £58.6m by 30 June, along with an additional £8m in “cashflow funding” subsequently. The report detailed that the existing loan would be converted into two new categories of preference shares, resulting in their shareholding increasing further to 85%. Under the terms of the agreement, Smith and Wynn Jones have resigned from their directorships and assumed roles as honorary life presidents. Regarding on-field performance, Norwich has experienced three consecutive defeats under head coach Johannes Hoff Thorup, managing to score only a single goal during these matches. After being just one point shy of the play-off positions last month, the team now trails Watford, currently in sixth place, by seven points. Attanasio commented, “You live and die with every match. We do in baseball. This year our club was the only team in MLB that did not lose four in a row. The fact that we (Norwich) just lost three really hurts, and how we lost was worse.” He added, “In 20 seasons in sports, (I’ve learned) you’re never as good as you think you are when you’re going well and you’re never as bad as you think you are when you’re going poorly.” He continued, “We still could make the play-offs, we’re exactly where we were (last season) and this team, if it’s healthy, will be more dangerous in the play-offs this year than last year. It’s why it’s important to have a plan and to follow through and execute on that plan. We know we’re moving in the right direction and we’re going to keep doing things in that direction.” Borja Sainz has emerged as the most prominent player for the Canaries this season, having scored 12 goals in 17 appearances. Attanasio confirmed that the Spanish forward is expected to stay with the club past the January transfer window. He remarked, “Borja’s been great for us. He runs for 90 minutes…. and nobody has made more (personal) appearances on behalf of the club than Borja Sainz. He’s a great character and if at some point he wants to move on, you do that, but January would be a little too early, I think.” Regarding potential player acquisitions in January, Attanasio indicated that league financial regulations represent “the only cap on what we can put our hand in the pocket for.” However, Thorup aims to avoid an unmanageable squad, meaning any new players secured by sporting director Ben Knapper will be restricted in quantity. Attanasio stated, “The January transfer window is not easy to add players. Those we added last year didn’t work out so great.” He added, “Ben’s identified a couple of targets but because they’re good, there are other clubs that want them as well, several. He’s done a good job of providing a narrative for what he’s looking to do.” Norwich’s next fixture after the international break is an away game against West Bromwich Albion, scheduled for 23 November.