Norwich City is launching a £3.5m Canaries mini-bond to build a state-of-the-art academy, giving supporters the chance to invest in the club’s future.
In a statement, Norwich said: “Investing in the academy is part of a long-term strategy to produce more home-grown players, building a sustainable future for the club while continuing to develop a first-team squad capable of being promoted and then remaining in the Premier League.”
The money raised by the five-year bond, which has a maximum £5m threshold, will be ring-fenced to ensure it is invested in facilities at Colney, maintaining the academy’s Category 1 status and enabling the club to attract the best young players in the region and beyond. The academy is being revamped under its new manager Steve Weaver and sporting director Stuart Webber with a brief to bring through more first-team players to follow in the footsteps of Jamal Lewis.
The club’s owners and directors plan to invest in the bond and managing director Steve Stone presented the plan to 200 club partners at Carrow Road. The Club’s vision is to become an established Premier League club, and long-term supporters are being given an opportunity to pre-register prior to the public launch on 28th March.
The bond will pay 5% gross interest annually, with an additional 3% gross in club credit, and investors will be paid a one-off 25% bonus if the club is promoted during the lifetime of the bond. The minimum subscription is £500 with no upper limit; investments must be paid in increments of £500. The Canaries Bond is an unsecured investment and prospective investors will be advised at every stage of the process of the potential risks to their capital.
The bond will be available through Tifosy, a sports investment platform, which was co-founded by former footballer and manager Gianluca Vialli.
“Developing the Academy is a vital part of our strategy for the long-term future of Norwich City, securing Elite Player Performance Plan (EPPP) Category 1 status into the foreseeable future. We have a firm commitment to produce more young talent to play for our first team and this work is an essential part of this. All support for the Canaries Bond will make a major difference to this football club in the years ahead.”
“I will be investing along with many of my colleagues at Carrow Road and Colney and members of our board. All support for the scheme will make a major difference to your football club in the years ahead and if you are interested, please read the details of the offer carefully to see if you’d like to become involved in helping us to Build Our Future.”
Tifosy co-founder Gianluca Vialli said: “A strong Academy is the lifeblood of any club and supporters love to see local players break through to the first team. Norwich City wants to invest in its Academy and the Tifosy platform gives supporters the chance to become partners with the club, investing together in its future. We are excited by the club’s long-term vision to develop more of its own young players and are delighted to be supporting the Canaries Bond.”