Norwich City relegated from Premier League

Norwich City have been relegated from the Premier League after losing 2-0 to Arsenal.

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Relegation will prove to be costly blow for Canaries

Norwich City Credit: PA

Norwich City's impending drop into the Championship will prove costly.

The club's last set of published accounts showed that the club earned around £79m in revenues in the Premier League.

The club will receive around £60m over four years in parachute payments - payments from the Premier League to help relegated clubs.

According to the Deloitte Football Finance report, While the Championship is the seventh richest league in Europe with annual revenues of £476m, the Premier League generated £2.3bn for its 20 clubs.

Much of the Championship's apparent wealth comes from more clubs receiving parachute payments for longer after they drop out of the top flight.

In the summer of 2012 Championship clubs’ net debt reached a record level of £0.9 billion.

Relegation heartbreak for Norwich City after Canaries all but relegated from the Premier League

Norwich City will be playing in The Championship next season. Credit: PA

Norwich City have been all but relegated from the Premier League after West Brom failed to beat Sunderland last night.

The Canaries needed West Brom to win to give them any chance of catching Sunderland, but they were beaten 2-0.

The result means that Norwich would have to beat Arsenal by double figures in their final game to have any chance of avoiding the drop.

It ends a three-year stay in the top flight.

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