12 month rolling deal???

WORTHY'S CONTRACT - THE FACTS

CITY Chief Executive Neil Doncaster today revealed that Canaries' boss Nigel Worthington is on 12-month rolling contract.

The terms of the deal had been confidential, but all parties have agreed to give First News the facts following inaccurate media speculation suggesting Worthington was on a contract lasting for up to four years, and bulletin board rumours suggesting up to six years.

In a statement to www.canaries.co.uk this morning the Chief Executive not only revealed the length of the manager's contract but also revealed his salary, like those of the players, was dependent on divisional status:

He commented: "I have read speculation that our manager enjoys the comfort of a four, five or maybe even a six-year contract; that in a moment of post-promotion hysteria the Club temporarily lost sight of its policy of prudence with ambition; that the Manager 'played the Board like a violin' to obtain a long-term contract that the Club cannot now afford to terminate.

"To date, we have refused to divulge details of the length of Nigel's contract - a deal negotiated in summer 2004, the details of which were not made public at the time.

"But given the recent tide of misinformation and unhelpful speculation, we now feel it is only appropriate to set out the facts. And Nigel has now waived his right to confidentiality and agreed for the length of his contract to be made a matter of public record to quash the rumours.

worthington

"When negotiating new deals with the coaching team, the Board had full regard for 'corporate governance' - principles that provide best practice guidance, now enshrined in the Combined Code for all listed companies. In respect of senior staff employment contracts, this states that "there is a strong case for setting notice periods at, or reducing them to, one year or less."

"Contrary to speculation, the deals that were negotiated with the coaching team were wholly in accordance with this principle and with the concept of 'prudence with ambition' that the Club holds so dear. Nigel is on a 12 month rolling contract. And the pay is divisional, setting out different rates for the Premiership and the Football League.

"And whilst there would clearly be a financial cost to terminating Nigel's contract, the length of his contracts is simply not the straitjacket on the Club that our critics would have you believe.

"The reason - the sole reason - why the Board has not terminated the contracts of our coaching team is because they believe that this would be the wrong thing to do. That the stability and continuity which has served us so well since Nigel took over in 2001 is the route to the long-term success which we all crave for Norwich City."

Posted By: Only1Deano on November 30th 2005 at 09:58:35

Message Thread

12 month rolling deal??? (NCFC) - Only1Deano, Nov 30, 09:58:35
- I reckon this might have already been said but WHAT THE FUCK IS HE STILL DOING HERE THEN? (n/m) (NCFC) - pants, Nov 30, 10:03:00
  - because (NCFC) - camcan, Nov 30, 10:09:38
    - You being racist?.. (NCFC) - Fierce Panda, Nov 30, 10:37:35
      - ballsist (NCFC) - camcan, Nov 30, 10:41:17
- Well. That's something I suppose. (NCFC) - Arizona Bay, Nov 30, 10:01:33
- So why the fuck is he still here? (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:00:59
  - Why don't you just give him till christmas... (NCFC) - Bonjour, Nov 30, 10:04:10
    - FAO: Bonjour, (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:09:07
      - and replace with who??keegan don't make me laugh... (NCFC) - Bonjour, Nov 30, 10:20:35
        
        Look at the money he has been given in the 5 years here, 10million!! (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:25:04
        
        No need for the "prick" effort. Keegan and Burley are two (NCFC) - Bonjour, Nov 30, 10:31:48
        
        Sorry My Wynn Jones, i mean Bonjour. (n/m) (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:33:34
        
        lets here your names then?? nm (n/m) (NCFC) - Bonjour, Nov 30, 10:35:39
        
        Like i said, replacement names are irrelevant (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:37:12
        
        now your just being silly (n/m) (NCFC) - Bonjour, Nov 30, 10:39:21
        
        Ok, personally i would like to see (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:42:24
        
        haha, cos there is no other manager out there that could manage us? (n/m) (NCFC) - pants, Nov 30, 10:23:15
        
        lets have some realistic names then... (NCFC) - Bonjour, Nov 30, 10:26:49
        
        Worthy has had 5 years of bringing in his own names, he has bought 10 in this season ffs (NCFC) - WorthysYellaBirdFlu, Nov 30, 10:30:55
        
        Who would be your choice? (NCFC) - Delveg, Nov 30, 10:25:22
      - That last statement sums it up for me... (NCFC) - Delveg, Nov 30, 10:11:31
    - wouldnt mind 20-25 from him though! (n/m) (NCFC) - conker, Nov 30, 10:05:10
      - i think we should give him till 12 Jan (n/m) (NCFC) - NCFC4life, Nov 30, 10:07:40
  - We Are Now Following The Sheffield Wednesday Model (NCFC) - Martin Peters, Nov 30, 10:03:46
    - we were supposedly a "big fish" in this division (NCFC) - mr carra, Nov 30, 10:04:59
- it's served us so well... (NCFC) - mr carra, Nov 30, 10:00:50
  - this is the worst bit... (NCFC) - Only1Deano, Nov 30, 10:03:06
    - our debts seem about the same.... (NCFC) - mr carra, Nov 30, 10:07:06
  - Very scary... (NCFC) - Delveg, Nov 30, 10:02:59

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