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Former Norwich Chief Exec Jez Moxey's £712k Pay-Off

Former club chief executive Jez Moxey received a whopping £712,000 pay-off from Norwich City – after just seven months at the club.

Moxey quit his job as chief executive at Carrow Road in February amid reports of a falling out with majority shareholder Delia Smith and her husband Michael Wynne-Jones.

However, the size of his pay-off has only just been revealed following the publication of the Canaries' accounts for the year to the end of June. The accounts make no reference to any salary paid to Moxey during his time at the club.

Moxey joined Norwich after leaving his job at Molineux following the takeover of Wolves by Chinese conglomerate Fosun International in summer 2016.

The 54-year-old had spent 16 years at Molineux after being recruited from a similar position at Stoke City. He is currently on the board at fellow Championship club Burton Albion after being appointed to the board in June.

Norwich's figures showed that after relegation to the Championship, the Canaries made an operating loss of £2.6million and external debt is only £1.8m.

Former boss Alex Neil, now with Preston North End, was given a £2million pay off when he was sacked last season after taking the club down.

Norwich chairman and former Chancellor of the Exchequer Ed Balls said: “The accounts show how hard it is to be relegated.

"Even though we tried a plan to ensure player wages came down too, it wasn’t enough to fill the gap.

“The truth is the big change in that year was a huge drop in broadcasting revenue coming down from the Premier League to the Championship - even with the parachute payments it's a big hit to our finances."

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