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| | Monday, 13 May, 2002, 10:27 GMT 11:27 UK Bruce's �30m bonus Birmingham's win will avert a financial crisis Birmingham City chairman David Gold has revealed how promotion to the Premiership has averted a cash crisis - and landed the club a potential �30m jackpot. Gold was celebrating after Steve Bruce's side finally edged their way into the top flight by beating Norwich City on penalties after a 1-1 draw in Cardiff's Millennium Stadium. And he explained how the financial windfall that comes with Premiership football has halted a possible financial decline at the club. He claims Birmingham could now rake in a possible �30m cash bonanza as a result of Premiership spin-offs. Gold also warned the collapse of ITV Digital could send First Division clubs into administation in coming months. He said: "We are leaving behind some serious trouble in the lower divisions with the shortfall of the ITV Digital money. "Most of us had geared our finances through to August, when we were about to receive something in the region of �3m. "I think the figure we are looking at now, from the television deal and all the commercial deals and the fact that we will be having capacity crowds, will be near to �30m. The amount is just stagerring." Gold added: "If we had lost I would have been facing a �3m shortfall, which is going to cause a lot of First Division clubs major problems over the next few months.
"Instead of that we will be picking up a cheque for �10m in a couple of weeks' time I understand. This is the difference it makes." Birmingham managing director Karren Brady said: "We have arranged a meeting this week at David Sullivan's house to discuss the players that we are going to sign. "We have kept going and going and reached the end of the road but the hard work starts now." Norwich, in contrast, were left to face the disappoinment of life in the First Division. Boss Nigel Worthington said: "If we had got promoted we would have had the money to spend but now we will be looking for Bosman signings - that is the harsh reality of the situation." Gold added: "It's fantastic. It was fantastic to see young Darren Carter come up and take that penalty that won us the game. "I can't believe it when you think of the pressure that must have been on him. "He just walked up like he had been doing it all his life, whacked it in and we are in the Premiership." | |
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