Norwich fans are preparing for their lowest league season for 50 years
The Norwich City Supporters Trust is hoping to secure a supporters' place on the club's board of directors.
Two-thirds of City's season ticket holders chose to claim their rebate following the club's relegation.
Trust chairman Paul Bond told the NCST website: "We have a scheme which would allow the club to regain team building income and strengthen the fans' input."
Bond believes the £700,000 that has gone back to fans could be used to ensure they have a voice on the board.
The club confirmed on Wednesday that £350,000 of rebates had been left unclaimed, amounting to around 6,000 of their 18,000 season ticket holders.
Such action by a large proportion of the 63.3% of season ticket holders would give the fans the second or third largest shareholding in the club
NCST Chairman Paul Bond
"If every season ticket holder reclaiming their rebate joined the supporters trust and donated their refund, the trust would invest and hold a significant fan-based stake in the club," Bond said.
"The Trust believes such action by a large proportion of the 63.3% of season ticket holders would give the fans the second or third largest shareholding in the club and one that would endure."
Bond also believes that such a scheme could prove a massive benefit for the board themselves.
"Almost certainly, from that size of membership, there should emerge suitable candidates with the necessary business experience to become a valuable member of the football club board and an important spokesperson for grass-roots fans," he said.
Norwich director Michael Foulger will match the unclaimed rebates from his own pocket, with the proceeds going to manager Bryan Gunn's playing budget for next season.
The Norwich City Supporters Trust currently holds 1,020 shares in the club, amounting to a value of £25,720.
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