Norwich City enjoyed a magical day yesterday.

Victory over Arsenal capped off a great day for the Canaries after they announced a profit for the first time in three years of £13.5million following a massive £50million increase in revenue.

Chairman Alan Bowkett is all too aware of the need for the Norfolk club to retain top-flight status once again ahead of the new Premier League's broadcast contract, which is worth £3bn over three seasons.

"We are very pleased with these sets of results because it is just another step for us to take to achieve our objective to become a self-sustaining, established Premier League club," Bowkett said in an interview with the Eastern Daily Press.

"Once we have paid off all our debt, we run our football club as a mutual co-operative, all excess cash then, which used to pay down debt, can go into our football budget.

"We are planning to be in the Premier League next year because the finances and the management of the club has gone better than we planned and that's thanks to all employees; management and football."