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"We are not ready, but I've never known a team that's been ready for the first day (of a season)," Ranieri said on Friday.
"I am also expecting a few new players (before the end of the transfer window)."
It will be the 65-year-old's first competitive match since being sacked by Leicester City in February, just nine months after leading the Foxes to a staggering Premier League title.
He had to receive special dispensation from the French league to become the Canaries' boss in June because of rules regarding coaches aged over 65.
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But Ranieri will return to the bench on Sunday, when he goes up against fellow newcomer Marcelo Bielsa of Lille.
Ranieri has only made two first-team signings in the close season so far and one of those, Romanian international goalkeeper Ciprian Tatarusanu, is out injured.