tom cavendish

Except that Cullum has not offered to cover any loans etc. or buy any shares from existing shareholders. He has only offered £20m to spend on players in return for control of the club. For all we know, the £20m could just be a loan in return for control of the club. If so, then he gets £20m to gamble on players, and gets control of the club for nothing. If the gamble does not pay off, then he still has control of the club and the club still owes him £20m.  

[quote user="Citizen Journalist Foghorn"][quote user="tom cavendish"] You are completely wrong. Take season 05/06 as an example. The average Championship club had a revenue of £13m and spent 60% of it on wages (7.8m). NCFC revenue was £24m and spent 62.5% of that on wages (£15m) Therefore, the NCFC Board provided a very high budget for wages. Delia & Co have run the club very well and provided funds for a good playing budget.   [/quote] We had Parachute Payments that season. [/quote] Yep, and most of it was spent on players wages so providing an excellent budget to the management.

You are completely wrong. Take season 05/06 as an example. The average Championship club had a revenue of £13m and spent 60% of it on wages (7.8m). NCFC revenue was £24m and spent 62.5% of that on wages (£15m) Therefore, the NCFC Board provided a very high budget for wages. Delia & Co have run the club very well and provided funds for a good playing budget.  

Delia Smith and MWJ became majority shareholders in 1997-98. The club finished 15th in the Championship and the average attendance was 14,445. Last season the team finished 16th - one place worse than in 1997-98 but the average crowd was 24,527 - more than 10,000 higher. Delia and Co have done a brilliant job to achieve that. They can''t do much about what happens on the pitch other than appoint/sack managers and give them a competitive budget. I''m stunned by the lack of respect shown towards Delia and Co. on this forum. They are fans too so why can''t everyone be polite about them and show some respect?  

He said  the £20m was "very unlikely to yield a good return" - so the £20m could well be a low interest loan or an interest-free loan to the club in return for control of the club.

At the moment it just looks like a cheeky bid to get the club on the cheap, and if it''s in the form of a £20m loan then the club would cost him practically nothing (because the club would then owe him the £20m).

Why doesn''t PC just become a minority shareholder/Director and throw in a few million quid to help the club? A fan paid to sign Hucks for the club, why does PC not just do the same sort of thing?

I hope this is worth a read... PC wants Delia to stay on the board - or in other words didn''t offer to buy her out. It looks like he is only offering 20m to be spent on players in return for control of the club. Also, what if the £20m for players is only a loan to the club? If so, he''d get control of the club for nothing, £20m to spend on players, but the club would owe him £20m. If PC wants control of the club, then he should pay the proper price (peanuts to him) or as a billionaire he could easily give a few million pounds towards the team. Surely he would do that if he was such a big fan? Let''s not forget that Norwich City is such a well run club that it is envied by fans of many, many other football clubs. Much of that is down to Delia and Co who have transformed the club for the better in many areas. The club has really become a central part of the local community and has attracted many new fans as a result. It is only really on the pitch that the club has had some problems. Delia and Co can''t really do too much about that other than appoint/sack managers and set a budget. Give Delia and Co a break. They are genuine fans so at least be polite and show respect when debating.

"Fans urge club to accept £20m offer" was a terrible headline and it seems very one sided from Archant. Archant don''t speak for the fans. Most people seem to want to know more details or think PC was trying to get the club on the cheap. Gutter press reporting from Archant, and I won''t be buying any Archant puplications anymore.