sturgeon220

he is happy to carry on his negotiations through the press and favour us with carfully phrased sound bites, again through the press.  Why cant he tell us what his offer really is and why not make that offer OFFICIAL!!   Unless there is something to hide??  (perish the thought)

[quote user="Forces2Canaries"]Billionaire businessman Peter Cullum last night said he was “at a loss” at Norwich City board members'' refusal to meet him to discuss his £20m offer to bankroll a Premier League promotion push. First paragraph - take it this is not deemed as an offer then? [/quote] Not really, he wants to use that £20 mil to take control of the club but not be responsible for any other investment required or financing the day to day running or have anything to do with the debt repayments as far as I can see. No wonder the board are refusing to talk to him , He wants his cake and he wants it without any of the problems.

[quote user="Forces2Canaries"][quote user="sturgeon220"]Cullum is very shrewd,  He is trying to stage an agresive take over through the media using us fans as a lever. I am sure we will hear from the board soon putting their side of the story but if he still keeps waving the "If they don''t take my offer they will struggle" in front of the fans noses who will listen to the board?. P.C. is playing the fans like a stradivarius Violin ( very well ). If this keeps up no one will care if it is good for the club long term or if the offer is fair to the present owners, all the focus will be on fear that we will get relegated if we dont let the white knight ride to the rescue. I know we need investment to progress and soon but I am beginning to dislike this guy and his methods. He is taking the fans for fools as much as the present board it is just that the "spoon full of sugar" is very big[/quote] What other methods can he use to put his point across? If the Board refuse to compromise in THEIR asking price, and refuse to enter into negotiations before PC states that he wants to buy DS & MWJ shares then i dont see that PC has any other options available to him. [/quote] He could make an offer for a start. According to the article this morning the board have not recieved one and will not sit down with him until he makes one. That seems reasonable to me. If there is no offer then all the rest is a PR exercise to put pressue on the board through the media and the fans. If he continues to do it this way he will tear this club apart!!  MAKE THE DAMM OFFER P.C. and then lets get talking.

Cullum is very shrewd,  He is trying to stage an agresive take over through the media using us fans as a lever. I am sure we will hear from the board soon putting their side of the story but if he still keeps waving the "If they don''t take my offer they will struggle" in front of the fans noses who will listen to the board?. P.C. is playing the fans like a stradivarius Violin ( very well ). If this keeps up no one will care if it is good for the club long term or if the offer is fair to the present owners, all the focus will be on fear that we will get relegated if we dont let the white knight ride to the rescue. I know we need investment to progress and soon but I am beginning to dislike this guy and his methods. He is taking the fans for fools as much as the present board it is just that the "spoon full of sugar" is very big

[quote user="Bubsy Willis"]Delia has sold her shares and quits, will be announced tomorrow? Can anyone tell me if this is true? OTBC [/quote] No it''s not right!!

  SSN  reporting chairman and Majority shareholder have put the club up for sale (new major investor)  I wonder whay value they have put on the club?

At the 2006–07 Norwich City FC Annual General Meeting (on the 18 January 2007) Smith and Wynn-Jones announced that they would be open to offers to buy their majority stake-holding in the club. However, they made clear that any prospective buyer would have to invest heavily in the squad, with regards to team improving.   Good god was it really was it really that long ago   Peter Cullum  ,  They are open to offers for their stake as long as you are going to "invest heavily" in the squad as well.  But, please note you have to offer to buy the shares as well , not just promise us fans £20 mil in some vague EDP article!!  please get on with it!!  I am sure a clever guy like you can come to some agreement on how to (legaly) get round some of the stumbling blocks!!

IF (and I am not sure) but IF the offer was made 2 weeks after the AGM then no she did not lie.  But hey!, why let a little thing like a time line get in the way of a chance to sl*g off Delia Smith again. I Say again IF THE OFFER WAS MADE  2  WEEKS AFTER THE AGM then she did not lie.  There is no doubt in my mind that there is a lot of posturing going on both at board room level and on this message board . At the end of the day ALL of us want what is will be best for this club. I believe P. C. would be good for NCFC but he has got to stop misleading us and / or being economical with his interveiw information. It is causing too much division between the fans and it will only result in the present owners becoming more entrenched  OTBC 

[quote user="colneycanary"]industry sources suggesting the shares are actually worth between £10 and 15, the price to Mr Cullum could be between £5m to £8m.[/quote] Have "industry sources actually looked at the Norwich assets?  This club owns their own ground, has other land for development, a thriving catering/resurant business and one of the best training facilities in the country. This is not a situation many championship clubs find themselves in.Also in yesterdays evening news some financial wiz kid said P.C''s offer was undervaluing the club!!

[quote user="Worst Wizard"]Hey sturgeon 220!No Probs.[/quote]  Nice one mate  Here''s to the future hey!!???

[quote user="Worst Wizard"][quote user="sturgeon220"][quote user="Worst Wizard"][quote user="sturgeon220"][quote user="Worst Wizard"]That statement says more about Delias motives than anyone on here ever has.[/quote] Pardon?[/quote]Didn''t take you long did it?!) Convert all loans to shares then increase share price from £25 to £30 instant 20% markup on all shares you hold.2)Having acquired controlling interest convert NCFC LTD to NCFC PLC Thus potential buyer has no option but to buy you out completely.3)Ensure all long term debt is repayable on change of ownership. Tags another £20mill on the price.4)Having dragged the club to the depths of the old second division, weakened the playing squad beyond recognition, selling all the good players to "balance the books" and replacing them with cheapies and freebies and loans, run up twenty million pounds of debt in the Clubs name, she then announces to the World that the purchaser has to invest £20m in the squad, Double what Delia has put into the Club in ten bloody years,  of course that £20m wont be secured against securities or shares like Delia had the priviledge to do.!!!! But if you don''t put it in you''ll be exactly the sort of nasty person Delia has been saving us from for so long.She has screwed us royally here. Messed up the team, messed up the finances and now wants to walk, head up having saved the Club, with a 20% profit on her investment and leaving the new owner holding a very ugly £20m baby created by the current Boards mismanagement of income over the last ten years.She got in cheap and wants to sell top dollar and you question me?.[/quote]   Unless you are a financial expert in which case I will bow to your expert and reasond case for the prosecution. [/quote]Dont patronise me.Clause 3) Repayment due technically yes in practice it is secured so would likely be re-negotiated in fact if PC took over it would be bad business for the lender to call it in. He''s a big player with massive collateral, a far better risk than Delia.Why are they asking £30 for shares then? She paid £25 for most of hers Nothing you could say will make me believe anything other than Delia and Michael have feathered a very comfortable nest for themselves for imminent retirement out of NCFC, and I''ve a feeling I''m far from alone in that view.[/quote]  I had no intention of patronising you, but Your line at the end of the first post was so arogant it really pi**ed me off. I have my opinion and you have yours. I reckon the truth will be somewhere in the middle don''t you?  I, like many others on here do see the need for change, it''s just the nasty hysterical way some of the posters are screaming for blood that I dislike.  I hope we all get what we want, I just try to do it in a civilized way as I''m sure you would like to as well.. (or is that patronosing as well?)  O.T.B.C

[quote user="Fat Prophet"] City fans, you can do your bit too!  Give up your season tickets!  Sacrifice is never easy, or it wouldn''t be a sacrifice at all.  But now''s the time!  Seize the moment!  This is our club and we want it back!   [/quote]  Giving back several thousand pounds worth of season tickets would make the club less atractive to any prospactive purchaser 

[quote user="jbghost"]I think a few very childish and to be honest ridiculous posters on this thread really have no idea what running a business is about. I can only assume that some of the insulting anti Smith posts are from children. Quite clearly if Mr Cullum wants to put £20 million into players he can make a gift of the money. This isn''t the case though. He wants a controlling interest of the club which happens to be worth a few million pounds weather it comes from buying out the Smiths or other directors and some of Smith''s shares. You can insult Delia as much as you want, the facts are that if Cullum is serious he has to buy 51% of the sharesAT £30 a time. Paying back the £4 million loan which I assume is half the Turners and half the Smiths I would expect depends on whose shares he buys. If you were a shareholder being bought out you would expect any loan you had made be repaid as well. In reality I assume the Turners will stay so their loan could remain. As already clearly posted but not taken in by others, if he wants to take control all outstanding bank loans must be repaid as you cannot expect parting shareholders to still be nominally responsible for the debt repayment. It would not be difficult to renegotiate new loans if  Cullum wantes to. Bottom line is the £56 million is the highest price Cullum would have to pay to take control of all shares and remove all the debt from the club as well as invest £20 million into players. The reality could be a lot less. [/quote]  Now, dont you go and get all sensible on this board. I think some of them will soon be arranging a lynch mob! and they will be after you as well if you start posting well thought out posts  LOL

[quote user="Worst Wizard"][quote user="sturgeon220"][quote user="Worst Wizard"]That statement says more about Delias motives than anyone on here ever has.[/quote] Pardon?[/quote]Didn''t take you long did it?!) Convert all loans to shares then increase share price from £25 to £30 instant 20% markup on all shares you hold.2)Having acquired controlling interest convert NCFC LTD to NCFC PLC Thus potential buyer has no option but to buy you out completely.3)Ensure all long term debt is repayable on change of ownership. Tags another £20mill on the price.4)Having dragged the club to the depths of the old second division, weakened the playing squad beyond recognition, selling all the good players to "balance the books" and replacing them with cheapies and freebies and loans, run up twenty million pounds of debt in the Clubs name, she then announces to the World that the purchaser has to invest £20m in the squad, Double what Delia has put into the Club in ten bloody years,  of course that £20m wont be secured against securities or shares like Delia had the priviledge to do.!!!! But if you don''t put it in you''ll be exactly the sort of nasty person Delia has been saving us from for so long.She has screwed us royally here. Messed up the team, messed up the finances and now wants to walk, head up having saved the Club, with a 20% profit on her investment and leaving the new owner holding a very ugly £20m baby created by the current Boards mismanagement of income over the last ten years.She got in cheap and wants to sell top dollar and you question me?.[/quote]  Yes , I question you.  Unless you are a financial expert in which case I will bow to your expert and reasond case for the prosecution. In the mean time Point three is I believe incorrect as there would seem to an accusation that the board negotiated this clause, insted of which i believe it to be standard business practice with loans!  Please realise this is the start, not the end of negotiations.  Also if P.C. put in the £20 mil plus enough to be majority shareholder we would still be £20 mil in debt!!

This is strictly the first salvo boys and girls.  Please keep your heads , There are many way''s to negotiate the quoted "price" and i am sure that P.C. knows them all!   Give it time.

[quote user="camuldonum"][quote user="Fat Prophet"] Delia and Michael you have done everything you possibly can to make your position at the club impregnable.    Well perhaps now you''ll get your wish.  But you won''t enjoy it.  Not one little bit.   [/quote] Anybody who has ever borrowed money for their business knows that banks INSIST on this arrangement - that any outstanding loans are immediately repayable if control/ownership of the company changes.  That is to protect their interests and is absolutely standard in loans to businesses.  They may be prepared to broker a new arrangement with the incoming new owner but technically the sale price would have to take account of any outstanding loan and be factored in to a sale agreement.   [/quote]  Now that was silly!  you just know that no one will take any notice of the facts!  Yes, Banks do INSIST on such arrangements but a lot of people on here will say with great authority that DELIA did this on purpose!!

I have not seen anything that stops Cullum bying the club, he just has to pay the real price.  They guy is worth a hell of a lot more than £56 mil.  If he is serious then lets get on with it!!

[quote user="Ncfc No Ambition"]What it says is more seasons of struggle under the Delia regime , that little bit of hope lasted all of a few hours .Best interests of the club at heart , dont think so .[/quote]  Just what do you want the share holders to do?  The figures are inflated by the £20 million for players  . £36 mil  for the club (lock stock and Colney thrown in seems a proper price to me.  There is the ground, other land , Hotel, resaurant business and the colney complex to purchase don''t forget. Nobody on here can seriously believe the shareholders are going to give millions away. Be honest , would any of us?

It appears he has to purchase all shares  Or so it say''s in other threads.  change of ownership triggers repayment of debt as well!!

[quote user="Worst Wizard"]That statement says more about Delias motives than anyone on here ever has.[/quote] Pardon?

I have had a look ,  assuming a 20mil investment for new players and repaying of all debt (triggered by change of owner) cost of purchasing all shares and repayment of loans  £56 mil!!   EASY

If The offer is a fair price for the shares held by the present majority shareholders then yes they should sell , as they have maintained they would do. BUT we do NOT know what the offer is yet. When we do have the facts then (and only then) can we make an informed decision wether to support the bid or not.

[quote user="canaries in Bed"]I don''t think that he would choose QPR over us for any other reason than money. They have the power and  funds now to top anybody in the league. We have not actually been linked by us with him. We don''t know what and who GR wants.[/quote]True,  But there will be plenty on here that will blame G.R. for going on holiday, The board/the smith''s,G.R (again) the tea lady (do we still have a tea lady?) and others for lack of ambition ,finances. and nt moving quick enough for what was (obviously) our main target E.T.C.  Please everyone RELAX !!

I wonder how long it will be before this board has to be moderated again?

G.R. is the manager of our club and as such he should have the backing and support of all of us in his attempts to restucture our club into something approaching a propper business and successfull club!!