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Dicky

What to expect under Delia/Michael/Nephew Tom's ownership

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[quote user="Indy"]I believe it will depend on which cat shares you hold and if your shareholders agreements have a Tag Along clause where the majority shareholder has the right to sell at a price agreed the minority will be tagged along.

I don’t think unless written in the articles the majority shareholder has the obligation to notify other shareholder of any offer unless they wish to.

I might be wrong![/quote]
The relevant point is that the company, as a PLC, is subject to the UK Takeover Code, which requires any offer to be notified to all shareholders. By definition, then, there cannot have been an offer for the company since it became a PLC, which was I think sometime in the early 2000s. Fernandes never made an offer, not surprisingly, since that charade was in effect forced on him and the club by pressure from fans in cyberspace, and neither did Cullum.

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I thought it depends on the categories of share, but fair enough, if that’s the case then it should be known.

But that’s only true to a formal approach isn’t it Purple? If potential buyer makes an enquiry it can be turned down without the knowledge of the rest of the shareholders?

My knowledge is based on a company in a different country, which caused major issues.

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So Cullum could of been preparing a bid (or so he said )but did not make one correct Purple ???

Because i did hear from someone who should know there was interest a couple of years ago from someone

all i was told then was Delia could sell the club if she wanted that was approx two years ago

NOT saying a bid this was someone high up at the club

was this possible ?

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No offers.

If you wanted to buy it wouldn''t you make an offer Jimbo?

Or would you bee too scared in case a couple of old pensioners might give you a dirty look?

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Do you go around offering to buy houses that are not for sale Nutty. There is a difference between getting to a formal offer stage and making an initial approach. There is a lot of work involved in making a takeover bid, why would you do it when you know it will he rejected and have no means of compelling a sale because they have a majority.. I believe anyone making an initial approach has been rebuffed. I don’t believe they have not been sounded out/approached. Indeed the quote in the Times interview clearly suggests otherwise.

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[quote user="Jim Smith"]Do you go around offering to buy houses that are not for sale Nutty. There is a difference between getting to a formal offer stage and making an initial approach. There is a lot of work involved in making a takeover bid, why would you do it when you know it will he rejected and have no means of compelling a sale because they have a majority.. I believe anyone making an initial approach has been rebuffed. I don’t believe they have not been sounded out/approached. Indeed the quote in the Times interview clearly suggests otherwise.[/quote]
It is true that because Norwich City is not listed on a stock market Smith and Jones'' majority shareholding makes it harder than it would otherwise be for a hostile takeover bid to succeed. But by no means impossible. All it would take would be the right person (which would certainly not be someone who dropped out at the first sign of resistance) with the right offer, sold to fans in the right way.

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Jimbo I most certainly would do it. Which begs the question, as someone who has no respect for Smith & Jones, why wouldn''t you?

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I am sure people could ask the question does not mean a offer is made

but we do not know if someone over dinner or in Private has said i would like to buy your club is it for sale etc

i think that what i was told that someone if she wanted to sell was interested a couple of years ago

Like others have said no real point in make a firm bid if the answer is No in private

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As the Club already has approval from shareholders (and has since 2010) to issue up to one million new ordinary shares, the opportunity already exists for a majority shareholding to be acquired.

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Takeovers by billionaires appears to be like winning the lottery. It always happens to someone else but it’s never you. Still as they say with the Lottery, you’ve got to be in it to win it...

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What has been stated is that any deal would have to inject significant ongoing funds into the Football Club.

This de-facto means that two amounts of money need to be provided by a buyer: an amount to purchase the shares to obtain majority ownership, plus a further meaningful amount that would significantly drive the club forward (and very likely also provide some kind of long term custodianship plan).

This is not at all unreasonable, though - particularly in the good times - is unlikely to represent a commercial ‘bargain’. And in many ways why should the Club be offered at ‘low rent’?

The Cullum deal reportedly foundered on such principles. A public ‘offer’ (Press statement) at the time to inject ‘£20m into the team’, but the total did not apparently take into account the shareholding or conflated the two.

In effect simply buying out the majority shareholders changes nothing for the club, other than the figurehead. A significant change would need that this share buyout amount be significantly added to via immediate investment ‘growth’ funds and proven access to ongoing structural support (the ability to sustain annual losses on a long-term basis for example).

The Club and majority owners may well also have a more stringent and meaningful idea of the ‘fit and proper persons test’ for Norwich than other clubs and bodies have applied.

This can be viewed as ‘controlling and restrictive’ or entirely responsible and necessary, admirable even, depending upon on your viewpoint.

What the above does mean in practical terms - for investment or ownership - is that Norwich is not a knock-down purchase opportunity and may well have a higher suitability threshold than many, many clubs.

Given that self-sustainability is around the corner, it is not likely that these rules and parameters will be relaxed unless sporting level drops dramatically and self-sustainability results in inexorable, longer-term decline.

In such a case the share value amount would be reduced - or indeed the majority owners would be in a much weaker position strategically to hold out for a high value or potentially anything at all - and any and all of an investment by a new owner would go straight into the ‘sexier’ pot of team development and visible asset improvements.

Parma

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On 19/06/2018 at 13:53, Dicky said:

I have supported Norwich all of my life, have seen many changes since the days of Paddon, Sugget, Keelen, Forbes etc and used to get very upset at the sales of players such as Reeves, Fashanu, Sutton, Bellamy. Norwich are and always will be a selling club. Get that. Other clubs will have bigger budgets and be more attractive to the likes of Maddison.

 

 

What really bothers me though, is that in the past, players would come to us, have 3, 4, 5 good years and then we would sell them at a profit. Under our current regime, players such as Pritchard, Maddison and the Murphys are sold after a year. We are not able to hold on to any v. good players for any amount of time now.

 

 

Most fans still talk about us being a yo-yo club - sorry, but this is more likely to be League1-Champs rather than Champs-Prem nowadays. We are willingly selling our decent players and replacing them with lower league players (particularly German ones) who are, at best average. The longer this goes on, the less able we are to attract decent players or decent prospects.

 

 

Few weeks ago, was sitting next to Tony Bloom, the Brighton Chairman/Owner at a charity lunch and we spent an hour or so discussing football (obvs). His honest view (as a man who has put over £200million into Brighton) of Norwich''s prospects under Delia/MWJ''s ownership - football is changing very fast, we are not only failing to keep up, but are heading fast in the wrong direction. If we want a sniff of the Prem again, need some serious money coming into the club and show some ambition to attract good players/prospects.

Just watched Brighton on MOTD Dicky. They look to be heading fast in the wrong direction to me. Maybe Tony Bloom would be better sitting next to Delia/Michael/Nephew Tom at the next lunch. Perhaps he might learn something about owning a football club.

Cracking thread BTW. Will have a few laughs reading this on cabbage in the morning....

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On 20/06/2018 at 16:20, Mike said:

Just thought I''d look in and see if you lot had cheered up any. Obviously not. Wasnt going to post until I read about the Leicester game in 2011. Great memories. But if you could just stretch that old memory back 18 months further you would remember putting your parts on about our owners. How there was no future. How those selfish owners needed to sell to someone like Evans or Mandaric so we could be like the clubs you covered at that time. pL clubs like portsmouth, Bolton, Wigan, Birmingham, Blackburn even Blackpool. In 2011 when you all got happy again I couldn''t help thinking how it wasn''t "What you wanted for your club". But I guess it didn''t mean as much to you as it did to those who''d stuck with it. And then at Wembley in 2015 how much joy did you get from a result which matched the "minimum of your expectations". Money appears to be King for many on this thread. Other people''s money at that.. I wonder if the other people''s money would have delivered that night at Leicester and all that followed..

 
[Y][:D]

 

 

 

 

We had that night, their owners delivered them a whole season... funny old world.

 

 

 

 

I really hope your support of a cash strapped ownership selling our key talented players to fund more seasons of zero investment works... I really really do. And I will hold my hands up if it happens, as I am sure you will if next season is as flat as the last... interesting times

 

 

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On 19/06/2018 at 15:49, Dicky said:

We are getting left behind - it''s indisputable. The longer is carries on, the further adrift we are getting. Attendances will drop, income will drop, we will struggle further to get any players of any worth (or potential). Sad to see it happen to the club.

That aged well.

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It never ceases to amaze me how certain people are about what will or what won't happen in the future.  Things so often don't happen how people think they will, so why be so certain about it?  It's especially true in football where the margins can be so small between success and failure. 

Predicting doom and gloom for NCFC is especially peculiar - it is almost as if people want bad things to happen.  Is it so hard to see the possibilities that things might just go well?  I don't know if the op is a binner or not, but he got several people to agree with him.

I am often accused of being overly optimistic, but often that is not the case - often I am merely stating the case that the future is not certain - that if the points are there to be got, why should we not go on a run and get them.....or the opposite this season - that just because we were 10 points clear of third it was not certain that we would be promoted.  Yet people seem to crave certainty, rather than just accept things as they are. 

So imo, certainty as to what will happen is flawed thinking.  It is true with nearly everything in life - but in football it is even more so. People say we won't win the Premier League next season........but is it certain that we won't?  Leicester won it with a refreshing blend of players, attitude and belief and certainly did not have the best individual players in the league....so is it certain that we won't do something similar?  I'm not predicting anything - imo we could do fanatstically well, but we could also get relegated.  What is certain is that what will happen next season is uncertain!

So enjoy the uncertainty and think twice before trying to inflict doom and gloom on the rest of us!  I understand that some people need to express themselves in a negative way, but saying we are doomed to failure is just the same as saying we are certain to get fantastic success.  No one could have predicted the success we had this season....so why should anyone have been so certain that we would fail?  And it is the same next season anything could happen, from relegation to winning the league.

The uncertainty is what makes football so special, so don't waste your time being gloomy about what might happen....enjoy it for what it is!  Isn't that what Farke has been telling us all season?? 

 

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Indeed, it’s great to see opinions pre season, now one side got it right, the other wrong. Credit to Delia, Webber & Farke, did the job fantastically well.

But it’s not going to be easy to survive next season, test of their resolve when big teams start to knock on the door enquiring about, Aarons, Godfrey, Lewis etc. It will be interesting to see the squad come the first premiership game.

Money isn’t the be all in football as proven this season, but finances were pretty damn tight last summer by all accounts and now through hard work and focus the club can breath.

Hopefully we will move down the route of younger hungry type or with a point to prove, determined and motivated players, not journeymen with baggage like Jarvis, Naismith’s of this world.

Its great to be proven wrong, long may it continue, I’m looking forward to being an armchair fan, I’ll get to a few games and I’ll enjoy it, win lose or draw.....OTBC

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On 19/06/2018 at 16:41, Mello Yello said:

I personally expect and think we''ll be superb and also a fluent footballing force to be reckoned with.....We will achieve automatic promotion and be crowned Champions!......

 

Just to lighten the mood a little. I know it was all said in jest but that is fantastic foresight Mello! 🙂

It does show what an incredible achievement this year has been. A prediction made in jest because it seemed so far off the radar  actually came to be. Still have to pinch myself.

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On 26/08/2018 at 12:24, JF said:

Takeovers by billionaires appears to be like winning the lottery. It always happens to someone else but it’s never you. Still as they say with the Lottery, you’ve got to be in it to win it...

What you mean like Oxford? They now have two sitting on their board! We will see how much of an impact they have.

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On 19/06/2018 at 21:10, Cantiaci Canary said:

I''m sure I read somewhere that Tom will be restrained in some ways when he takes the throne ... 

Does he have a haemorrhoid problem?

 

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1 hour ago, Van wink said:

Does he have a haemorrhoid problem?

 

Yeah, apparently he has piles of 'em......

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2 hours ago, Hairy Canary said:

Just to lighten the mood a little. I know it was all said in jest but that is fantastic foresight Mello! 🙂

It does show what an incredible achievement this year has been. A prediction made in jest because it seemed so far off the radar  actually came to be. Still have to pinch myself.

Who sez it was in jest?......I was absolutely serious I never joke on this message board.......So there!......

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Just now, Mello Yello said:

Who sez it was in jest?......I was absolutely serious I never joke on this message board.......So there!......

I personally expect and think we''ll be superb and also a fluent footballing force to be reckoned with.....We will achieve automatic promotion and be crowned Champions!......

A stopped clock's right at least five times a day.....well the one I have on my microwave is......

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On 19/06/2018 at 13:53, Dicky said:

I have supported Norwich all of my life, have seen many changes since the days of Paddon, Sugget, Keelen, Forbes etc and used to get very upset at the sales of players such as Reeves, Fashanu, Sutton, Bellamy. Norwich are and always will be a selling club. Get that. Other clubs will have bigger budgets and be more attractive to the likes of Maddison.

 

 

What really bothers me though, is that in the past, players would come to us, have 3, 4, 5 good years and then we would sell them at a profit. Under our current regime, players such as Pritchard, Maddison and the Murphys are sold after a year. We are not able to hold on to any v. good players for any amount of time now.

 

 

Most fans still talk about us being a yo-yo club - sorry, but this is more likely to be League1-Champs rather than Champs-Prem nowadays. We are willingly selling our decent players and replacing them with lower league players (particularly German ones) who are, at best average. The longer this goes on, the less able we are to attract decent players or decent prospects.

 

 

Few weeks ago, was sitting next to Tony Bloom, the Brighton Chairman/Owner at a charity lunch and we spent an hour or so discussing football (obvs). His honest view (as a man who has put over £200million into Brighton) of Norwich''s prospects under Delia/MWJ''s ownership - football is changing very fast, we are not only failing to keep up, but are heading fast in the wrong direction. If we want a sniff of the Prem again, need some serious money coming into the club and show some ambition to attract good players/prospects.

Would have been so much funnier reading this if Brighton had been relegated.

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1 hour ago, Well b back said:

Would have been so much funnier reading this if Brighton had been relegated.

Brighton did spend some serious money but they failed to attract good players/prospects.

Norwich didn't spend serious money but did attract good players/prospects.

Being rich isn't the same as being wise.

 

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The thread shows all the signs of rolling up deeply felt antipathy to the owners with profound ignorance of the way football works to come up with an answer the posters wanted. As the idea that we should take advice from someone who spent £200 million to finish 17th in the Prem just demonstrates

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2 hours ago, BigFish said:

The thread shows all the signs of rolling up deeply felt antipathy to the owners with profound ignorance of the way football works to come up with an answer the posters wanted. As the idea that we should take advice from someone who spent £200 million to finish 17th in the Prem just demonstrates

The Farke/Webber revolution might just show that you no longer have to spend that kind of money to reach 17th in the Prem. And if they do, then why does anyone need a friendly billionaire after all? Could it be that Soccernomics was completely wrong and that what you really need are strong, fast, youthful players just playing together for fun?

Until someone offers them £50k a week to sit on a bench somewhere in London or the North West.......

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46 minutes ago, sgncfc said:

The Farke/Webber revolution might just show that you no longer have to spend that kind of money to reach 17th in the Prem. And if they do, then why does anyone need a friendly billionaire after all? Could it be that Soccernomics was completely wrong and that what you really need are strong, fast, youthful players just playing together for fun?

Until someone offers them £50k a week to sit on a bench somewhere in London or the North West.......

Will just need to keep finding new players then...........something that has kept Southampton afloat in the Prem

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Fair play. My concern with the "self funding" model has always been that it decreased our chances of competing at the top of the division in the long term because it meant we had to do everything exceptionally well in order to compete with those with bigger and better financial resources. The last 18 months we have done everything exceptionally well. 

I still have my doubts about our competitiveness longer term had we stayed down this year but that is now a "what if" and the fresh injection of capital from the next stint in the premier league should see us good for several years, particularly if we can stay up for a while and do not go crazy with the spending.

I have never had anything personal against Delia and MWJ, I did, however, think that their intransigent approach to considering new ownership/investment would cost us. Thankfully I was wrong, at least in the short term anyway.

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