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Kenny Foggo

PSG Owners To buy Leeds

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15 minutes ago, Parma Ham's gone mouldy said:

 

Well there you have it King. Norwich fans, decent couple, looked ideal investors in Norwich - indeed accepted and welcomed by Delia and Michael - though now you are dissecting their wealth source and suggesting it didn’t meet high enough moral standards

I don’t necessarily say you are wrong in your observation,  though you certainly throw into sharp relief how narrow the pot would be to match the decent and morally clean wealth of  Delia and the multiple other good things she represents. 

Parma 

As I said above- it is about what fans are willing to tolerate- as you've pointed out it is a moveable feast.

 

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8 minutes ago, Norfolk Dan said:

Does anyone know how much it might take to buy our club? I'm guessing £75m+ but that's a total guess... 

Well I think the answer is that it depends. Depends on how much someone wants it and how much Delia and MWJ would be willing to sell their stake for. My vague recollection is that the notional value of their shares is around £30m.

However, they have said in the past that they do not ever expect to make any money out of the club. If they stuck to that line and were prepared to sell, to someone they thought could take the club forward, at a price that saw them recoup their investment then I think that's around the £5 million mark which would render us an absolute bargain.

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34 minutes ago, Parma Ham's gone mouldy said:

 

Well there you have it King. Norwich fans, decent couple, looked ideal investors in Norwich - indeed accepted and welcomed by Delia and Michael - though now you are dissecting their wealth source and suggesting it didn’t meet high enough moral standards. 

I don’t necessarily say you are wrong in your observation,  though you certainly throw into sharp relief how narrow the pot would be to match the decent and morally clean wealth of  Delia and the multiple other good things she represents. 

Parma 

 

12 minutes ago, king canary said:

As I said above- it is about what fans are willing to tolerate- as you've pointed out it is a moveable feast.

 

 My experience of life so far is that people don’t want what they want. Or when they get what they want they don’t want it anymore. Or they wanted it, but now they want something else.

Moveable indeed.

Parma 

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9 minutes ago, Jim Smith said:

Well I think the answer is that it depends. Depends on how much someone wants it and how much Delia and MWJ would be willing to sell their stake for. My vague recollection is that the notional value of their shares is around £30m.

However, they have said in the past that they do not ever expect to make any money out of the club. If they stuck to that line and were prepared to sell, to someone they thought could take the club forward, at a price that saw them recoup their investment then I think that's around the £5 million mark which would render us an absolute bargain.

I think not expecting to make money isn't the same as turning down the value somethings become under your ownership. I certainly wouldn't do that, and I don't know many people that would. I suspect for their family alone they'd expect a sensible value for the club.

As always it would depend when someone came about as well. 

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16 minutes ago, Jim Smith said:

Well I think the answer is that it depends. Depends on how much someone wants it and how much Delia and MWJ would be willing to sell their stake for. My vague recollection is that the notional value of their shares is around £30m.

However, they have said in the past that they do not ever expect to make any money out of the club. If they stuck to that line and were prepared to sell, to someone they thought could take the club forward, at a price that saw them recoup their investment then I think that's around the £5 million mark which would render us an absolute bargain.

This won't happen and neither should it.

It's all very well you expecting Delia and MWJ to sell their shares at a discounted price. But that would value everyone's shares at a discounted price. 

Some people invested good money in good faith. It's one thing for shares to lose value but quite another for someone to devalue them on purpose.

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2 hours ago, hogesar said:

First time I think i've been included in a list of 'unwavering support of the Smith dynasty'. Well, unless you've said the same before.

I love being on people's lists. 🙃

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3 hours ago, Mello Yello said:

Anyway whatever, as we're going with what we've got......and as some Champagne socialists preach...."Money is the root of all evil.....especially when you haven't got enough"......

It's from the bible. ("The love of money is the root of all evil...)

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Just now, Badger said:

It's from the bible. ("The love of money is the root of all evil...)

I'm never sure if it's worse to love one's own money or someone else's money. I suppose loving someone else's money brings envy and covetous into play...

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9 minutes ago, Badger said:

It's from the bible. ("The love of money is the root of all evil...)

One of the most misquoted verses as people tend to leave out the “ love of “ bit

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11 minutes ago, nutty nigel said:

This won't happen and neither should it.

It's all very well you expecting Delia and MWJ to sell their shares at a discounted price. But that would value everyone's shares at a discounted price. 

Some people invested good money in good faith. It's one thing for shares to lose value but quite another for someone to devalue them on purpose.

A point I have made before, probably more than once, and probably every time Jim has put the idea forward...🤓

And that is leaving aside the fact that Jim's suggested figure of £5m would be not so much 'an absolute bargain' as an insult to the intelligence of shareholders.

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15 minutes ago, nutty nigel said:

This won't happen and neither should it.

It's all very well you expecting Delia and MWJ to sell their shares at a discounted price. But that would value everyone's shares at a discounted price. 

Some people invested good money in good faith. It's one thing for shares to lose value but quite another for someone to devalue them on purpose.

Our shares are worthless and always have been. The only shareholding worth any value in this club is the controlling interest (and perhaps to a certain extent Foulger's stake).

I don't expect them to do anything. Its their prerogative to ask whatever price they like for their stake should they sell if but to insist on a price that saw a very significant profit would certainly fly in the face of the statements they have made over the years and I think be a little hypocritical given those statement and that they effectively picked up a controlling stake in the club for well below that value and that the fans and tv money are funding everything of late.

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2 minutes ago, Jim Smith said:

Our shares are worthless and always have been. The only shareholding worth any value in this club is the controlling interest (and perhaps to a certain extent Foulger's stake).

I don't expect them to do anything. Its their prerogative to ask whatever price they like for their stake should they sell if but to insist on a price that saw a very significant profit would certainly fly in the face of the statements they have made over the years and I think be a little hypocritical given those statement and that they effectively picked up a controlling stake in the club for well below that value and that the fans and tv money are funding everything of late.

But this is the point. Is it fair on Foulger for the value of his shares to be waived.

You would have a different view if it happened Jimbo. That's why you're my favourite poster. You moan about the owners, the board, management, players, academy and fans. Yet you choose to support the club.

I bet you go round ASDA putting stuff you don't like in your trolley too...

 

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32 minutes ago, nutty nigel said:

I'm never sure if it's worse to love one's own money or someone else's money. I suppose loving someone else's money brings envy and covetous into play...

Is loving your own money, pride?

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42 minutes ago, Badger said:

It's from the bible. ("The love of money is the root of all evil...)

Sorry I'm agnostic....and there's no pennies from heaven for me......

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3 minutes ago, Mello Yello said:

Sorry I'm agnostic....and there's no pennies from heaven for me......

As you don’t seem to have any faith in the club that doesn’t surprise me

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18 minutes ago, FenwayFrank said:

As you don’t seem to have any faith in the club that doesn’t surprise me

Ooh get you......I'll immediately recite Three Hail Marys as I self flagellate myself with my 'Canaries in Europe scarf' whilst slapping my right cheek with my 'best part of £900.00' season ticket.....Guilty as charged.....Am I forgiven?.....Probably not?.....Don't care as I'm off to hell wearing a Spiderman mask......

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1 hour ago, Jim Smith said:

Well I think the answer is that it depends. Depends on how much someone wants it and how much Delia and MWJ would be willing to sell their stake for. My vague recollection is that the notional value of their shares is around £30m.

However, they have said in the past that they do not ever expect to make any money out of the club. If they stuck to that line and were prepared to sell, to someone they thought could take the club forward, at a price that saw them recoup their investment then I think that's around the £5 million mark which would render us an absolute bargain.

They aren't going to sell a debt free Championship football club which owns it's ground and training ground for £5m to anybody. 

They would make no money by giving it to Tom Smith, perhaps that's the idea.

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Genuine question and I genuinely know nothing about shares so this could be well off the mark. But wouldn’t the action of handing the shares over to Tom devalue the shares? As in he would be seen to be a risk ( lack of wealth ) or do these share perform differently to stock market shares in value. 

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20 minutes ago, TeemuVanBasten said:

They aren't going to sell a debt free Championship football club which owns it's ground and training ground for £5m to anybody. 

They would make no money by giving it to Tom Smith, perhaps that's the idea.

You're starting to  get it now TvBo, they are in a position  to do wtf they like with their  property. Just like me .........and you.

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7 minutes ago, wcorkcanary said:

You're starting to  get it now TvBo, they are in a position  to do wtf they like with their  property. Just like me .........and you.

They did allow a fan vote on whether it should be yellow or green shorts though.....

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6 minutes ago, Mello Yello said:

They did allow a fan vote on whether it should be yellow or green shorts though.....

Keep trying, you'll  get the hang of being funny  eventually. 

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1 minute ago, wcorkcanary said:

Keep trying, you'll  get the hang of being funny  eventually. 

I'm being serious.....you're the funny guy....

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10 minutes ago, Mello Yello said:

I'm being serious.....you're the funny guy....

Why thankyou, kind sir.  And I'm glad green  won. 

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1 minute ago, wcorkcanary said:

Why thankyou, kind sir.  And I'm glad green  won. 

I don't mean 'funny' as in humorous.....though......

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1 hour ago, wcorkcanary said:

You're starting to  get it now TvBo, they are in a position  to do wtf they like with their  property. Just like me .........and you.

Your comment really hit home there, I've never felt like more of a 'consumer'.

In that case I'd like Norwich City to be a membership association and for us to elect a president every 3 years. 

She should sell it to the fans. 

Edited by TeemuVanBasten

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27 minutes ago, Mello Yello said:

I don't mean 'funny' as in humorous.....though......

Careful ,you're  venturing into   Goodfellas territory.  Am I supposed to  see you as Joe Pesci? Or are you the waiter and I'm gonna shoot you in the foot. 

Whether I'm funny ( ha ha) or funny ( peculiar) to you doesn't really bother  me either way, sorry bout  that.

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57 minutes ago, JF said:

Genuine question and I genuinely know nothing about shares so this could be well off the mark. But wouldn’t the action of handing the shares over to Tom devalue the shares? As in he would be seen to be a risk ( lack of wealth ) or do these share perform differently to stock market shares in value. 

It is not the same as shares traded on a stock market. Jim Smith is right that most fans' shares are worthless, or at least that they are not owned with a view to making money, although Jim cannot assume that all such shareholders would be happy to have their investment, however token, wilfully devalued.

Equally he is right to make an exception for S&J's majority holding, and perhaps Foulger's. The former controls the club, and the latter might come into play as far as that is concerned, while it might also be expected by Foulger* to have some monetary value, for him or others.

S&J passing the shares to Tom of itself would not devalue them. While they remain in the Smith family in some way their value essentially depends on their being the controlling stake, and how a would-be buyer would value the club, based on performance, assets, potential etc,  rather than who specifically owns them.

*As I understand it Foulger has sold or passed on most of his shares to family members or such like, but has kept the voting rights.

 

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