Why I am not excited…yet

[Dean Coneys boots 1,406]

I’m old enough to remember the excitement of fans when Peter Cullum (?) was about to buy the club…only he then didn’t. 

I am also old enough to remember the hype and excitement when a married couple were promising investment- only it never really happened. 

In both cases it seems, from the outside, as if talks got to an advanced stage but faltered when it became clear the present board wanting the money but would not relinquish conctrol. 

Of course we can discuss all day, and people will have different opinions, on whether Delia et al were protecting the club from chancers or holding it back because they struggle to let go. Fine it is water under the bridge in any case. 

But it does suggest we should not cheer too soon. This time feels different- not least because the owners are much older and the present model isn’t working - but it could all go South. 

my advice is put the bubbly in the fridge but don’t pop the cork until everything is signed, sealed and delivered 

[A Load of Squit 5,210]

I wasn't excited by Cullum, he always came across as a chancer, Delia & Michael made the correct decision as far as he was concerned.

[PurpleCanary 5,580]

5 minutes ago, Dean Coneys boots said:

I’m old enough to remember the excitement of fans when Peter Cullum (?) was about to buy the club…only he then didn’t. 

I am also old enough to remember the hype and excitement when a married couple were promising investment- only it never really happened. 

In both cases it seems, from the outside, as if talks got to an advanced stage but faltered when it became clear the present board wanting the money but would not relinquish conctrol. 

Of course we can discuss all day, and people will have different opinions, on whether Delia et al were protecting the club from chancers or holding it back because they struggle to let go. Fine it is water under the bridge in any case. 

But it does suggest we should not cheer too soon. This time feels different- not least because the owners are much older and the present model isn’t working - but it could all go South. 

my advice is put the bubbly in the fridge but don’t pop the cork until everything is signed, sealed and delivered 

As it is Sunday one should be kind, DCB, so as far as that post is concerned best just to say that I have no intention of following your advice on the consumption of champagne.🍾

[Daz Sparks 1,174]

Even back then, neither Cullum nor the Turners were rich enough, Delia and Michael knew this and weren't going to relinquish control to people without the requisite funds. The American proposal, whilst not mega rich by current football club standards is considerably more wealthy than the the aforementioned.

[Daz Sparks 1,174]

1 minute ago, PurpleCanary said:

As it is Sunday one should be kind, DCB, so as far as that post is concerned best just to say that I have no intention of following your advice on the consumption of champagne.🍾

No bucks fizz in the Purple household on a Sunday then?

[The Real Buh 3,478]

I remember Tony Fernandes!

[Daz Sparks 1,174]

2 minutes ago, The Real Buh said:

I remember Tony Fernandes!

He was a sh!t ton richer than Cullum and the Turners, but too much of a wide boy for Smith and jones methinks.

[TheGunnShow 5,985]

By all means wait for the financial details, but looking at what Attanasio has done for the Milwaukee Brewers, he looks like he could well be an owner with a fundamentally similar ethos, just a financially higher-powered version of it - and it also looks like he took over the Brewers when they had an owner (the Seligs) who aimed to retire debt before he took over. 

That's what makes it intriguing from my perspective. He looks like he could be a potential owner who gets precisely what we were doing and has experience of pushing on from such a base. I do wonder what his motives were, and I do actually wonder how he became aware of us (if it turned out Webber or the Board were behind initial contact, it could be quite the feather in their caps!).

But it's intrigue, not excitement at my end.

[cambridgeshire canary 6,778]

Barnsleys owners are worth billions. Just you know, saying.

[hogesar 9,722]

Jesus wept. No one with half a brain was excited by Cullum.

So yes, you were probably dancing around for days at the time.

[lake district canary 4,542]

43 minutes ago, TheGunnShow said:

By all means wait for the financial details, but looking at what Attanasio has done for the Milwaukee Brewers, he looks like he could well be an owner with a fundamentally similar ethos, just a financially higher-powered version of it - and it also looks like he took over the Brewers when they had an owner (the Seligs) who aimed to retire debt before he took over. 

That's what makes it intriguing from my perspective. He looks like he could be a potential owner who gets precisely what we were doing and has experience of pushing on from such a base. I do wonder what his motives were, and I do actually wonder how he became aware of us (if it turned out Webber or the Board were behind initial contact, it could be quite the feather in their caps!).

But it's intrigue, not excitement at my end.

This looks a fair perspective - a like minded ethos but with more resources to develop it. That is what makes it look an attractive proposition from our point of view - and for the investors - it looks a good fit. 

[Christoph Stiepermann 1,139]

We're still in the early stages, nothing is guaranteed yet and a lot could still go wrong if one party decides to change their mind. it's also worth mentioning however that this isn't going to radically change the club in the way that some supporters are imagining, we're not going to suddenly be flush with cash because these guys just aren't that rich by PL owner standards and when we do get to the PL again any investor like this is going to want a return on their investment. What it might mean if it does go through is that we can take a few more risks upon promotion, we won't have to tale out a loan to be able to use the full amount of TV money in the summer which cut our budget with interest and maybe won't have to sell our best player next time. We won't be splashing the cash that's for sure it doesn't appear to be in these potential new owners ethos or even financial capability. 

[Kingston Yellow 222]

I can only hope that if there is investment, that the plank who signed-off last summer’s transfer expenses has been moved firmly to one side. 

[littleyellowbirdie 2,577]

Well, having had a look at what Atanassio did with the Brewers, I'm excited. A delegation this big turning up openly like this on such a big deal means everybody involved is taking this prospect very seriously, so we should too. 

What I'm mostly concerned about is the risk of some getting over-excited if/when it goes ahead; it took a few years for the Brewers to have a significant breakthrough, so be prepared to be patient (fat chance with some, I know). 

Incidentally, Cullum was offering 20 million quid at a time when we were performing badly in the Championship, having had one season in the Premier League since relegation in the early '90s. We didn't get the investment, but the club has improved its position without that to where anyone looking for a majority stake should be thinking of putting in seven to ten times that amount. 

Edited May 29, 2022 by littleyellowbirdie

[Dean Coneys boots 1,406]

The club have said stressed that any investment “would not lead to a change in the status of Delia Smith and Michael Wynn Jones as joint majority shareholders.” 

This makes me a little more pessimistic over the nature of what is being offered. Because anyone who is looking to invest heavily would almost certainly want overall control not just being a free income source for Smiths

[Mello Yello 2,302]

Free half a pint o' Beer and a Pizza Slice for all NCFC Season Ticket holders for the first City home game in the Chumps....Under 18s and younger kids get a carton of pop or juice instead of ale....

 

[king canary 7,654]

3 hours ago, hogesar said:

Jesus wept. No one with half a brain was excited by Cullum.

So yes, you were probably dancing around for days at the time.

I think that's very harsh.

Lots of people were excited at the time until the actual details came out. At that point we were battling relegation to league one, had a squad filled with crap and generally everything was headed in the wrong direction. I don't blame anyone for being excited about the prospect of one of the richest men in the UK at the time being keen to get involved.

[PurpleCanary 5,580]

3 hours ago, Christoph Stiepermann said:

We're still in the early stages, nothing is guaranteed yet and a lot could still go wrong if one party decides to change their mind. it's also worth mentioning however that this isn't going to radically change the club in the way that some supporters are imagining, we're not going to suddenly be flush with cash because these guys just aren't that rich by PL owner standards and when we do get to the PL again any investor like this is going to want a return on their investment. What it might mean if it does go through is that we can take a few more risks upon promotion, we won't have to tale out a loan to be able to use the full amount of TV money in the summer which cut our budget with interest and maybe won't have to sell our best player next time. We won't be splashing the cash that's for sure it doesn't appear to be in these potential new owners ethos or even financial capability. 

I doubt we are in the early stages. They would not have sent seven people over, including Attanasio, unless talks were pretty far advanced. But you're right that the proposed deal could still collaps

 

 

Edited May 29, 2022 by PurpleCanary

[shefcanary 2,444]

5 minutes ago, PurpleCanary said:

I doubt we are in the early stages. They would not have sent seven people over, including Attanasio, unless talks were pretty far advanced. But you're right that the prosed deal could still collapse.

Agreed Purple.  That was quite a show of strength, they would have known it would have been a very public show as well.  They would not have broke cover if details were still at a formative stage, there must have been confidence on both parties for it being so public.  Interesting too that neither party has formally responded to the story, perhaps keeping their heads down whilst looking through the final details, probably round a big board table in London somewhere.  Takes me back to earlier days in my career ....   

[hogesar 9,722]

30 minutes ago, king canary said:

I think that's very harsh.

Lots of people were excited at the time until the actual details came out. At that point we were battling relegation to league one, had a squad filled with crap and generally everything was headed in the wrong direction. I don't blame anyone for being excited about the prospect of one of the richest men in the UK at the time being keen to get involved.

I'm instinctively harsh whenever DCB posts something and 90% of the time it was the right call 🙃

Maybe I'm remembering it differently but I thought the Cullumgate stuff came apparent quite early on.

[Ken Hairy 3,779]

From what I recall neither deal ever looked like happening did they? I personally, as someone who has long since suggested we should be looking for extra/alternative investment didn't get excited by either prospect. 

[hogesar 9,722]

11 minutes ago, Ken Hairy said:

From what I recall neither deal ever looked like happening did they? I personally, as someone who has long since suggested we should be looking for extra/alternative investment didn't get excited by either prospect. 

Thats what I thought. The Turners were only ever talked about in small money relatively anyway. Maybe I'm just remembering it all wrong!

This is the first genuine, plausible prospect I can recall. 

[Mark .Y. 352]

4 hours ago, cambridgeshire canary said:

Barnsleys owners are worth billions. Just you know, saying.

Michael Eisner at Portsmouth isn't short of a bob or two either.............

[king canary 7,654]

5 minutes ago, hogesar said:

Thats what I thought. The Turners were only ever talked about in small money relatively anyway. Maybe I'm just remembering it all wrong!

This is the first genuine, plausible prospect I can recall. 

The Turners did actually invest didn't they? Loaned us £2m, got a seat on the board then withdrew the loan not long later without much in the way of an explanation.

[pete 320]

If the deal falls through the ire will definitely fall at Delia's door irrespective whose fault.  This season being so poor and now requiring serious investment for as tilt at the Champs, not hundreds of millions but maybe £30m, self funding will not do.  As Delia was given the major shareholding just hope she is reasonable with any demands.  The interest coming from the US is a take over not just investment of a few dollars.  At her age does she want to be held responsible Club Presidency for Smith and Jones and Tom a Director will probably do it.

Excited to see the back of Delia, hoping it will happen.

[Nora's Ghost 157]

It won't happen.

 

They will fail the 'proper Norwich fan' test like all the rest and it will be a case of 'Mother knows best' much to the delight of her admiring clappies.

 

Same again next year then.

[hogesar 9,722]

35 minutes ago, king canary said:

The Turners did actually invest didn't they? Loaned us £2m, got a seat on the board then withdrew the loan not long later without much in the way of an explanation.

Yes 2m sounds about right but I dont think it was ever 'exciting' from a fans point of view was it?

[king canary 7,654]

2 minutes ago, hogesar said:

Yes 2m sounds about right but I dont think it was ever 'exciting' from a fans point of view was it?

No it wasn't, nothing remotely game changing about it. Always interested to know why they backed out so quickly though.

[Ken Hairy 3,779]

53 minutes ago, hogesar said:

Thats what I thought. The Turners were only ever talked about in small money relatively anyway. Maybe I'm just remembering it all wrong!

This is the first genuine, plausible prospect I can recall. 

Wasn't the Turners a £2million loan? Was never major investment or ever a potential road to a takeover 

EDIT : I see Kingy has already clarified that 👍

Edited May 29, 2022 by Ken Hairy

[littleyellowbirdie 2,577]

22 minutes ago, pete said:

If the deal falls through the ire will definitely fall at Delia's door irrespective whose fault.  This season being so poor and now requiring serious investment for as tilt at the Champs, not hundreds of millions but maybe £30m, self funding will not do.  As Delia was given the major shareholding just hope she is reasonable with any demands.  The interest coming from the US is a take over not just investment of a few dollars.  At her age does she want to be held responsible Club Presidency for Smith and Jones and Tom a Director will probably do it.

Excited to see the back of Delia, hoping it will happen.

I think you'll find Delia and Michael paid money to acquire the major shareholding. 

You might be right that it could turn into a takeover down the line, but as it is, they're putting capital into a business with a proven track record of winning promotion from the Championship, so it doesn't really make sense for them to want to throw their weight around at this point. 

Edited May 29, 2022 by littleyellowbirdie