cambridgeshire canary 7,770 Posted August 12 (edited) Edited August 12 by cambridgeshire canary Share this post Link to post Share on other sites
Canary Wundaboy 1,423 Posted August 12 Yaaaaaas get it done! Share this post Link to post Share on other sites
king canary 8,734 Posted August 12 Wow! That came out of the blue. I know it was expected at some point but not this quickly. Share this post Link to post Share on other sites
cambridgeshire canary 7,770 Posted August 12 1 minute ago, Grumpy Old Man said: 😳 Are you ready for life president Delia smith? Share this post Link to post Share on other sites
Midlands Yellow 4,682 Posted August 12 Hallelujah, the handover time period was ridiculous and unnecessary.The Empire State Building went up twice as fast. 1 Share this post Link to post Share on other sites
king canary 8,734 Posted August 12 Just now, cambridgeshire canary said: Are you ready for life president Delia smith? Are you ready for CC not understanding something he's read? 5 Share this post Link to post Share on other sites
Grumpy Old Man 16 Posted August 12 Rather depends what a 'life president' gets to do! Perhaps some claret-fuelled 'cheerleading'? 1 Share this post Link to post Share on other sites
TIL 1010 5,228 Posted August 12 History has been made. 1 Share this post Link to post Share on other sites
Soldier on 285 Posted August 12 Debt free changes the dynamic. Certainly for next season anyway . Good news . Share this post Link to post Share on other sites
Jim Smith 2,578 Posted August 12 Good news and fair play to Delia and MWJ for allowing MA and Norfolk Holdings to step in. I wonder if Saturday was a light bulb moment for them in terms of finally making that jump or at least bringing it forward. Shame we couldn’t do this in the summer before flogging Sara and anyone else who goes. Share this post Link to post Share on other sites
Ward 3 476 Posted August 12 3 minutes ago, Grumpy Old Man said: Rather depends what a 'life president' gets to do! Perhaps some claret-fuelled 'cheerleading'? Just drink through profits 🤣. Thanks to Delia though. I know people have slated her and MWJ but if it wasn't for them what would the club look like? Couldve been sold years ago and be a very well established PL team or could've been a Bradford situation for example. Here is to a new era at NCFC 💚💛 1 Share this post Link to post Share on other sites
Jsim1986 188 Posted August 12 (edited) Fair play to them , they aren't taking a penny from the sale and it wipes out all the clubs debt, say what you want about them but that's amazing, not many people would do that and I am very grateful as a fan for them doing that. Edited August 12 by Jsim1986 30 2 Share this post Link to post Share on other sites
Payno10 52 Posted August 12 Can someone explain this to a mind of 6 year old! Trying to understand it, but does it mean we can now go and buy who ever we want with the American big bucks? Share this post Link to post Share on other sites
Feedthewolf 5,885 Posted August 12 (edited) If I'm correct, if a majority shareholder reaches 90% shareholding, they have to automatically buy out the remaining 10% and take full control, yes? If so, one presumes it's a symbolic 10% that D&M are retaining (and then passing down to Tom), to ensure that the club always remains at least partially owned by local investors? Edited August 12 by Feedthewolf 2 Share this post Link to post Share on other sites
Soldier on 285 Posted August 12 1 minute ago, Jim Smith said: Good news and fair play to Delia and MWJ for allowing MA and Norfolk Holdings to step in. I wonder if Saturday was a light bulb moment for them in terms of finally making that jump or at least bringing it forward. Shame we couldn’t do this in the summer before flogging Sara and anyone else who goes. Don’t think it would have changed that dynamic Jim due to FFP rules that sale was still necessary . Potentially puts us in a good place for this time next year though. Share this post Link to post Share on other sites
king canary 8,734 Posted August 12 3 minutes ago, Jim Smith said: Good news and fair play to Delia and MWJ for allowing MA and Norfolk Holdings to step in. I wonder if Saturday was a light bulb moment for them in terms of finally making that jump or at least bringing it forward. Shame we couldn’t do this in the summer before flogging Sara and anyone else who goes. Things like this don't happen overnight, there is a zero percent chance this is anything to do with Saturday. 3 1 Share this post Link to post Share on other sites
Wimbledoncanary 37 Posted August 12 So with the 'debt' converted to shares we are financially solvent again 😳. Surly less pressure to sell players etc ? Share this post Link to post Share on other sites
Peregrine Shorts 517 Posted August 12 come on Essex...it's time to try and p*ss on everyone's parade 10 Share this post Link to post Share on other sites
Badger 2,745 Posted August 12 Presumably we will get a financial update as shareholders? Share this post Link to post Share on other sites
shefcanary 2,937 Posted August 12 I wondered why the Pink'Un Q&A came to an abrupt end! 🤣 Seriously though, this news, although earlier than I thought would occur, follows the path I anticipated, only I didn't expect it until the 3 year concord had ended. Smith & Jones will retain a golden share of 10% to act as a potential block on what happens next. It will be interesting to see what happens to the other 5% of minority shares (don't get your hopes up Essex!). Interesting now that the takeover is escribed as being by Norfolk Holdings and not Attanasio himself. No more filing **** ups this time we hope. The new dawn starts now. Wasn't due to something that happened on Satirday was it? Share this post Link to post Share on other sites
shefcanary 2,937 Posted August 12 5 minutes ago, Payno10 said: Can someone explain this to a mind of 6 year old! Trying to understand it, but does it mean we can now go and buy who ever we want with the American big bucks? No, the yanks don't do that. However expect many more £3-5 million acquisitions and regular sales of players in the £20m+ bracket. Plenty of scope for arguments on here! 1 Share this post Link to post Share on other sites
hogesar 10,699 Posted August 12 Unbelievable generosity from Delia and MWJ. I can't imagine any of the fans who've criticised them over the years would be as willing to turn away so much potential individual wealth. 19 Share this post Link to post Share on other sites
In my blood 106 Posted August 12 Very interesting news indeed. Share this post Link to post Share on other sites
TIL 1010 5,228 Posted August 12 What a day this is for The Guild of Fag Packet Accountants @nutty nigel 2 Share this post Link to post Share on other sites
Robert N. LiM 6,174 Posted August 12 Was always going to be quicker than the three years. Feels like a very necessary step given the realities of football finance. As foreign billionaires go, think we've got a good one. Sue me, but I still think it's a very sad day. I loved that we were trying to do different and am sad that our attempt failed, though we did get very close at times and in some style. Our 122-year history as a fan-owned club is at an end. 3 Share this post Link to post Share on other sites
Jim Smith 2,578 Posted August 12 5 minutes ago, king canary said: Things like this don't happen overnight, there is a zero percent chance this is anything to do with Saturday. I’m sure this arrangement was always the long term plan so work will have been ongoing but this does appear to have been brought forward. Ultimately who cares why but I still think events on Saturday could have played a part. Anyway this should give everyone a boost at a time we need it. Share this post Link to post Share on other sites
shefcanary 2,937 Posted August 12 6 minutes ago, Feedthewolf said: If I'm correct, if a majority shareholder reaches 90% shareholding, they have to automatically buy out the remaining 10% and take full control, yes? If so, one presumes it's a symbolic 10% that D&M are retaining (and then passing down to Tom), to ensure that the club always remains at least partially owned by local investors? Yes, I think maybe one reason why it has taken so long is finding a mechanism for Smith & Jones to be comfortable with the future to ensure the club didn't just become like say WBA who seemingly get sold every season, but never to anyone who really cares about the club. I see this 10% eventually being left to a trust governed by high profile local people, to carry on Smith & Jones wishes. 4 Share this post Link to post Share on other sites
Canary Wundaboy 1,423 Posted August 12 Interestingly enough, I note that Tom Smith remains on the board, and Norfolk Holdings have also appointed Richard Ressler to the board who’s worth big bucks. 1 Share this post Link to post Share on other sites
Up and Away 91 Posted August 12 At face value, this could be good news. We do though need to read the small print. - Debt being converted to preference shares? How much interest will NH charge on these, if any? Their previous £10m loan is costing 7% per annum on the preference shares issued. - NH do not need to convert many of the preference shares to voting shares to assume majority control. Need to work out how many. I have been sceptical of NH for acquiring 40% for just £8m. Have they mugged the old people again. - More importantly, what additional monies will the new majority owners invest? All will be answered once the paperwork is published. 1 Share this post Link to post Share on other sites