Looks Like Delia Won't Let Go

[g00se 21]

According to Waghorn''s site, under PLC rules, he cannot just buy out Delia. If he''s to by more the 39% he has to offer on ALL shares in the company. So that includes all board shreholders, Turners included. And I guess all us individual 1p shareholders only who bought up in 2003-odd.

[Faded Jaded Semi Plastic SOB 1,036]

Much as the headlines are potential good news, it does seem to me that the words of Delia are coming back to bite her on the bum. If I am not mistaken she said at the Shareholders Meeting that if someone came along to put money into the club, providing they were the right person then she and hubby would step aside. Now it would appear that an investor who ticks all the boxes put an offer in some nine months ago, who is also happy for her to stay on, the inevitable question has to be why has Delia not stepped aside?. Before I get flamed by all and sundry I have no axe to grind with Delia.

[Hardhouse44 261]

It would seem we could have had £5m to spend when we were bottom of the league. We could have bought Taylor and still had a bucket load of change. We Instead scraped to safety with a great deal of luck and on a wing and a prayer.Or is that wrong did we indeed do a remarkable job of rising from the ashes and turn the impossible in to reality.Either way Delia had a lot of balls to turn down that offer. Will she now turn down the latest. To do so could spell the end of her love affair with this club and it incredibly loyal fans.£20m for player. Sound like a no brainer from most fans point of view. Spent wisely it''s more, much more that enough to get you out of this tin pot league. Question is, is it enough to get Delia out of this club. Because no matter how much Mr Cullum might say the Delia will remain as a figure head we are really talk about the end of her reign.Will she deny us our chance of glory. Could even Delia drink enough to drown out the chants if she says no and we fail miserably again. I don''t think she we have much choice in the end.

[macdougalls perm 0]

[quote user="Sons of Boadicea"]Much as the headlines are potential good news, it does seem to me that the words of Delia are coming back to bite her on the bum. If I am not mistaken she said at the Shareholders Meeting that if someone came along to put money into the club, providing they were the right person then she and hubby would step aside. Now it would appear that an investor who ticks all the boxes put an offer in some nine months ago, who is also happy for her to stay on, the inevitable question has to be why has Delia not stepped aside?. Before I get flamed by all and sundry I have no axe to grind with Delia.[/quote]

No, I totally agree with you - but I do think that it is obvious at the moment that we only have a very partial picture of the situation. Probably at least fair to wait for their reaction to this before we ''bring out the knives'' so to speak.

[First Jedi 0]

It''s not a case of "stepping aside"... if Cullum offers her £5 for all her shares, she isn''t going to go - she isn''t going to "step aside"... as he says - they disagree on the value of the club. Regardless of the PR exercise.

[woody 0]

Read this before going mental...... http://norwichcity.myfootballwriter.com/full_article.asp?i=3632

[Faded Jaded Semi Plastic SOB 1,036]

Woody - I am not "going mental" and I agree with Maccy D about judging before the all the facts are out. That said the offer was not made last week, but 9 months ago, I suggest that is long enough to have sorted something out. For me the I can see that Mr Cullum has made his offer public out of frustration. Lets hope that Delias other statement (made at the Royal Norfolk Show) that there is "loads of investment" is true.....

[The Fish Seller 0]

Secondly, she isn''t leagues behind other TV chefs.She clocked up 4.5m viewers for her last series first episode, Ramsey only 3.5m Also supermarkets reported a huge increase in sales of products she used in her last book/series (google is wonderful isn''t it, and you don''t need special wizarding powers).  Try googling Sara Kozak then, she''s a friend of mine.(Exec Producer and Commisioning ed for BBC). Told me in 1999 Delia was "so yesterday 9:30 BBC2 material" instead of the primetime BBC1 shows they commisioned with Ainsley and Co Ainsleys barbecue bible was a bigger commercial success by far. Not my view, the view of a commisioning Editor at the BBC you understand.The internet is a useful place for info admittedly but someties you gotta get out there yourself and get it first hand. I really really don''t understand why any Norwich fan would want to take EVERY opportunity to slag off Delia, as some people on this message board do. Its pathetic. She has stumped up millions of her own cash, and when we really needed the money and Watling went asking for it, Delia and her husband not only gave the money but huge amounts of her time too. Whilst other clubs have been in and out of administration, sold their grounds, made huge increases in ticket prices, Delia and the board have stabilised the club''s finances and put us on an even keel. Her biggest failing is that she just isn''t rich enough to bankroll the club the way we all would like. She lives and breathes Norwich City like we all do, but some choose to put her down at every opportunity and usually without letting facts get in the way.

Because she hasn''t stumped up cash, she invested every last penny of it in shares.I can''t remember her putting in anywhere near £10m of her money yet that seems to be the kind of value she puts on her shareholding. I critiscise her because she publicly pretends to be altruistic yet is privately maximising her investment to the detriment of my Club.Would you have taken Marcus Evan''s money?No. Would you take Cullum''s money under the same terms Ipswich took Evans'' money? Not relevant.Under what circumstances would you NOT take money, if you were in Delia''s place? (Assuming you mean Cullums money)If all I wanted was to make money for myself out of my investment in NCFC. There could be no other reason that could be in any way justified as being for the good of the Club.Cullum has called Delias Bluff here. He''s espoused the myth that investment isn''t out there and he qualifies under all the criteria Delia set.Your move Delia.We''ve a respectable local businessman here wants to plough large amounts of money into our Club knowing he''s unlikely to get much return on it. What''s not to like?

[Show Me What You Gooot! 0]

Simple statement from me:

Delia, the fans want you to accept the offer. Mr Cullum has said you can still remain figure head. You''re losing nothing and gaining £20mill.

PLEASE ACCEPT THE OFFER WHILST ITS THERE!!!

Thankyou.

Paint Me Yellow

[InLambertWeTrust! 0]

[quote user="BigFish"]

Now, now, calm down. This is one occasion when we could all learn something from our friends down the wrong end of the A140. Remember when they were all jumping up and down saying how much richer they were than us when Marcus Evans "£30m" take over happened. Turned out that he only paid £3.8m of that for the entire club and the rest was various degrees of loans. For them it was alright as they had already shafted their suppliers with receivership so doing the same to the shareholders was not a great leap. Now if Cullum''s "£20m" includes buying out Smith and Jones for a similar figure when they have pumped in £12m is there any supprise that it didn''t progress.

Now if Cullum is a) as rich as he says he is and b) as much of a fan as he says he is why didn''t he come back with an offer more in keeping with the true value/needs of the club. Say pay off the debt £20m, buy out the shareholders at the value they put in £20m and then strengthen the team £20m.

Or is he trying to make a quick buck like Marcus Evans?

[/quote]

Superb mate

[woody 0]

Why? There is no real detail at all. £20 million doesn''t actually mean much if it''s for the whole club, shares, debts, and new players. Nowhere does it actually say £20 million is for players.

[Mr.Carrow 378]

[quote user="ron obvious"][quote user="Smudger"]

Would agree with you that Delia is a brand Jim, but a brand that has done very well for herself off the back of her dealings with NCFC not vice versa I think you will find.

Delia needs NCFC more than NCFC needs Delia.

[/quote]

You are clinically insane.
I''m dialling 999 as we speak.
[/quote]

No, he`s right and you can`t face it.

[Mr.Carrow 378]

[quote user="Big Down Under"][quote user="Smudger"][quote user="Jim Smith"]

Sorry but any businessman worth their salt would most definitely want Delia around. She is a brand that is extremely important for the club and if i was buying su I would want to make sure she remained at carrow Road to front up the restaurants/catering and to help out on the commercial side of things.

The key element her is "control," how much Cullum is offering Delia and MWJ to gain control and how happy they are to step aside and let someone else take the reigns.

 

[/quote]

Would agree with you that Delia is a brand Jim, but a brand that has done very well for herself off the back of her dealings with NCFC not vice versa I think you will find.

Delia undoubtedly has a big ego and an ego that many other possible investors would not want to work with.

The fact that Peter Callum has offered Delia and MWJ''s the opportunity to stay on at the club if the deal goes through obviously shows that he agrees that they have much to offer the club on the commercial/catering side.

However, I get the impression that he is also of the thinking that this deal can go through with or without Delia''s blessing.

Delia needs NCFC more than NCFC needs Delia.

Delia isn''t a stupid lady and she has realised this more and more over the last few years.

[/quote]

Utter crap. Delia is a huge brand in her own right. If you ask the average person in the High St (not in East Anglia) what they associate with Delia, they will say cooking NOT Norwich City. She was hugely successful before she joined the club, and still is.

From the look of the EDP article, Cullum (informally don''t forget) offered to take majority control, i.e. run the club, but leave Delia as figurehead. I wouldn''t want to be the figurehead of the club and have to defend someone elses decisions, why should she? Also note that Cullum says he was tapped up by Charles Clark - do you really think Charles Clark would go around seeking NCFC investment without the board fully knowing and agreeing? In other words, effectively the board approached Cullum. Kind of ruins the theory that Delia has a death grip on the club, don''t you think?
[/quote]

That really is desperate stuff BDU.  Why on earth would a City-supporting M.P. have to clear it with the board before encouraging a wealthy individual he knows to invest?  If you honestly believe that then words fail me.

[Niche 0]

[quote user="fleckmatic"]According to Waghorn''s site, under PLC rules, he cannot just buy out Delia. If he''s to by more the 39% he has to offer on ALL shares in the company. So that includes all board shreholders, Turners included. And I guess all us individual 1p shareholders only who bought up in 2003-odd.[/quote]It''s been a good while since I last looked at City Rules, but I thought that if the acquisition of shares was from a single party that already held a controlling interest, then you could apply to the Takeover Panel for dispensation to not have to make a full offer. Otherwise you''d endlessly be delisting companies with controlling shareholders who sought to sell.Could be completely wrong though, as I say it''s been a good while, and I''m not even sure what level the Smiths shareholding is currently at.

[Buncey 1]

[quote user="woody"]Why? There is no real detail at all. £20 million doesn''t actually mean much if it''s for the whole club, shares, debts, and new players. Nowhere does it actually say £20 million is for players.[/quote]Well the pinkun begs to disagree:"Norfolk-born businessman Peter Cullum has revealed that he wants to

help the club and put in up to £20m to buy players and launch a “strong

challenge” for promotion to the Premier League."Now of course, nobody actually knows the whole facts except from Cullum himself. I think Mr. Carrow or perhaps somebody else had an estimation of the value of the club and it was around £12 million (that said I can''t say that for definite, no doubt somebody could tell me a more accurate figure)However, what I do think people are getting wrong is that he under-valued the club. Nowhere does it say that is the reason delia did not accept his offer. All business deals involve dialogue to find the price both parties agree on. That is not sufficent reason to believe that Delia did not accept the bid, due to this alone. I very much doubt a shrewd businessman like Peter Cullum would wage in with a very unreasonable evaluation and not change it. After all in the article it states that he understands he is unlikely to get a return on his money that he invests on the pitch.

[Syteanric 1]

Peter Cullum is a billionair business man, he isnt stupid.

He knows full well if he goes publ;ic about his rejection, and the club have a bad season he is going to get public support on his side... the Current Regime then "hit the iceberg" if the term is right... its just a matter of time then...

Theres an old saying "when faced with the window do you jump before you get pushed". failure on the pitch this season will answer that question.

jas :)

[Tumbleweed 106]

One thing would solve this. If Cullum is genuine he could go on local TV and say "I will buy Delia''s shares in NCFC at a fair value to be determined by an independent expert if necessary AND I will inject £20m as ordinary share capital into the club on completion in order to fund new players". Its not a listed company although it is a PLC.

So rather than force Delia out in blind hope of something which may or may not be better why don''t you ask this so-called investor to put up or shut up? If he has the money and the intention then fine, otherwise he''s trying to get this on the cheap. I don''t care who controls this club as long as they are genuine and going to have its long term interests at heart.

Ignoring all the other holes in the statements and press reports, has he actually said that the purported £20m won''t be by loan, which would otherwise thereby saddle us with even more debt?

Its really very easy for Cullum to clear this all up.

[blahblahblah 2]

[quote user="Tumbleweed"]

So rather than force Delia out in blind hope of something which may or may not be better why don''t you ask this so-called investor to put up or shut up? If he has the money and the intention then fine, otherwise he''s trying to get this on the cheap. I don''t care who controls this club as long as they are genuine and going to have its long term interests at heart.

[/quote]

I suspect that his money is tied up elsewhere, in the charitable trusts, in assets, in his companies.  He probably does have 20 million knocking around, which he can use without impacting his other projects.  He might not have 35-40 million, which would probably be closer to the required price. 

He probably also enjoys making the deal as camuldonum mentioned earlier, he is known for getting good value for his money.

[BigFish 1,988]

[quote user="blahblahblah"][quote user="Tumbleweed"]

So rather than force Delia out in blind hope of something which may or may not be better why don''t you ask this so-called investor to put up or shut up? If he has the money and the intention then fine, otherwise he''s trying to get this on the cheap. I don''t care who controls this club as long as they are genuine and going to have its long term interests at heart.

[/quote]

I suspect that his money is tied up elsewhere, in the charitable trusts, in assets, in his companies.  He probably does have 20 million knocking around, which he can use without impacting his other projects.  He might not have 35-40 million, which would probably be closer to the required price. 

He probably also enjoys making the deal as camuldonum mentioned earlier, he is known for getting good value for his money.

[/quote]

I think that this hits the nail on the head - perhaps it is time for him to put up or shut up[:)]

[InLambertWeTrust! 0]

If Delia rejects this then I expect (hope) that there will be uproar at Carrow Road amongst the fans

 

[8] we want Delia out [8] springs to mind..

[Tangible Fixed Assets anyone? 0]

[quote user="fleckmatic"]According to Waghorn''s site, under PLC rules, he cannot just buy out Delia. If he''s to by more the 39% he has to offer on ALL shares in the company. So that includes all board shreholders, Turners included. And I guess all us individual 1p shareholders only who bought up in 2003-odd.
[/quote]

First its 29.9% not 39%.

Secondly NCFC Plc is not listed so I dont think this takeover rule applies.

[Tangible Fixed Assets anyone? 0]

[quote user="ob1"]It''s not a case of "stepping aside"... if Cullum offers her £5 for all her shares, she isn''t going to go - she isn''t going to "step aside"... as he says - they disagree on the value of the club. Regardless of the PR exercise.
[/quote]

May I suggest you have a look at the Delia & MWJ shares thread.

[Smudger 0]

[quote user="BigFish"]

Now, now, calm down. This is one occasion when we could all learn something from our friends down the wrong end of the A140. Remember when they were all jumping up and down saying how much richer they were than us when Marcus Evans "£30m" take over happened. Turned out that he only paid £3.8m of that for the entire club and the rest was various degrees of loans. For them it was alright as they had already shafted their suppliers with receivership so doing the same to the shareholders was not a great leap. Now if Cullum''s "£20m" includes buying out Smith and Jones for a similar figure when they have pumped in £12m is there any supprise that it didn''t progress.

Now if Cullum is a) as rich as he says he is and b) as much of a fan as he says he is why didn''t he come back with an offer more in keeping with the true value/needs of the club. Say pay off the debt £20m, buy out the shareholders at the value they put in £20m and then strengthen the team £20m.

Or is he trying to make a quick buck like Marcus Evans?

[/quote]

hahaha so Delia is on the make is she?

Rumoured intial investment of £8million suddenly turns in to £20million now does it???

[ricardo 7,396]

[quote user="Mr.Carrow"][quote user="ron obvious"][quote user="Smudger"]

Would agree with you that Delia is a brand Jim, but a brand that has done very well for herself off the back of her dealings with NCFC not vice versa I think you will find.

Delia needs NCFC more than NCFC needs Delia.

[/quote]

You are clinically insane.
I''m dialling 999 as we speak.
[/quote]

No, he`s right and you can`t face it.

[/quote]

Either way, she is now toast.

Dead woman walking.

She has made many statements about giving up control to a sensible offer and Cullum''s offer has ticked every box.

She has to either give in gracefully or face the wrath of the fans.

[ricardo 7,396]

[quote user="Smudger"][quote user="BigFish"]

Now, now, calm down. This is one occasion when we could all learn something from our friends down the wrong end of the A140. Remember when they were all jumping up and down saying how much richer they were than us when Marcus Evans "£30m" take over happened. Turned out that he only paid £3.8m of that for the entire club and the rest was various degrees of loans. For them it was alright as they had already shafted their suppliers with receivership so doing the same to the shareholders was not a great leap. Now if Cullum''s "£20m" includes buying out Smith and Jones for a similar figure when they have pumped in £12m is there any supprise that it didn''t progress.

Now if Cullum is a) as rich as he says he is and b) as much of a fan as he says he is why didn''t he come back with an offer more in keeping with the true value/needs of the club. Say pay off the debt £20m, buy out the shareholders at the value they put in £20m and then strengthen the team £20m.

Or is he trying to make a quick buck like Marcus Evans?

[/quote]

hahaha so Delia is on the make is she?

Rumoured intial investment of £8million suddenly turns in to £20million now does it???

[/quote]

Well hush your mouth Smudge.

The Percy''s are grabbing at straws.

I dare you to say "I told you so".

[ncfcstar 292]

"Either way, she is now toast."

You''re right, money talks with most fans, and if Delia doesn''t come out and accept this offer (however long the actual takeover will take), or actually release some sort of statement within the next 24 hours her position will become untenable. We all want to see our club going somewhere, and with this amount of money, money that none of the current board can offer, we can go some way to that goal.

[ricardo 7,396]

[quote user="ncfcstar"]"Either way, she is now toast." You''re right, money talks with most fans, and if Delia doesn''t come out and accept this offer (however long the actual takeover will take), or actually release some sort of statement within the next 24 hours her position will become untenable. We all want to see our club going somewhere, and with this amount of money, money that none of the current board can offer, we can go some way to that goal.[/quote]

Glad I''m not the only one who can see this.

She might not like it but unless she can magic up another, better offer from somewhere then she is history.

I only hope it doesn''t turn out to be a long and bitter struggle but the longer she dithers the worse it will get.

[Tumbleweed 106]

She might be a piece of bread, but not toast yet as its far from clear (a) how much (if any) money will actually go on players and (b) that the money won''t be expensive long term debt.

[Barclay_Boy 0]

[quote user="C.T"]

If Delia rejects this then I expect (hope) that there will be uproar at Carrow Road amongst the fans

 

[8] we want Delia out [8] springs to mind..

[/quote]

you would really think so wouldn''t you, but judging by a few of the comments posted on here there are still some people who want to remain as "little norwich". Really you couldn''t make it up!

[xxxx 0]

Norfolk-born businessman Peter Cullum has revealed that he wants to

help the club and put in up to £20m to buy players and launch a

“strong challenge” for promotion to the Premier League.To me that says he will put in up to £20 million for players.If all Delia has to offer is a few freebies and cheap signings then its time for her to go , if she has found other investment that matches this offer then she can stay . If she does not sell she will have to pray Roeder gets the right results next season .