Speak to a guy called Peter

[milan marcus 0]

I really do not understand Delia, the board and some of the posters on this forum. 

PC does not want to buy out the existing investors nor should he have to.  He simply wants to invest £20 million pounds which would then by the size of the investment make him the biggest shareholder thus giving him control by default – it is very clear and simple.

Delia, the club and some posters on here simply cannot comprehend what a fantastic deal this is for everyone connected to the club and look likely by their attitude and one of the most pathetic press release written (suggesting PC needs £56 million to buy a club that nearly got relegated) to drive a genuine billon pound investor away from the club.

Let me dispel the myth being peddled by Delia and her loyal fans on this site that he needs to buy her out if he wants to take control. 

No he does not.... if Delia loved this club like she says she could simply allow PC to take control of the club i.e. 45% Delia and other shareholders and PC gets 55%.  In return PC agrees to invest £20 million into the club to be used for players.  To say it’s the rules etc is twaddle...if the board wanted it to happen then resolutions could be passed and structures found.  If you need to know how to structure deals and make things work then I suggest the board talks to a guy called Peter before sending out bitter press releases.

They should be sitting in a boardroom right now hammering out the deal which would secure our future and give us real hope of a return in the near future to the premiership.  Instead we have a bitter twisted response from the board asking for £56 million pounds to take over the club!  It is so wrong yet people seem to accept Delia and the board as all powerful and nobody can question their wisdom.

If we fail to secure PC as an investor then hang your head in shame for Norwich will never get another opportunity to compete in the new commercial world of football where money talks and the rest will walk (or post on this forum)

Only in Norfolk could we find it in ourselves to drive a billion pound investor from the club using such a range of myth, fear and insecurity.

 

 

[Citizen Journalist Foghorn 0]

Absolutely.  In fact Delia invested much of her money into the club in the manner desribed above, by creating new shares, normally converting loans into them. Not by actually buying others shares

[Camuldonum 0]

[quote user="milan marcus"]

I really do not understand Delia, the board and some of the posters on this forum. 

PC does not want to buy out the existing investors nor should he have to.  He simply wants to invest £20 million pounds which would then by the size of the investment make him the biggest shareholder thus giving him control by default – it is very clear and simple.

Delia, the club and some posters on here simply cannot comprehend what a fantastic deal this is for everyone connected to the club and look likely by their attitude and one of the most pathetic press release written (suggesting PC needs £56 million to buy a club that nearly got relegated) to drive a genuine billon pound investor away from the club.

Let me dispel the myth being peddled by Delia and her loyal fans on this site that he needs to buy her out if he wants to take control. 

No he does not.... if Delia loved this club like she says she could simply allow PC to take control of the club i.e. 45% Delia and other shareholders and PC gets 55%.  In return PC agrees to invest £20 million into the club to be used for players.  To say it’s the rules etc is twaddle...if the board wanted it to happen then resolutions could be passed and structures found.  If you need to know how to structure deals and make things work then I suggest the board talks to a guy called Peter before sending out bitter press releases.

They should be sitting in a boardroom right now hammering out the deal which would secure our future and give us real hope of a return in the near future to the premiership.  Instead we have a bitter twisted response from the board asking for £56 million pounds to take over the club!  It is so wrong yet people seem to accept Delia and the board as all powerful and nobody can question their wisdom.

If we fail to secure PC as an investor then hang your head in shame for Norwich will never get another opportunity to compete in the new commercial world of football where money talks and the rest will walk (or post on this forum)

Only in Norfolk could we find it in ourselves to drive a billion pound investor from the club using such a range of myth, fear and insecurity.

 

 

[/quote]

 

Whether in Norfolk or not that''s a fantastic grasp of  Takeover Law.

Absolutely Awesome.

Wass the bottom dropped owt?

I think it may have done.

[Camuldonum 0]

[quote user="Citizen Journalist Foghorn"]Absolutely.  In fact Delia invested much of her money into the club in the manner desribed above, by creating new shares, normally converting loans into them. Not by actually buying others shares
[/quote]

 

Go on, Mr Rankin, tell us about takeover law.

The floor is yours.

[milan marcus 0]

Camuldonum,

If you know more about takeover law than PC then fill your boots however if this applies to you "using such a range of myth, fear and insecurity" then get those boots and keep walking.  This deal is no different to any other and for people to keep quoting takeover law as if they are Gordon Gecko make me laugh. 

Leave the law for the experts and accept that if the board wanted a friendly takeover then PC could make something work very quickly.  Instead the board want to cling onto power unless they get a stupid amount of money for shares they have put their own value on.  Who says their shares are worth £30 share?  Very sad and very greedy.

[Camuldonum 0]

[quote user="milan marcus"]

Camuldonum,

If you know more about takeover law than PC then fill your boots however if this applies to you "using such a range of myth, fear and insecurity" then get those boots and keep walking.  This deal is no different to any other and for people to keep quoting takeover law as if they are Gordon Gecko make me laugh. 

Leave the law for the experts and accept that if the board wanted a friendly takeover then PC could make something work very quickly.  Instead the board want to cling onto power unless they get a stupid amount of money for shares they have put their own value on.  Who says their shares are worth £30 share?  Very sad and very greedy.

[/quote]

The bottom clearly has dropped owt. 

 

 

 

[Big Down Under 0]

Whatever the rules on Takeover (of course he has to get the shares to take control!), the main point you and others seem to be making is "If Delia loves the club so much, why does she want to get her money out / make a profit?"Currently, Cullum has offered little or nothing for the actual club, but has offered up to 20m on players. So he gets a well run, well supported club who own their own excellent infrastructure for very very little. Great deal for him. He would effectively be profiting on all the money the Board have put into the club over the last 12 years, leaving them with nothing. Why should Delia line someone elses pockets with her own hard earned cash? Especially someone whose wealth is so much larger than hers. A considerable amount of her personal wealth is in the club, she is happy to do that so long as its for the good of the club, but she is baulking at letting her money make PC even richer and I don''t blame her.20m is PC''s starting price, 56m the boards, lets see where they end up. Come on PC bid a reasonable amount, come on Delia accept it, lets move on.

[nu_matik 167]

[quote user="Big Down Under"]Whatever the rules on Takeover (of course he has to get the shares to take control!), the main point you and others seem to be making is "If Delia loves the club so much, why does she want to get her money out / make a profit?"

Currently, Cullum has offered little or nothing for the actual club, but has offered up to 20m on players. So he gets a well run, well supported club who own their own excellent infrastructure for very very little. Great deal for him. He would effectively be profiting on all the money the Board have put into the club over the last 12 years, leaving them with nothing.

Why should Delia line someone elses pockets with her own hard earned cash? Especially someone whose wealth is so much larger than hers. A considerable amount of her personal wealth is in the club, she is happy to do that so long as its for the good of the club, but she is baulking at letting her money make PC even richer and I don''t blame her.

20m is PC''s starting price, 56m the boards, lets see where they end up. Come on PC bid a reasonable amount, come on Delia accept it, lets move on.
[/quote]

i agree..meet in the middle somewhere, say..£38 million, and lets be getting on with spending some cash and getting back in''t prem.

[Camuldonum 0]

[quote user="Big Down Under"]Whatever the rules on Takeover (of course he has to get the shares to take control!), the main point you and others seem to be making is "If Delia loves the club so much, why does she want to get her money out / make a profit?"

Currently, Cullum has offered little or nothing for the actual club, but has offered up to 20m on players. So he gets a well run, well supported club who own their own excellent infrastructure for very very little. Great deal for him. He would effectively be profiting on all the money the Board have put into the club over the last 12 years, leaving them with nothing.

Why should Delia line someone elses pockets with her own hard earned cash? Especially someone whose wealth is so much larger than hers. A considerable amount of her personal wealth is in the club, she is happy to do that so long as its for the good of the club, but she is baulking at letting her money make PC even richer and I don''t blame her.

20m is PC''s starting price, 56m the boards, lets see where they end up. Come on PC bid a reasonable amount, come on Delia accept it, lets move on.
[/quote]

 

That''s about it I think. I realise lot''s of people don''t like her and some do but, whatever, they have (just about) kept Norwich City afloat for a few years.

And if it''s time to say goodbye it must be on decent money when they do so.

So far there isn''t any decent money.

 

 

[colneycanary 0]

Very good post milan and i have thought the exact thing!

[yellow hammer 0]

[quote user="camuldonum"]

[quote user="Big Down Under"]Whatever the rules on Takeover (of course he has to get the shares to take control!), the main point you and others seem to be making is "If Delia loves the club so much, why does she want to get her money out / make a profit?"

Currently, Cullum has offered little or nothing for the actual club, but has offered up to 20m on players. So he gets a well run, well supported club who own their own excellent infrastructure for very very little. Great deal for him. He would effectively be profiting on all the money the Board have put into the club over the last 12 years, leaving them with nothing.

Why should Delia line someone elses pockets with her own hard earned cash? Especially someone whose wealth is so much larger than hers. A considerable amount of her personal wealth is in the club, she is happy to do that so long as its for the good of the club, but she is baulking at letting her money make PC even richer and I don''t blame her.

20m is PC''s starting price, 56m the boards, lets see where they end up. Come on PC bid a reasonable amount, come on Delia accept it, lets move on.
[/quote]

 

That''s about it I think. I realise lot''s of people don''t like her and some do but, whatever, they have (just about) kept Norwich City afloat for a few years.

And if it''s time to say goodbye it must be on decent money when they do so.

So far there isn''t any decent money.

 

 

[/quote]

Today''s EDP is quoting financial experts (whoever they might be) as saying that Championship club values are plummeting at the moment and City shares are worth in the region of 10-15 pounds. Since Delia has paid between 25-30 pounds per share, I think we can see where the deal becomes sticky.

Obviously, no one wants to lose millions and equally no one wants to pay over the odds for something, be-it a house or a football club.

Hopefully both parties can sit down and discuss it amicably. Maybe they can bring in an independant assessor to arbitrate.

Why not allow Delia to run, and take a share of the catering profits, in return for accepting a lower price for her share holding?

 

[Rum Ol Boy 0]

[quote user="camuldonum"]

[quote user="Big Down Under"]Whatever the rules on Takeover (of course he has to get the shares to take control!), the main point you and others seem to be making is "If Delia loves the club so much, why does she want to get her money out / make a profit?"Currently, Cullum has offered little or nothing for the actual club, but has offered up to 20m on players. So he gets a well run, well supported club who own their own excellent infrastructure for very very little. Great deal for him. He would effectively be profiting on all the money the Board have put into the club over the last 12 years, leaving them with nothing. Why should Delia line someone elses pockets with her own hard earned cash? Especially someone whose wealth is so much larger than hers. A considerable amount of her personal wealth is in the club, she is happy to do that so long as its for the good of the club, but she is baulking at letting her money make PC even richer and I don''t blame her.20m is PC''s starting price, 56m the boards, lets see where they end up. Come on PC bid a reasonable amount, come on Delia accept it, lets move on.[/quote]

 

That''s about it I think. I realise lot''s of people don''t like her and some do but, whatever, they have (just about) kept Norwich City afloat for a few years.

And if it''s time to say goodbye it must be on decent money when they do so.

So far there isn''t any decent money.

 

 

[/quote]well said Cam

[colneycanary 0]

So even if we say the shares are worth 15 pound each its still HALF of what the board valued them at yesterday. This is just scandalous!!!!!!!!

[Wings 0]

[quote user="colneycanary"]So even if we say the shares are worth 15 pound each its still HALF of what the board valued them at yesterday. This is just scandalous!!!!!!!![/quote]

It''s negotiation. Delia and Co are entitled to get the best possible price for their work, and have set their stall. Give it time, it''ll happen if all the parties want it to happen at a mutually beneficial price.

[Wings 0]

[quote user="colneycanary"]So even if we say the shares are worth 15 pound each its still HALF of what the board valued them at yesterday. This is just scandalous!!!!!!!![/quote]

It''s negotiation. Delia and Co are entitled to get the best possible price for their work, and have set their stall. Give it time, it''ll happen if all the parties want it to happen at a mutually beneficial price.

[chicken 0]

[quote user="colneycanary"]So even if we say the shares are worth 15 pound each its still HALF of what the board valued them at yesterday. This is just scandalous!!!!!!!![/quote]The problem is that it will just be conjecture. Who says the shares are worth £15 or HALF of what they were? So far ON AVERAGE house prices have dropped by 11% or just over now since this time last year NOT 50%.I would not take stock of what happens to other clubs drasticaly because they involve different situations. Would you sell your house at 50% less just because someone else in another part of the country has been forced to? No I wouldn''t think so. I have just bought my first house with my partner and we didn''t get an 11% discount and nor did we expect to because normally the fall in prices effects the most expencive things first. In the case of houses this would be the South East where they have been charging silly money for quite a while now.I can''t say I have a great deal of knowledge on football club shares but I should imagine that it is similar and to "claim" that they have dropped by 50% in value could well be an overstatement - who knows PC could have back handed a journalist to say so?!!!

[kdncfc 0]

A house is only worth what someone is prepared to pay not what you want for it. NCFC is not worth the money being quoted and if they want to sell they will have to drop the price but the truth is they are trying to price a buyer out of the market. It was only a few months ago that they said they weren''t interested in money for themselves they were more interested in money for the club but there wasn''t any fools other than them around prepared to invest in Championship clubs. That statement has now been proved to be a lie as they themselves have said they''ve been approached by several people but have turned them all away.

[Big Down Under 0]

A house is only worth what someone is prepared to pay not what you want

for it. NCFC is not worth the money being quoted and if they want to

sell they will have to drop the price but the truth is they are trying

to price a buyer out of the market. It was only a few months ago that

they said they weren''t interested in money for themselves they were

more interested in money for the club but there wasn''t any fools other

than them around prepared to invest in Championship clubs. That

statement has now been proved to be a lie as they themselves have said

they''ve been approached by several people but have turned them all

away. Sort of true but not quite. If you were trying to sell your house and someone said "I will take it off your hands for free but will pay to have the roof fixed" you would tell them to bugger off. Cullum has offered $0 per share, but 20m to ''fix'' the squad. No way Delia would accept that and why the hell should she? It would no longer be her funding NCFC but her funding Peter Cullum, who has considerable more wealth than she does.I would welcome Cullum with open arms to the board at Carrow Road, but he has to make a serious offer first. The EDP article was designed to stir up the fans and it has succeeded very very well. He doesn''t expect the fans to look at the detail, just the 20m headline for players, and you are all proving him right. Well done.

[astrodyne 0]

But maybe the fans like getting stirred up - its exciting - certainly more exciting than the ''football'' at carrow road, and the multiple seasons of transefer promise that end in failure.

You seee Big Down Under - peope do not BELIEVE this board anymore. When that happens then change is the only alternative. A bit like politics, you vote for the opposition, but you don''t know every detail of their policy.

[kdncfc 0]

I don''t believe for 1 minute that Cullum expects Delia to give him the club, that 20 million is just for players and my guess would be that on top of that he offered her money for her shares which she turned down. She is now trying to squeeze as much out of him as she can which normally is what you''d expect anyone to do but she was the one who said she wasn''t interested in money for herself and she only wanted money for the club. Looks like she was lieing to me.

[paul ncfc 0]

Surely tobe given the opportunity  to invest heavily in at best a lower Championship level squad ,where it has been stated above that the shares are dwindling in value to give you  a better chance of Prem football is too good to refuse?By putting personal glories aside wouldn''t this significantly improve the share figure at Norwich City?If the  board turn this away we will all know the true intentions of our board of being a closed shop,but to create 20M of shares for PC thus making him majority shareholder is this too much for the ego''s in the boardroom?Does not the 20M investment also free up the proposed transfer budget to concentrate on reducing the debt.Is the problem here purely ego''s or is this over simplifying things?As you will probably realise from my ramblings above I do not understand how these things work,but just a fan who feels to turn this chance down would be foolish to the extreme,it reminds me of Spurs turning Abramovich away!I will always support the team,but I fear for the future unless significant investment can be found. [*-)]

[lucky green trainers 0]

like i''ve said, in terms of financial nouse, pete is prem league and NCFC is league 2.  i don''t understand it, and i doubt if the board do either - their advisor will need to be good (and expensive) to help them do battle.  the deal worries me, in that i know delia wants top dollar - but pete will be loathed to pay over the odds, cos that will make him look weak in his other business dealings - as in, ''cough up more, u did for naaarwich city pete old mate!!!''thats why, imo, he''s made the whole thing public - to put pressure on the board to be reasonable.  a messy squabble may well ensue - but if a deal is brokered, then great.  hang the dirty linen out.  behind closed doors didn''t work.  at the mo though - i''m guessing the board look more like the dealbreakers in my view><?  but, if they''ve been forced to find some more cash to invest in the squad cos of pete''s interest, then at least its a bonus to NCFC and the ordinary fan - cos the state of our squad is appalling...where are your prem/champs ''inbetweenies'' roedy??? i see no ships??>

[Big Down Under 0]

kdncfc - If Cullum had offered cash for shares above the 20m he mentioned in his article, he wouild have mentioned it. He is trying to build popular support, and that info would only have strengthened his claim. He hasn''t mantioned it, you can only think because he hasn''t offered it. The 20m mentioned is purely for player budgets not shares or debt reduction.With this offer Delia and co would lose millions, a considerable portion of their wealth. And not for the club''s benefit, but for Cullum''s. Can''t you see what a terrible deal it is for them?Only a dodgy EDP article says the share price is dwindling, and they can''t provide a source for that info. Cullum can''t take control without buying out Delia. Cullum''s offer is really taking the piss. Delia is asking for top dollar, ITS CALLED NEGOTIATION!! If she is League two at finance / business most of you lot wouldn''t make your local pub team.

[Mr.Carrow 376]

[quote user="Big Down Under"]A house is only worth what someone is prepared to pay not what you want for it. NCFC is not worth the money being quoted and if they want to sell they will have to drop the price but the truth is they are trying to price a buyer out of the market. It was only a few months ago that they said they weren''t interested in money for themselves they were more interested in money for the club but there wasn''t any fools other than them around prepared to invest in Championship clubs. That statement has now been proved to be a lie as they themselves have said they''ve been approached by several people but have turned them all away.

Sort of true but not quite. If you were trying to sell your house and someone said "I will take it off your hands for free but will pay to have the roof fixed" you would tell them to bugger off. Cullum has offered $0 per share, but 20m to ''fix'' the squad. No way Delia would accept that and why the hell should she? It would no longer be her funding NCFC but her funding Peter Cullum, who has considerable more wealth than she does.

I would welcome Cullum with open arms to the board at Carrow Road, but he has to make a serious offer first. The EDP article was designed to stir up the fans and it has succeeded very very well. He doesn''t expect the fans to look at the detail, just the 20m headline for players, and you are all proving him right. Well done.
[/quote]

"Sort of true but not quite".  Hmmm, could probably apply that to alot of what the board have told us in recent years......

Just like your "the board must have put Charles Clarke up to approaching Cullum" nonsense you seem intent on making stuff up to back up your argument.  Show me where the evidence is that Cullum has offered £0 per share for Delias holding? They had a "friendly arm-wrestle" over valuation, ie. early negotiations have already taken place.  Given the fact that Cullum has said there has been no contact since, has gone to the press, and the clubs` terse statement asking for an arbitrary £30 per share it seems that Delia does not want to negotiate further.  Who have the calls for further negotiations come from this week?

Your statements that Delia will walk away with nothing, or will be funding Cullum are utter rubbish and you know it.  Even if the club issue new shares to account for Cullums` £20m you have to balance the dilution in share value with the value of the new money, the improved squad, and the improved chance of success.  If Cullums` cash leads us to several seasons in the Prem then a diluted Delia holding will be worth far more than it is now. 

It`s her huge ego which people like you have helped inflate to monstrous proportions which is the problem.

[canary cherub 1]

[quote user="Big Down Under"]kdncfc - If Cullum had offered cash for shares above the 20m he mentioned in his article, he wouild have mentioned it. He is trying to build popular support, and that info would only have strengthened his claim. He hasn''t mantioned it, you can only think because he hasn''t offered it. The 20m mentioned is purely for player budgets not shares or debt reduction.

[/quote]

He does mention "a friendly arm wrestle over the valuation of the club".  He doesn''t say how much he offered, but why would he show his hand at this stage if the game isn''t over?  Offering £20 million for players is more than enough to get the fans on his side. 

 

[Grando 260]

I think everyone needs to be patient. Did you really all believe that a multi-million pound deal would be done in two days?

Here''s a revelation - it''ll probably take weeks/months... (And if nothing at all happens then the recriminations can start.)

[Big Down Under 0]

[quote user="Mr.Carrow"]

[quote user="Big Down Under"]A house is only worth what someone is prepared to pay not what you want for it. NCFC is not worth the money being quoted and if they want to sell they will have to drop the price but the truth is they are trying to price a buyer out of the market. It was only a few months ago that they said they weren''t interested in money for themselves they were more interested in money for the club but there wasn''t any fools other than them around prepared to invest in Championship clubs. That statement has now been proved to be a lie as they themselves have said they''ve been approached by several people but have turned them all away. Sort of true but not quite. If you were trying to sell your house and someone said "I will take it off your hands for free but will pay to have the roof fixed" you would tell them to bugger off. Cullum has offered $0 per share, but 20m to ''fix'' the squad. No way Delia would accept that and why the hell should she? It would no longer be her funding NCFC but her funding Peter Cullum, who has considerable more wealth than she does.I would welcome Cullum with open arms to the board at Carrow Road, but he has to make a serious offer first. The EDP article was designed to stir up the fans and it has succeeded very very well. He doesn''t expect the fans to look at the detail, just the 20m headline for players, and you are all proving him right. Well done.[/quote]

"Sort of true but not quite".  Hmmm, could probably apply that to alot of what the board have told us in recent years......

Just like your "the board must have put Charles Clarke up to approaching Cullum" nonsense you seem intent on making stuff up to back up your argument.  Show me where the evidence is that Cullum has offered £0 per share for Delias holding? They had a "friendly arm-wrestle" over valuation, ie. early negotiations have already taken place.  Given the fact that Cullum has said there has been no contact since, has gone to the press, and the clubs` terse statement asking for an arbitrary £30 per share it seems that Delia does not want to negotiate further.  Who have the calls for further negotiations come from this week?

Your statements that Delia will walk away with nothing, or will be funding Cullum are utter rubbish and you know it.  Even if the club issue new shares to account for Cullums` £20m you have to balance the dilution in share value with the value of the new money, the improved squad, and the improved chance of success.  If Cullums` cash leads us to several seasons in the Prem then a diluted Delia holding will be worth far more than it is now. 

It`s her huge ego which people like you have helped inflate to monstrous proportions which is the problem.

[/quote]His articles in the EDP stated that he wants to put in 20m, but for player purchases. For this he expects full control of the club. To do this he needs to buy out the board. There is no provision mentioned in the EDP article where they get a penny. Why? The article was released to get the fans on his side, if he had also said "and I offered Delia 10m for the shares, but she turned me away because she wanted 16m" then there would be no doubt, and he would have ALL the fans on his side.If he had made an offer for the shares, we would know. I might well be wrong about Clarke, but show me the flaw in my logic, don''t just tell me I''m ''making it up''. I would be highly surprised if Clarke asked Cullum out to dinner to talk only about investing in the club, without the board knowing. What makes you think I''m wrong? Whats your logic here?Stop trying to bend everything into a story that makes Delia out to be the wicked witch of the east. Yes Cullum looks like he could be excellent for the club, but he has to make a fair offer first. He has made his pile by making huge profits on company purchases, and he is trying to do the same here. I don''t blame him for trying, but I don''t blame Delia for not letting him.

[Show Me What You Gooot! 0]

[quote]Why not allow Delia to run, and take a share of the catering profits, in return for accepting a lower price for her share holding?[/quote]

The way I read that it means she should do all the donkey work of running the club and take a pay cut to do it (although you did said she''d get a share of catering profits - but how much does that amount to?).

Unfortunately I can''t see her falling for that.

[Show Me What You Gooot! 0]

[quote user="Paint Me Yellow"]

[quote]Why not allow Delia to run, and take a share of the catering profits, in return for accepting a lower price for her share holding?[/quote]

The way I read that it means she should do all the donkey work of running the club and take a pay cut to do it (although you did said she''d get a share of catering profits - but how much does that amount to?).

Unfortunately I can''t see her falling for that.

[/quote]

Actually I just thought, even the inclusion of a share of the catering profits wouldn''t work because she effectively gets 100% as it is.

[Citizen Journalist Foghorn 0]

[quote user="camuldonum"]

[quote user="Citizen Journalist Foghorn"]Absolutely.  In fact Delia invested much of her money into the club in the manner desribed above, by creating new shares, normally converting loans into them. Not by actually buying others shares[/quote]

 

Go on, Mr Rankin, tell us about takeover law.

The floor is yours.

[/quote]Im just saying that is how Delia put her money into the club (all of which she is going to get back).