TheCardinal 0 Posted June 30, 2008 http://www.canaries.premiumtv.co.uk/page/NewsDetails/0,,10355~1336394,00.html Share this post Link to post Share on other sites
TheCardinal 0 Posted June 30, 2008 http://www.canaries.premiumtv.co.uk/page/NewsDetails/0,,10355~1336394,00.html Share this post Link to post Share on other sites
Mark Smith 0 Posted June 30, 2008 Page is not loading for me, in fact the official site seems to be having trouble at the moment. Share this post Link to post Share on other sites
lucky green trainers 0 Posted June 30, 2008 it seems to me the playing side of NCFC has suffered by ''asset building'' off it. leaving NCFC to have the smallest and weakest squad in 40 years. great, the share price has been boosted, but realistically is it fair, given the state of the squad???i reckon £50m cash would be fair?>< Share this post Link to post Share on other sites
TheCardinal 0 Posted June 30, 2008 Ok, it''s here:[quote]In the light of headlines in this morning''s press we thought itwould be helpful to supporters to share the process the club uses whenevaluating any potential investment in Norwich City Football Club PLC.We look at the individual, we look at what they want to achieve andwe look at the financial viability of their proposition. In the case ofsomeone seeking to take control of the club and at the same time invest£20 million in the playing squad this would take a minimum of £56million made up as follows:Investment in playing squad£20 millionPurchase of shares based on current share issue price of £30 per share£16 million*Repayment of bank debt that would be triggered by a change of control£16 millionRepayment of directors'' loans£4 millionTOTAL£56 millionIn the last 12 months we have talked to a number of potentialinvestors. We have also reviewed a number of different propositions.Unfortunately none of these investors have made a proposal which wehave considered financially viable.Notwithstanding this the board remains open minded about futureinvestment and will continue to seek new investors and evaluate theirpropositions using the process described above.*This figure is based on an offer for 100% of theissued share capital as required by the rules of the City Code whichapply to Norwich City Football Club PLC[/quote] Share this post Link to post Share on other sites
The Fish Seller 0 Posted June 30, 2008 That statement says more about Delias motives than anyone on here ever has. Share this post Link to post Share on other sites
colneycanary 0 Posted June 30, 2008 OFFICIAL CLUB STATEMENTPosted on: Mon 30 Jun 2008In the light of headlines in this morning''s press we thought it would be helpful to supporters to share the process the club uses when evaluating any potential investment in Norwich City Football Club PLC.We look at the individual, we look at what they want to achieve and we look at the financial viability of their proposition. In the case of someone seeking to take control of the club and at the same time invest £20 million in the playing squad this would take a minimum of £56 million made up as follows:Investment in playing squad £20 millionPurchase of shares based on current share issue price of £30 per share £16 million*Repayment of bank debt that would be triggered by a change of control £16 millionRepayment of directors'' loans £4 millionTOTAL £56 millionIn the last 12 months we have talked to a number of potential investors. We have also reviewed a number of different propositions. Unfortunately none of these investors have made a proposal which we have considered financially viable.Notwithstanding this the board remains open minded about future investment and will continue to seek new investors and evaluate their propositions using the process described above. Share this post Link to post Share on other sites
sturgeon220 0 Posted June 30, 2008 I have had a look , assuming a 20mil investment for new players and repaying of all debt (triggered by change of owner) cost of purchasing all shares and repayment of loans £56 mil!! EASY Share this post Link to post Share on other sites
sturgeon220 0 Posted June 30, 2008 [quote user="Worst Wizard"]That statement says more about Delias motives than anyone on here ever has.[/quote] Pardon? Share this post Link to post Share on other sites
NCFC_Shaun 0 Posted June 30, 2008 so basically thats all that hype over and done with then... Share this post Link to post Share on other sites
colneycanary 0 Posted June 30, 2008 Peter Cullum was not looking for a complete takeover. I thought he just wanted to be the Majority shareholder? Share this post Link to post Share on other sites
WeAreYellows49 0 Posted June 30, 2008 I wont type the lot, but it basically says.... In the last 12 months we have talked to a number of potential investors. We have also reviewed a number of different propositions, unfortunately none of these investors have made a proposal which we have considered finacially viable.Notwithstanding this the board remains open minded about future investment and will continue to seek new investors and evaluate their propositions using the process described. Investment in playing squad - £20 millionPurchase of shares based on current share issue price of £30 per share - £16 millionRepayment of bank debt that would be triggered by a change of control - £16 millionRepayment of directors loans - £4 millionTOTAL £56 million. Share this post Link to post Share on other sites
Unlucky Fried Kitten 0 Posted June 30, 2008 Well, it is exactly as I suspected, Mr. Cullum hasn''t really put up, so perhaps he should shut up. Why he has brought this story into the public domain - goodness only knows. He was probably prepared to add £20 million to the transfer budget provided he could buy up Delia and Michael''s shares at a bargain price. Share this post Link to post Share on other sites
sturgeon220 0 Posted June 30, 2008 It appears he has to purchase all shares Or so it say''s in other threads. change of ownership triggers repayment of debt as well!! Share this post Link to post Share on other sites
DOGGER 0 Posted June 30, 2008 So it''s a no go then unless PC wants to open his wallet a bit more?! Share this post Link to post Share on other sites
ca 1 Posted June 30, 2008 What it says is that they want £56m to be bought out.In the light of headlines in this morning''s press we thought it would be helpful to supporters to share the process the club uses when evaluating any potential investment in Norwich City Football Club PLC.We look at the individual, we look at what they want to achieve and we look at the financial viability of their proposition. In the case of someone seeking to take control of the club and at the same time invest £20 million in the playing squad this would take a minimum of £56 million made up as follows:Investment in playing squad£20 millionPurchase of shares based on current share issue price of £30 per share£16 million*Repayment of bank debt that would be triggered by a change of control£16 millionRepayment of directors'' loans£4 millionTOTAL£56 millionIn the last 12 months we have talked to a number of potential investors. We have also reviewed a number of different propositions. Unfortunately none of these investors have made a proposal which we have considered financially viable. Share this post Link to post Share on other sites
xxxx 0 Posted June 30, 2008 What it says is more seasons of struggle under the Delia regime , that little bit of hope lasted all of a few hours .Best interests of the club at heart , dont think so . Share this post Link to post Share on other sites
Mark Smith 0 Posted June 30, 2008 I think we can knock any potential investment on the head then, but at least that clears things up. Share this post Link to post Share on other sites
WeAreYellows49 0 Posted June 30, 2008 So are they saying they want to be bought out and that no investment of any kind can be forthcoming without buying the whole thing? What a huge pile of croc.God it almost makes me want to tell em to stick their season tickets. Share this post Link to post Share on other sites
TheCardinal 0 Posted June 30, 2008 [quote user="Ncfc No Ambition"]What it says is more seasons of struggle under the Delia regime , that little bit of hope lasted all of a few hours .Best interests of the club at heart , dont think so .[/quote]You''re getting boring now. Why don''t you go support Chelsea? Share this post Link to post Share on other sites
Inch High aka Inchy.. 417 Posted June 30, 2008 We were broke yesterday and we still will be for a while to come.[:(]No mention in there of Delias hinted at investment.Here goes another season of struggle against less than average teams but hey that don''t matter cause Delia saved us.[Y] Share this post Link to post Share on other sites
paul ncfc 0 Posted June 30, 2008 It seems to me that NCFC have trotted out the worse case scenario as far as required funds,I was under the assumption that PC did not want to buy every last share, but a majority holding which I believe is still somewhere just over 50%.As for the loan being totally repayable I feel sure someone of PC knowledge ,he could either renegotiate this or find a better deal.Still wholeheartedly confused. Share this post Link to post Share on other sites
canary cherub 1 Posted June 30, 2008 I see. So having a large debt that has to be repaid on change of ownership is yet another way of deterring potential investors, like increasing the asset value by concentrating on infrastructure. Never mind that servicing the debt is draining investment from the football side. No wonder we keep borrowing more money every time we pay some off.Delia and Michael you have done everything you possibly can to make your position at the club impregnable. Well perhaps now you''ll get your wish. But you won''t enjoy it. Not one little bit. Share this post Link to post Share on other sites
Spin Spin City 0 Posted June 30, 2008 Has anyone thought that in fact someone else has thrown their hat in the ring? Making Mr Cullum nervous? And are willing to pay that elusive 36 million for controlling interest and 20 million on players?I would fly Virgin wouldn''t you?OTBC Share this post Link to post Share on other sites
sturgeon220 0 Posted June 30, 2008 [quote user="Ncfc No Ambition"]What it says is more seasons of struggle under the Delia regime , that little bit of hope lasted all of a few hours .Best interests of the club at heart , dont think so .[/quote] Just what do you want the share holders to do? The figures are inflated by the £20 million for players . £36 mil for the club (lock stock and Colney thrown in seems a proper price to me. There is the ground, other land , Hotel, resaurant business and the colney complex to purchase don''t forget. Nobody on here can seriously believe the shareholders are going to give millions away. Be honest , would any of us? Share this post Link to post Share on other sites
WeAreYellows49 0 Posted June 30, 2008 lol and what makes it worse is we still have only two signing''s and it''s almost pre season. Share this post Link to post Share on other sites
can u sit down please 0 Posted June 30, 2008 [quote user="cityangel"]What it says is that they want £56m to be bought out.In the light of headlines in this morning''s press we thought it would be helpful to supporters to share the process the club uses when evaluating any potential investment in Norwich City Football Club PLC.We look at the individual, we look at what they want to achieve and we look at the financial viability of their proposition. In the case of someone seeking to take control of the club and at the same time invest £20 million in the playing squad this would take a minimum of £56 million made up as follows:Investment in playing squad£20 millionPurchase of shares based on current share issue price of £30 per share£16 million*Repayment of bank debt that would be triggered by a change of control£16 millionRepayment of directors'' loans£4 millionTOTAL£56 millionIn the last 12 months we have talked to a number of potential investors. We have also reviewed a number of different propositions. Unfortunately none of these investors have made a proposal which we have considered financially viable. [/quote]A coy move by NCFC.......Peter Cullum......over to you! Just how badly do you want it to happen? Share this post Link to post Share on other sites
CanaryColt 0 Posted June 30, 2008 Investment in playing squad£20 millionPurchase of shares based on current share issue price of £30 per share£16 million*Repayment of bank debt that would be triggered by a change of control£16 millionRepayment of directors'' loans£4 millionTOTAL£56 millionOwning Norwich City Football Club PricelessSomethings money cant buy... for everyone else there''s Scum on the cheap. Share this post Link to post Share on other sites
WeAreYellows49 0 Posted June 30, 2008 [quote user="Fat Prophet"]I see. So having a large debt that has to be repaid on change of ownership is yet another way of deterring potential investors, like increasing the asset value by concentrating on infrastructure. Never mind that servicing the debt is draining investment from the football side. No wonder we keep borrowing more money every time we pay some off.Delia and Michael you have done everything you possibly can to make your position at the club impregnable. Well perhaps now you''ll get your wish. But you won''t enjoy it. Not one little bit. [/quote]My thoughts exactly, I was tolerant of them before but now my hatred for them will come to the surface. Share this post Link to post Share on other sites
Barclay_Boy 0 Posted June 30, 2008 [quote user="TheMarshmallowMan"][quote user="Ncfc No Ambition"]What it says is more seasons of struggle under the Delia regime , that little bit of hope lasted all of a few hours .Best interests of the club at heart , dont think so .[/quote]You''re getting boring now. Why don''t you go support Chelsea?[/quote]No, tell you what, why don''t you? Share this post Link to post Share on other sites