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sxcanaree

New Archant Spin warning - Serious Investigative Journalism attempt now horse has bolted!

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Have cut down article to FACTS only for the average Pinkun reader:  Put in Black and white for all to see!

Call to trust board after talks collapse

STEVE DOWNES

12 July 2008

Norwich City''s fans were last night urged to put their trust in Delia Smith and the other board members after being left devastated by the collapse of talks over a £20m takeover.

Hopes of billionaire Peter Cullum financing a tilt at the top flight were dashed when the club and the wealthy businessman issued a joint statement saying talks had been “terminated with immediate effect”.

But, with some fans beginning to turn on joint majority shareholders Delia and her husband Michael Wynn Jones for a perceived lack of ambition, City chief executive Neil Doncaster strongly defended the couple.

He said: “Delia and Michael have only the very best interests of the club at heart and I hope sincerely that the supporters will understand how much they''ve tried to do to bring new cash into the club.”

Mr Doncaster added that all of the board had worked “tirelessly” to construct a deal with Mr Cullum, and said: “All of the board want only the very best for the club and its marvellous supporters, and will continue to welcome and actively seek new investment to give Glenn Roeder and his coaching staff the best possible chance of competing at the right end of the division this season.”

The comments came as the EDP discovered new details about the stop-start negotiations, which broke off in October when Mr Cullum first indicated he wanted to put in £20m to buy new players and assume control of the club.

It is understood that
Mr Cullum never made a formal offer to the board, but did indicate that he wanted his £20m to buy complete control - and without that control he would not put in a penny.

The proposal did not change throughout Thursday''s brief and fruitless talks.

It is understood the board attempted to explore a number of alternative ways forward for Mr Cullum, including simple investment and ways of purchasing control while still having £20m to give to Glenn Roeder for players.

But all of the avenues would have meant the executive chairman of Towergate having to find more millions to buy shares and pay off club debts.

One of the big stumbling blocks is the £15m debt.

While Mr Cullum was confident he could simply renegotiate the deal and take it on, it is believed that Axa, which financed £12m of the total sum, would insist on complete repayment of its share at any change of club ownership.

Sources close to the club said there was “no way” Mr Cullum would be able to buy Norwich City for £20m.

The saga hit the headlines last week when the EDP exclusively revealed that Mr Cullum had made his October offer, and that he wanted to reopen talks.

He said he wanted Delia to remain as an “icon and figurehead” and was keen to have a supporter and his own representatives on the board.

Britain''s 40th richest man was initially ruled offside by the board, which said his £20m would have to be topped up to at least £56m to buy up the shares at £30 each, settle the debts and pay off directors'' loans.

Mr Cullum disputed the figures and, after a few days of claim and counter claim, the EDP revealed that City''s main sponsor Norwich Union had brokered a new round of talks in an effort to end the impasse.

Now the impasse appears permanent after dialogue broke down again.

The EDP tried to contact Mr Cullum with a series of questions about the latest twist in the tale, but he refused to comment.

Among the questions asked
were:

1. Why did the talks break down?

2. Did you improve the £20m offer? How?

3. If not, why not?

4. The fans see a man with a lot of money. They may ask why you didn''t simply come up with what it takes to control the club and move it forward? So why not?

5. Were any strings attached to your offer(s)?

6. Will you come back at a later date?

7. Will you still attend NCFC home matches when possible?

8. Are you prepared to give some money as a gift to buy players? How much? When?

9. How do you feel about the way things ended?

I have put the last section in italics as you can ask whatever question you like when you do not get a response - What did you have for lunch? Why is the sky blue? and what colour are your underpants today would have received the same response.

With the utmost of respect, if Archant had asked these questions before releasing their day one spin then we would not be in this positions with Morons calling for Delia to quit without having an alternative available.

Still no doubt this board will resemble moron central again today.

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"Still no doubt this board will resemble moron central again today."

 

Best description yet by a mile! well done!

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[quote user="sxcanaree"]

Still no doubt this board will resemble moron central again today.

[/quote](A) I like how you confuse "facts" with "quotes from Neil Doncaster".(B) Your editing is subjective, not factual.(C) We''ve been saying for years that this board is moron central.(D) Yes, I know.

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[quote user="Mister Chops"][quote user="sxcanaree"]

Still no doubt this board will resemble moron central again today.

[/quote]

(A) I like how you confuse "facts" with "quotes from Neil Doncaster".
(B) Your editing is subjective, not factual.
(C) We''ve been saying for years that this board is moron central.
(D) Yes, I know.



[/quote]

(A) I am not citing the quote itself as fact merely the fact that Neil Doncaster said it which is a different thing.

(B) Possibly but the subjective points are factual - eg "some fans" are saying x is a fact - whether x is true or not is subjective. this is why the talks were fruitless is a fact but that they were brief is not as there is no information on the length of times the discussions took.

(C) and (D) res ipsa loquita

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I cant read the font in white. Sorry but i cant help but feel we have been given a raw deal here. Therefore I must be from moron central.

Didnt realise my BA (hons), PGCE (exon) and MA qualified me as a moron though.

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[quote user="Badger"]

"Still no doubt this board will resemble moron central again today."

 

Best description yet by a mile! well done!

[/quote]

And a hearty welcome to you on this forum......fellow moron.[|-)]

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[quote user="Blainsey"]

I cant read the font in white. Sorry but i cant help but feel we have been given a raw deal here. Therefore I must be from moron central.

Didnt realise my BA (hons), PGCE (exon) and MA qualified me as a moron though.

[/quote]

Either

a) find the article on the EDP site

b) read the item marked "humble pie"

c) or highlight the entire article in this posting and the words will be visible.

obviously that does qualify you.

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[quote user="Blainsey"]

I cant read the font in white. Sorry but i cant help but feel we have been given a raw deal here. Therefore I must be from moron central.

Didnt realise my BA (hons), PGCE (exon) and MA qualified me as a moron though.

[/quote]

Either

a) find the article on the EDP site

b) read the item marked "humble pie"

c) or highlight the entire article in this posting and the words will be visible.

obviously that does qualify you.

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[quote user="Mello Yello"][quote user="Badger"]

"Still no doubt this board will resemble moron central again today."

 

Best description yet by a mile! well done!

[/quote]

And a hearty welcome to you on this forum......fellow moron.[|-)]

[/quote]

Let the morons of the world unite ... and all go to a message board

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[quote user="Badger"][quote user="Mello Yello"][quote user="Badger"]

"Still no doubt this board will resemble moron central again today."

 

Best description yet by a mile! well done!

[/quote]

And a hearty welcome to you on this forum......fellow moron.[|-)]

[/quote]

Let the morons of the world unite ... and all go to a message board

[/quote]

What brings you here then......like-minded morons?[:|]

 

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Flippin eck how many people have missed the whole point which was the FACTS were put in dark the rest in white so you could not see them!

ARRGGG![quote user="Blainsey"]

I cant read the font in white. Sorry but i cant help but feel we have been given a raw deal here. Therefore I must be from moron central.

Didnt realise my BA (hons), PGCE (exon) and MA qualified me as a moron though.

[/quote]

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SO a differing opinion to your own makes someone a moron?

[quote user="Badger"][quote user="Mello Yello"][quote user="Badger"]

"Still no doubt this board will resemble moron central again today."

 

Best description yet by a mile! well done!

[/quote]

And a hearty welcome to you on this forum......fellow moron.[|-)]

[/quote]

Let the morons of the world unite ... and all go to a message board

[/quote]

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No JC. Some have the same opinions, some different. It is generally the simplicity with which they see everything that is the defining characteristic...

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