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FramCanary

TAKE-OVER, referendum for Stakeholders!

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The Board declare that the terms of the proposed Cullum take-over deal were not ''not in the best interest of the club & it''s stakeholders''.     -   IN THEIR OPINION!.

Why not provide us stakeholders (& perhaps season ticket holders) with the facts & invite us to participate in a referendum to assist in ALL of us making a decision as to whether any such deal should be pursued/completed?

 

 

 

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[quote user="Citizen Journalist Foghorn"]no need, Delia and MWJ have the controlling vote with over 50% of shares.  They are in charge of our club.[/quote]

We are all very sadly aware of that regrettable fact - but it would be interesting to establish the considered opinion (based on factual information) of all other shareholders/season ticket holders. After all, it is our club - they are self-elected custodians. ''Self-elected'' via financial wealth enabling them to purchase such a position of power.

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[quote user="FramCanary"]

The Board declare that the terms of the proposed Cullum take-over deal were not ''not in the best interest of the club & it''s stakeholders''.     -   IN THEIR OPINION!.

Why not provide us stakeholders (& perhaps season ticket holders) with the facts & invite us to participate in a referendum to assist in ALL of us making a decision as to whether any such deal should be pursued/completed?

 

 

 

[/quote]

This is business, not local government!!!!!!  When you have invested over £9m of your personal wealth you can have the opportunity to say your piece.

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[quote user="FramCanary"]

The Board declare that the terms of the proposed Cullum take-over deal were not ''not in the best interest of the club & it''s stakeholders''.     -   IN THEIR OPINION!.

Why not provide us stakeholders (& perhaps season ticket holders) with the facts & invite us to participate in a referendum to assist in ALL of us making a decision as to whether any such deal should be pursued/completed?

Hmmm. And once we get the "facts" whatever they are, what might the question be? And who would set the question I wonder? 

 

 

 

[/quote]

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Surely if you want to make the decisions about this football club and run it the way you would like to then you should buy enough shares to become the majority shareholder, ergo decision maker.  Isn''t that what Delia etc have done? Oh yes, so it is. They invested large amounts of their own hard earned cash and have therefore earned the right to make the decisions.  If PC, or for that matter any of you out there in cloud cuckoo land, wants to change the way things are run then may I suggest you either put up or shut up (as PC has obviously done).

We are football "fans".  We "support" our football team.  We do not own them, we do not manage them and we do not decide what happens down at Carrow rd.  Some of us may be shareholders, therefore we are allowed to have our say at the "shareholders" meetings.  Some of us are season ticket holders, some members, but and it''s not a very big but, paying your £10 a season membership or even £300+ season ticket price does not give you the right to run the club. If you think it''s a complete cock-up, are fed up with the whole thing and no longer want to bother with NCFC then don''t!! It''s no skin off of my nose. If you want to strenuously object and return your season ticket in protest go ahead, I won''t.  I''ll still be turning up with mine, every match and cheering on our boys in yellow.  Why? because that''s what they deserve, our support.  That''s what I''ve done for many years, supported our team, and things aren''t going to change.

Yes. I''m pissed off we didn''t get £20 mil. But am I involved in discussions at the highest level? No.  Do I have enough spare cash to get me there? Erm...... definitely NO !!  So what am I going to do?  Well I''m not going to bleat about it like a spoilt child who didn''t get my way.

I''m going to go along to Carra, take my seat, and support my team.

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Carlos - A couple of points. 1) The Government and Local Authorities very rarely offer a Referendum on the "big issues". 2) The amount Delia has invested in Norwich City FC is a matter of speculation and 3) Ordinary fans have invested money in the club in the form of season tickets, memberships, share issues, replica kit, programmes, food/drink at the ground etc etc, and have done so for many many years,  collectively I would suggest that this money will dwarf any investment made by Delia.

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I''d just like to point out that there is a difference between stakeholders and shareholders,

Shareholders own part of the company through shares, stakeholders on the other hand include shareholders but applies to anybody who has an interest in the company, i.e. in this case it would be all of the fans.

For arguments sake if a referendum was held for all stakeholders anybody could technically vote on it claiming interest...

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[quote user="FramCanary"]

The Board declare that the terms of the proposed Cullum take-over deal were not ''not in the best interest of the club & it''s stakeholders''.     -   IN THEIR OPINION!.

Why not provide us stakeholders (& perhaps season ticket holders) with the facts & invite us to participate in a referendum to assist in ALL of us making a decision as to whether any such deal should be pursued/completed?

 

 

 

[/quote]

what it really means is that the proposed Cullum take over deal was not in THEIR best interests. How can they believe that the current shambles is in any way in the club''s interest?

For your own sake Delia go, otherwise the humiliation that Worthington suffered is going to be nothing to what''s in store for you. I don''t know about the city, but supporters here in North Suffolk are very very angry at this news

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"For your own sake Delia go, otherwise the humiliation that Worthington suffered is going to be nothing to what''s in store for you. I don''t know about the city, but supporters here in North Suffolk are very very angry at this news"

So just where is she going to go? Where is the money going to come from to buy her shares?

She can sell (as controlling shareholder) any player she feels she can get money for. Maybe sell off Colney and the car park for a few million for developement. That should enable her to take back the loan money at least.

All this talk about Delia going is absolutely ridiculous and to be quite honest just shows a total lack of any understanding about how this clubs finances are set out.

We are all dissapointed that the new money looks lost but I''m afraid Mr Cullum has done nothing but shaft the club to i assume unstabalise it to come back in the future and try and get things on the cheap.

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Shes already sold any player that was worth anything , she cannot move this club forward and its an absolute certainty fans are going to turn on her and she has nobody to blame but herself.

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You really don''t understand the consequences of trying to force her out do you? If she and the Turners want just their loans back tomorrow where do you think that will come from?

If she was to walk away having been forced out just remember as major shareholder she can realise whatever assets she needs to so she does not lose out financially.

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Because the sad fact is, most of us wouldn''t have a clue what was in our interests. How many of us really understand the financial statements? How many of us understand the financial projections for the club? If all the documents regarding the takeover were made public, how many of us would really understand what they meant for the club, and for those that do understand, how many have the time? This isn''t as simple as ''buy a house for £300,000, pay £2k a month in mortgage payments'', and even that is more complex than most people realise. This is serious business, and most people have no idea why laywers and accountants get paid many tens of thousands to decifer and advise. Seriously, this is above 95% of the fan base of the club. We have no business asking of this.

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Actually some of us do understand the accounts...and we also understand that what appears to be a very good offer from a long term supporter who is not short of the odd bob or two, has been turned away.

Delia and Co have taken the club as high as they are ever likely too...they seem more intent on taking us down but with lot''s of assets...just as Chase did all those years ago.

If they have turned him away then the supporters have a right to know why! If his offer was not good, then let''s hear why it''s not good for the club! Or is it just not right for Delia and the Turners????

They may own a majority of the shares to the club....but they do not own Norwich City Football Club!

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[quote user="whoareyou"]

Actually some of us do understand the accounts...and we also understand that what appears to be a very good offer from a long term supporter who is not short of the odd bob or two, has been turned away.

Delia and Co have taken the club as high as they are ever likely too...they seem more intent on taking us down but with lot''s of assets...just as Chase did all those years ago.

If they have turned him away then the supporters have a right to know why! If his offer was not good, then let''s hear why it''s not good for the club! Or is it just not right for Delia and the Turners????

They may own a majority of the shares to the club....but they do not own Norwich City Football Club!

[/quote]

Good man!! I''ve been waiting for you so that I can get off this damn fence!

What is this very good offer that has been turned away?

 

 

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[quote user="jbghost"]

 

So just where is she going to go? Where is the money going to come from to buy her shares?

 

[/quote]

do you seriously SERIOSLY need those questions answered???!!! Cullum has the money to buy this football club and pay off the miths and the turners.. its all about pride.. nothing more!

jas :)

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am i silly here or did PC just offer 20 mill for players and nothing to DS ?

If you think thats a good offer all i can say is, its a good job you dont run a business,

as you wouldnt have a company for long !!!! You want to give it away for nothing,

unlike DS

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[quote user="bloodwagon"]

 

am i silly here or did PC just offer 20 mill for players and nothing to DS ?

If you think thats a good offer all i can say is, its a good job you dont run a business,

as you wouldnt have a company for long !!!! You want to give it away for nothing,

unlike DS

[/quote]

Yeah, that Peter Cullum''s pathetic business dealings - are only worth around £1.7 Billion quid......

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Where has it been said that Cullum has offered nothing for the Smiths'' shares? A few seem to assume this is the case but i have not seen either the Club or Mr Cullum''s representatives say this is the case!

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[quote user="whoareyou"]Where has it been said that Cullum has offered nothing for the Smiths'' shares? A few seem to assume this is the case but i have not seen either the Club or Mr Cullum''s representatives say this is the case![/quote]

I don''t think it has been said. Nothing much has actually been said at all. All the statements have been in the newspapers. Apart from that it''s just stuff people make up to suit their own take on the issues.

 

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[quote user="nutty nigel"]

Nothing much has actually been said at all. All the statements have been in the newspapers. Apart from that it''s just stuff people make up to suit their own take on the issues.

[/quote]Hence the fence.Ooooh I made a rhyme [:D]Sorry [:$]

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no one know the offer cullum made, all that was said was 20 mill for players,  how do we know that he didnt offer the going rate for her shares and she said no its 56 mill or nothing, its all speculation the only thing we do know is that delia has stated she didnt want a profit if a investor came along, well in my mind how do we know that cullum didnt offer her what she has paid into the club, it certainly aint 9 mill which is what she wants, we wont know the truth

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[quote user="Royal Anglian all the way"]no one know the offer cullum made, all that was said was 20 mill for players,  how do we know that he didnt offer the going rate for her shares and she said no its 56 mill or nothing,

its all speculation the only thing we do know is that delia has stated she didnt want a profit if a investor came along, well in my mind how do we know that cullum didnt offer her what she has paid into the club, it certainly aint 9 mill which is what she wants,

we wont know the truth
[/quote]

Where does she say she wants 9m?

 

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Do you really in your small world believe all he offered was 20 million for players and squat for anything else?  [quote user="bloodwagon"]

 

am i silly here or did PC just offer 20 mill for players and nothing to DS ?

If you think thats a good offer all i can say is, its a good job you dont run a business,

as you wouldnt have a company for long !!!! You want to give it away for nothing,

unlike DS

[/quote]

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whoareyou? wrote the following post at 11/07/2008 7:09 PM: "...and we also understand that what appears to be a very good offer from a long term supporter who is not short of the odd bob or two, has been turned away."

What exactly appears to be a very good offer? Neither you, nor i know what the details were. It seems at least as likely that it wasn''t a very good offer at all...

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Apart from the people in that meeting who knows what the offer was?   What were the unreasonable demand made by the club?   Was the £20m a real cash injection or paid for by rengotiating the debt up?  Was the £20m for the club ownership or purely for the squad enhancements?  What were the long terms plans for the club from this life long fan?  Why did the club decline the offer,  what pre-conditions were not met? 

I know of no one who knows the real answers to these questions and until I have the facts I remain firmly of the view that the cash was tantalising but not acceptable for both parties - an old news story which has created much a do about nothing and left a set of fans angry over hints and insinuations with little factual evidence for us to get  so over excited about. 

 

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[quote user="ZippersLeftFoot"]

Apart from the people in that meeting who knows what the offer was?   What were the unreasonable demand made by the club?   Was the £20m a real cash injection or paid for by rengotiating the debt up?  Was the £20m for the club ownership or purely for the squad enhancements?  What were the long terms plans for the club from this life long fan?  Why did the club decline the offer,  what pre-conditions were not met? 

[/quote]Enough of the questions ZLF. The pyre is built and we''ve been down to Happy Shopper to get some lighter fuel and matches. WHEN CAN WE BURN HER! [;)][;)][;)]

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[quote user="jbghost"]

"For your own sake Delia go, otherwise the humiliation that Worthington suffered is going to be nothing to what''s in store for you. I don''t know about the city, but supporters here in North Suffolk are very very angry at this news"

So just where is she going to go? Where is the money going to come from to buy her shares?

She can sell (as controlling shareholder) any player she feels she can get money for. Maybe sell off Colney and the car park for a few million for developement. That should enable her to take back the loan money at least.

All this talk about Delia going is absolutely ridiculous and to be quite honest just shows a total lack of any understanding about how this clubs finances are set out.

We are all dissapointed that the new money looks lost but I''m afraid Mr Cullum has done nothing but shaft the club to i assume unstabalise it to come back in the future and try and get things on the cheap.

[/quote]

Spot on. Most of the people who call for protests etc display a complete lack of understanding of the issues. They have been successful in getting rid of 1 Chair they didn''t like; a number of managers; trying to get rid of another chair - each time they promise us that it will be alright after this and abuse anyone who says anything sensible. There aren''t many clubs that boo themselves to promotion and further success.

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