Please tell us why Peter Cullums bid was rejected

[balesncfc09 0]

A bad day today,and i do fear the worst now, but as a loyal ncfc fan, amongst all the other 24-25000 every home game at carrow road, i believe that we have a right to know why Peter Cullums bid was rejected,the board never told us the reasons why,surely we as loyal fans deserve the right to know excatly why Cullums bid was rejected,so come on board speak up for once,dont be gutless

[Syteanric 1]

because its delias Toy and woe betied anyone who treads on her toes

"its my cake and you aint having a peice!"

Reality bites, as Delia has found out.

jas :)

[WeAreYellows49 0]

Honestly, can you see them ever telling us what went on?

[Frying Pan Eyes 0]

Delia wont sell because she doesnt want to. Its her play thing and she is happy to plod along and cook some hotpots.

PS  Bales is that you Bungle?

[balesncfc09 0]

since when do i look like bungle!!!!!!!!!!

[balesncfc09 0]

im trying to ring ya,but phones just ringing,im gonna watch john thaxton on itv4

[Rupethebear 0]

Move on he hasn''t got the cash!!!

[Louis 0]

[quote user="Rupethebear"]Move on he hasn''t got the cash!!![/quote]

Perhaps so. "Out with the board" is what we want, but who is waiting to come in?

[Rupethebear 0]

The queue is very small so we have to keep the board for now!!!

[Camuldonum 0]

Apparently Yellow Hammer is going to reveal all about "what happened when a billionaire came calling" tomorrow (see other thread).

[:D]

[Man-E-Faces 0]

[quote user="balesncfc09"]

A bad day today,and i do fear the worst now, but as a loyal ncfc fan, amongst all the other 24-25000 every home game at carrow road, i believe that we have a right to know why Peter Cullums bid was rejected,the board never told us the reasons why,surely we as loyal fans deserve the right to know excatly why Cullums bid was rejected,so come on board speak up for once,dont be gutless

[/quote]

I feel the same, totally depressed about what is happening to our club but....Cullum didn''t have the money. Not the amount Delia needed or wanted. Whatever anyone thinks of her she has pumped a hell of a lot of her own money into the club.

Basiclly she valued the club at a certain amount and Cullum offered her half that. She would have based her figures on something. If your house was worth say 150k would you sell it for 75k?

[Louis 0]

[quote user="Camuldonum"]

Apparently Yellow Hammer is going to reveal all about "what happened when a billionaire came calling" tomorrow (see other thread).

[:D]

[/quote]

 

lol, I can''t wait to read the tripe that he posts, if he posts anything.

[WeAreYellows49 0]

[quote user="Camuldonum"]

Apparently Yellow Hammer is going to reveal all about "what happened when a billionaire came calling" tomorrow (see other thread).

[:D]

[/quote]

I can hardly hold in my excitement lol

[First Wazzock 1,014]

[quote user="balesncfc09"]

A bad day today,and i do fear the worst now, but as a loyal ncfc fan, amongst all the other 24-25000 every home game at carrow road, i believe that we have a right to know why Peter Cullums bid was rejected,the board never told us the reasons why,surely we as loyal fans deserve the right to know excatly why Cullums bid was rejected,so come on board speak up for once,dont be gutless

[/quote]

What bid ?

[Camuldonum 0]

[quote user="WeAreYellows49"][quote user="Camuldonum"]

Apparently Yellow Hammer is going to reveal all about "what happened when a billionaire came calling" tomorrow (see other thread).

[:D]

[/quote]

I can hardly hold in my excitement lol

[/quote]

Try and hold it in if you can[+o(]

He may reveal all.

[PurpleCanary 6,388]

[quote user="Camuldonum"][quote user="WeAreYellows49"][quote user="Camuldonum"]

Apparently Yellow Hammer is going to reveal all about "what happened when a billionaire came calling" tomorrow (see other thread).

[:D]

[/quote]

I can hardly hold in my excitement lol

[/quote]

Try and hold it in if you can[+o(]

He may reveal all.

[/quote]Heavens to Betsy! Does this mean I''m going to have to get my 2,000 word thesis on "Cullum - The True Story" back from the printers for a hasty rewrite?

[Next door to Boyer 2]

I wish I had the related article to hand but the board haven''t kept the Cullum bid saga altogether secret. Although I understand to some City supporters that a multi millionaire on ''board'' would have helped our plight, I believe they are mis-informed.From memory he claimed, through the newspapers, not in a formal business proposition, that he''d like to invest £20/£25 million into then manager, GR''s transfer kitty. For his investment he wanted control of the club and intended on appointing 2 of his staff on the board to run things. Apparently there had been a meeting between the board and Cullum but there wasn''t any progress because of the following reason.It was simply unacceptable to the board because the current legal standpoint clearly states that anyone wishing to take control of the club has to make an offer to a majority of shareholders for their stake in the club. Cullum wouldn''t budge from his offer to invest in players and want control without paying shareholders a penny. Quite simply it''s unconstitutional for the club to be sold in this way.In my opinion, he was also asking Delia to walk away from the millions (4/5 ?) she has currently invested, without any financial offer for her time or investment. He made a token gesture of keeping Delia on in some capacity but for someone who, at the time, was reported to be worth 1.7 billion, I believe his offer was cheap and demeaning to the club as well as an attempt to de-stabilise opinion of Delia and the board when we were vulnerable. All from someone who claims to be a Norwich supporter.An offer of £35+ million to purchase shares, pay Delia back a little and present his honest intentions to progress the club may have secured control for him. But he chose to use the media with big headlines to unsettle the board in the hope of gaining support from the fans and make the boards life uncomfortable. In some part, to those gullible and mis-informed, he has done.However, since the revalation of a World recession and credit crunch blah blah, it turns out that Cullum aint that well off. He has not been imune from losing out in major investments as the banks and the economy in general has crashed. I can''t pretend to know how much he is worth but after his dis-tasteful attempt of turning the club upside down, I doubt that even if he had taken control that he would now be investing in players. It don''t make business sense ?Putting us into administration, losing 10 points getting relegated and losing the debt does !Thats not something I enjoy considering to put it lightly.. but I feel very angry at those supporters who critisise the board, Delia in particular, when it is so obvious they are doing their upmost for the club. They have made mistakes, for me it started with appointing Grant but I was taken in as he talks a good game and I could see why he was chosen. However, the quality of players he brought to the club was questionable. As a result, when Roeder was brought in although he was able to raise the quality of players, albeit using loans for the majority of them, it just papered over the cracks. He then made mistakes in letting the likes of Huckerby go, and presumed the players he started the season with would hopefully challenge for a play off spot. He''d offloaded 12+ players and I worried that the team still needs to gel. Although to some extent you could argue the quality of the squad had improved, I didn''t believe it meant the team would automatically progress. Is the current squad that much better than others in the Championship ? Our league position says not. Supporters should have recognised when Gunn was appointed that relegation is a realistic possibility. I''m not critisising the appointment of Gunn & Co, far from it. I am a realist and saw the huge task he faces. I like the appointment and the staff he brought in as he and the board made the recognition that our most succesful periods came from hiring those within or with strong links to the club. Appointing Crook and Butterworth as Coaches also lines them up as future possible Managers and inkeeping with the philosophy of hiring managers within attempting to recreate previous success. It''s because they love and they know the club, Norfolk and the poeple that they will ensure they will do nothing but the best they can do to improve things.What they need is the unconditional support from us fans... no critisism''s, no infighting, no looking to place the blame on players, the management or the board. Yes it hurts to see how the team are playing and our league position becoming precarious. But one things for sure, if as fans, we lose our nerve and turn on individual players for mistakes they make because of our own anxiety of relegation, it will and it does transmit to the team and become a self fulfilling prophecy. Moan all you like down the pub at work and kick the cat across the living room if you so feel like it..But when it comes to being on the terraces, voice your opinion in the most passionate way possible in supporting this great club of ours... otherwise your not fit to wear the shirt.Forever Yella..

[Barclay_Boy 0]

[quote user="smann"]I wish I had the related article to hand but the board haven''t kept the Cullum bid saga altogether secret. Although I understand to some City supporters that a multi millionaire on ''board'' would have helped our plight, I believe they are mis-informed.

From memory he claimed, through the newspapers, not in a formal business proposition, that he''d like to invest £20/£25 million into then manager, GR''s transfer kitty. For his investment he wanted control of the club and intended on appointing 2 of his staff on the board to run things. Apparently there had been a meeting between the board and Cullum but there wasn''t any progress because of the following reason.

It was simply unacceptable to the board because the current legal standpoint clearly states that anyone wishing to take control of the club has to make an offer to a majority of shareholders for their stake in the club. Cullum wouldn''t budge from his offer to invest in players and want control without paying shareholders a penny. Quite simply it''s unconstitutional for the club to be sold in this way.

In my opinion, he was also asking Delia to walk away from the millions (4/5 ?) she has currently invested, without any financial offer for her time or investment. He made a token gesture of keeping Delia on in some capacity but for someone who, at the time, was reported to be worth 1.7 billion, I believe his offer was cheap and demeaning to the club as well as an attempt to de-stabilise opinion of Delia and the board when we were vulnerable. All from someone who claims to be a Norwich supporter.

An offer of £35+ million to purchase shares, pay Delia back a little and present his honest intentions to progress the club may have secured control for him. But he chose to use the media with big headlines to unsettle the board in the hope of gaining support from the fans and make the boards life uncomfortable. In some part, to those gullible and mis-informed, he has done.

However, since the revalation of a World recession and credit crunch blah blah, it turns out that Cullum aint that well off. He has not been imune from losing out in major investments as the banks and the economy in general has crashed. I can''t pretend to know how much he is worth but after his dis-tasteful attempt of turning the club upside down, I doubt that even if he had taken control that he would now be investing in players. It don''t make business sense ?

Putting us into administration, losing 10 points getting relegated and losing the debt does !

Thats not something I enjoy considering to put it lightly.. but I feel very angry at those supporters who critisise the board, Delia in particular, when it is so obvious they are doing their upmost for the club. They have made mistakes, for me it started with appointing Grant but I was taken in as he talks a good game and I could see why he was chosen. However, the quality of players he brought to the club was questionable. As a result, when Roeder was brought in although he was able to raise the quality of players, albeit using loans for the majority of them, it just papered over the cracks. He then made mistakes in letting the likes of Huckerby go, and presumed the players he started the season with would hopefully challenge for a play off spot. He''d offloaded 12+ players and I worried that the team still needs to gel. Although to some extent you could argue the quality of the squad had improved, I didn''t believe it meant the team would automatically progress. Is the current squad that much better than others in the Championship ? Our league position says not.

Supporters should have recognised when Gunn was appointed that relegation is a realistic possibility. I''m not critisising the appointment of Gunn & Co, far from it. I am a realist and saw the huge task he faces. I like the appointment and the staff he brought in as he and the board made the recognition that our most succesful periods came from hiring those within or with strong links to the club. Appointing Crook and Butterworth as Coaches also lines them up as future possible Managers and inkeeping with the philosophy of hiring managers within attempting to recreate previous success. It''s because they love and they know the club, Norfolk and the poeple that they will ensure they will do nothing but the best they can do to improve things.

What they need is the unconditional support from us fans... no critisism''s, no infighting, no looking to place the blame on players, the management or the board. Yes it hurts to see how the team are playing and our league position becoming precarious. But one things for sure, if as fans, we lose our nerve and turn on individual players for mistakes they make because of our own anxiety of relegation, it will and it does transmit to the team and become a self fulfilling prophecy. Moan all you like down the pub at work and kick the cat across the living room if you so feel like it..

But when it comes to being on the terraces, voice your opinion in the most passionate way possible in supporting this great club of ours... otherwise your not fit to wear the shirt.

Forever Yella..
[/quote]

sorry - rubbish post and another Delia apologist joins the Board. Big demo at Southampton last week, see their least 2 results?  you are so, so wrong, and you will see the worm finally turn now as more and more fans realise they have been well and truly stitched up. Delia and Co doing their utmost for the club? Yeah, of course they are, an look at just where that has got us. You get angry at people who critizcise the Board & Delia? I can assure you not anywhere near as angry as I get at posts from deluded people like you still sticking up for them

[Next door to Boyer 2]

RE: ''''sorry - rubbish post (can you give me your reasons why ?) and another Delia apologist joins the Board. Big

demo at Southampton last week, see their least 2 results?  you are so,

so wrong, (because ?) and you will see the worm finally turn now as more and more

fans realise they have been well and truly stitched up. Delia and Co

doing their utmost for the club? Yeah, of course they are, an look at

just where that has got us. You get angry at people who critizcise the

Board & Delia? I can assure you not anywhere near as angry as I get

at posts from deluded people like you still sticking up for them.''''Ok, please put me straight how Delia has a cunning plan to stitch up the supporters ?My belief is Delia and the boards job is to make the club as financially stable as possible to allow the club to progress. In the last few years all football clubs have struggled with the finances. Premiership and Championship clubs are desperate to find a multi millionaire ''sugar daddy'' to compete with the big boys, and then expect him to plough millions in the club without any return for his money. With the amount of money in football, especially the Premiership, it''s madness to think millionaires will continue to support clubs in this way. I don''t know of any other business where so much money can be earned and yet billionaire Chairmen are expected to go the extra mile by forking out their fortune to keep supporters happy.Firstly football has to put it''s house in order and pay players wages that is relevant to the profit the clubs make without a billionaire at the helm. I know its unrealistic, especially if clubs want to compete with the likes of Chelsea and Man City etc but Norwich just ain''t gonna find that kind of investor.Anyway, I diverse... I believe apart from finances the other responsibility for those running the club is to appoint a Manager. There is nothing the board can do footballing wise on the pitch, apart from hire a Manager who can improve the team. That is where I believe Delia & Co can be critisised, (Grant & Roeder etc), although its easy to point the finger after the event. I think Roeder performed a miracle in keeping us up last season but his job was done and his time was up and I believe the board made a good decision in replacing him. There''s no magic formular in apponiting a manager and gaining success. Managers can be seen as messiah''s one season and idiots the next. There''s little a board can do after appointing a new manager, he is the font of knowledge of all things football, all the board can do is support him in his decisions and hope he is right.I hear a lot about how 24/25,000 supporters turn up at home matches and are being ripped off by what they see on the pitch. Firstly, I remember being inthe old Div 1 and getting an average gate of 13/14,000... 18,000 was a good turnout. We only get 24/25,000 crowds now because of the boards policy in ticket pricing and encouraging families and kids etc to buy season tickts. I don''t know anywhere else where kids can get a season ticket for £25.Those sort of decisions and the constant work Delia does in publishing books and using her celebrity to find the money to put back into Norwich is why I support her and respect her efforts especially when other merely critise her work because of what happens on the pitch, which is beyond her control.

[gazzathegreat 0]

Smann, it''s interesting to see it from another perspective and as you seem to know a lot about the Cullum saga, offer or no offer I will take it as fact for now. It''s just a shame no one from the club could have had the decency to explain it to supporters and minor shareholders. But then the board have a lot of explaining to do.

However your own opinion on when the board started to go wrong is giving them the benefit of many doubts. What about our ''ambitious'' season in the Premiership and the resulting season after relegation. Worthington? Did he stay too long or wasn''t he backed with enough cash after his best players were all sold. And what''s happened to all that money from parachute payments and the profits made on player sales, year on year.

This board have taken our club back to the brink of the third division, I am sorry but IMO they deserve severe criticism for it and some timely responses to more than a few questions.

[komakino 282]

I still cannot believe that some fans STILL support Delia. When we you lot ever learn? The woman tried to invest in Ipswich before Norwich, which Sheepshanks told her to clear off. The woman has only self-interest at heart and not loyalty to Norwich City or anyone else but herself.

The money she has put in was always as a loan and she thought she would get it back at some point in the future. She has now screwed herself and the club by her appalling sense of ''business'' and she and the club will face the consequences.

Chase got out of control, but he was an angel compared to Delia. The two eras are so far apart it''s almost like it was two different clubs.

To all you Delia lovers out there, you have got what you deserve - relegation.

[WeAreYellows49 0]

[quote user="komakino"]I still cannot believe that some fans STILL support Delia. When we you lot ever learn? The woman tried to invest in Ipswich before Norwich, which Sheepshanks told her to clear off. The woman has only self-interest at heart and not loyalty to Norwich City or anyone else but herself. The money she has put in was always as a loan and she thought she would get it back at some point in the future. She has now screwed herself and the club by her appalling sense of ''business'' and she and the club will face the consequences. Chase got out of control, but he was an angel compared to Delia. The two eras are so far apart it''s almost like it was two different clubs. To all you Delia lovers out there, you have got what you deserve - relegation.[/quote]

 

How about the non-delia lovers? [:P]

[Next door to Boyer 2]

I get my sources/info from the internet and then make up my own mind from the views that are given.In general I start with:http://www.newsnow.co.uk/h/Sport/Football/Championship/Norwich+CityIt''s a news portal that gathers all published info relevant to Norwich, from the media and internet. It provides links to sites to read up various published stories.Using newsnow I came across:http://norwichcity.myfootballwriter.com/Which I believe gives intelligent comment and views and largely where I came across what was going on in the Cullum takeover saga, that never was..I was hoping to find various stories in their archived reports to give better and more precise detail as to what was happening but I couldn''t find them so I went from memory.Check it out ?

[canary cherub 1]

[quote user="smann"]I get my sources/info from the internet and then make up my own mind from the views that are given.

In general I start with:

http://www.newsnow.co.uk/h/Sport/Football/Championship/Norwich+City

It''s a news portal that gathers all published info relevant to Norwich, from the media and internet. It provides links to sites to read up various published stories.

Using newsnow I came across:

http://norwichcity.myfootballwriter.com/

Which I believe gives intelligent comment and views and largely where I came across what was going on in the Cullum takeover saga, that never was..

I was hoping to find various stories in their archived reports to give better and more precise detail as to what was happening but I couldn''t find them so I went from memory.

Check it out ?
[/quote]

Oh dear, Waghorn and Friends (notably M Dennis Esq).  Mr Waghorn has a reputation (well deserved in my view) for being an unofficial mouthpiece for the board.  Whether they actually pay him for it I know not, but if you rely on him for your information you will be getting an extremely biased and sycophantic point of view.

 

[WeAreYellows49 0]

[quote user="Potless Percy "]

[quote user="smann"]I get my sources/info from the internet and then make up my own mind from the views that are given.

In general I start with:

http://www.newsnow.co.uk/h/Sport/Football/Championship/Norwich+City

It''s a news portal that gathers all published info relevant to Norwich, from the media and internet. It provides links to sites to read up various published stories.

Using newsnow I came across:

http://norwichcity.myfootballwriter.com/

Which I believe gives intelligent comment and views and largely where I came across what was going on in the Cullum takeover saga, that never was..

I was hoping to find various stories in their archived reports to give better and more precise detail as to what was happening but I couldn''t find them so I went from memory.

Check it out ?
[/quote]

Oh dear, Waghorn and Friends (notably M Dennis Esq).  Mr Waghorn has a reputation (well deserved in my view) for being an unofficial mouthpiece for the board.  Whether they actually pay him for it I know not, but if you rely on him for your information you will be getting an extremely biased and sycophantic point of view.

 

[/quote]

Agreed, I wouldn''t trust him I have to say, he''s biased beyond belief.

[ron obvious 1,711]

[quote user="komakino"]I still cannot believe that some fans STILL support Delia. When we you lot ever learn? The woman tried to invest in Ipswich before Norwich, which Sheepshanks told her to clear off. The woman has only self-interest at heart and not loyalty to Norwich City or anyone else but herself.

The money she has put in was always as a loan and she thought she would get it back at some point in the future. She has now screwed herself and the club by her appalling sense of ''business'' and she and the club will face the consequences.

Chase got out of control, but he was an angel compared to Delia. The two eras are so far apart it''s almost like it was two different clubs.

To all you Delia lovers out there, you have got what you deserve - relegation.[/quote]That''s quite an appalling list of accusations. Do you have evidence for the statement in bold? I''d be genuinely interested to know.

[Next door to Boyer 2]

Percy RE: Oh dear, Waghorn and Friends (notably M Dennis Esq).  Mr Waghorn has a

reputation (well deserved in my view) for being an unofficial

mouthpiece for the board.  Whether they actually pay him for it I know

not, but if you rely on him for your information you will be getting an

extremely biased and sycophantic point of view.C''mon lads, the accusations for anyone not sharing your point of view is always deemed dubious and goes beyond that of an extremist conspiracy theorist. The fact remains, that Cullum''s bid didn''t materialise in the business sense. I made an effort to find the relevant piece. So here goes..The first hurdle comes courtesy of City Code Rule 9 - that if Cullum

were to take control of Delia Smith''s 61.2% majority shareholding in

the club, he would have to buy the club outright. Make every single

shareholder an offer. Either that or limit his shareholding to a

minority stake of 29.9% - a fraction below the 30% tip point and as

would-be Birmingham City owner Carson Yeung has discovered, a recipe

for a bitter stalemate. On the current share issue price of £30

per share, making an offer for 100% of the issued share capital would

cost Cullum £16 million.More intriguingly, the club also revealed that the club''s long-term

securitisation deal would also have to be repaid upon a change of

ownership - adding another £16 million to the cost of "doing something

that I''ve always wanted to do". With the repayment of directors loans

adding another £4 million, Cullum was handed a £56 million ''bill'' if he

wished to take his interest any further.What is interesting for those with a calculator to hand is working out

what Delia and Wynn Jones would be looking to recoup were the sale to

proceed on a full buy-out basis at £30 per share. With 61% of the

shares to their name, that amounts to just under £10 million of the

proposed £16 million cost - which, by most accounts, simply equates to

the money that the pair have put into the club over the last 12 years.Given

that Cullum has a reported personal wealth of £1.7 billion and

liquified another £60 million odd of that as recently as April with the

release of a trnche of shares in Towergate to an American hedge fund,

the one-time Norwich City schoolboy footballer could slap £56 million

on the table tomorrow which - given the level of his financial

resources - would leave Delia and Co in a basically untenable position.Since setting up Towergate in 1997 with just two insurance colleagues

for company, the Canaries'' 57-year-old suitor has overseen the buy-outs

of over 130 companies. According to a profile of ''The King Of Deals'' in

March''s edition of BusinessXL, "14 were purchased in the past 12 months

alone... "The biggest buy-out to date was that of the insurance

software house OpenGI - a £275 million investment that, in certain

senses, makes a potential purchase of Norwich City very small beer.(30th June 08). Is there anyone of us, so called Delia lovers or haters who in Cullums position would have decided not to spend £56 million, when you have £1.7 billion in the bank ?Although his business may now have taken a bashing I think he''ll still have well over a billion and where is the great white knight !!Maybe waiting for us to get relegated, pick up the club at a knock down price, minus the debts if we go through administration and ride on the back of those who support his dis-tasteful attempt to own our club, while making the most of dis-gruntled fans frustrations with the board. There''s good reason how and why he has made the money he has, in the world of business buy low and sell high, its all in the timing ?

[coops 0]

DELIA= WORST POSITION THE CLUB HAS BEEN IN!!!!!

[Mr.Carrow 394]

[quote user="smann"]Percy RE: Oh dear, Waghorn and Friends (notably M Dennis Esq).  Mr Waghorn has a reputation (well deserved in my view) for being an unofficial mouthpiece for the board.  Whether they actually pay him for it I know not, but if you rely on him for your information you will be getting an extremely biased and sycophantic point of view.

C''mon lads, the accusations for anyone not sharing your point of view is always deemed dubious and goes beyond that of an extremist conspiracy theorist. The fact remains, that Cullum''s bid didn''t materialise in the business sense. I made an effort to find the relevant piece. So here goes..

The first hurdle comes courtesy of City Code Rule 9 - that if Cullum were to take control of Delia Smith''s 61.2% majority shareholding in the club, he would have to buy the club outright. Make every single shareholder an offer. Either that or limit his shareholding to a minority stake of 29.9% - a fraction below the 30% tip point and as would-be Birmingham City owner Carson Yeung has discovered, a recipe for a bitter stalemate. On the current share issue price of £30 per share, making an offer for 100% of the issued share capital would cost Cullum £16 million.

More intriguingly, the club also revealed that the club''s long-term securitisation deal would also have to be repaid upon a change of ownership - adding another £16 million to the cost of "doing something that I''ve always wanted to do". With the repayment of directors loans adding another £4 million, Cullum was handed a £56 million ''bill'' if he wished to take his interest any further.

What is interesting for those with a calculator to hand is working out what Delia and Wynn Jones would be looking to recoup were the sale to proceed on a full buy-out basis at £30 per share. With 61% of the shares to their name, that amounts to just under £10 million of the proposed £16 million cost - which, by most accounts, simply equates to the money that the pair have put into the club over the last 12 years.

Given that Cullum has a reported personal wealth of £1.7 billion and liquified another £60 million odd of that as recently as April with the release of a trnche of shares in Towergate to an American hedge fund, the one-time Norwich City schoolboy footballer could slap £56 million on the table tomorrow which - given the level of his financial resources - would leave Delia and Co in a basically untenable position.

Since setting up Towergate in 1997 with just two insurance colleagues for company, the Canaries'' 57-year-old suitor has overseen the buy-outs of over 130 companies. According to a profile of ''The King Of Deals'' in March''s edition of BusinessXL, "14 were purchased in the past 12 months alone... "

The biggest buy-out to date was that of the insurance software house OpenGI - a £275 million investment that, in certain senses, makes a potential purchase of Norwich City very small beer.
(30th June 08).

Is there anyone of us, so called Delia lovers or haters who in Cullums position would have decided not to spend £56 million, when you have £1.7 billion in the bank ?

Although his business may now have taken a bashing I think he''ll still have well over a billion and where is the great white knight !!

Maybe waiting for us to get relegated, pick up the club at a knock down price, minus the debts if we go through administration and ride on the back of those who support his dis-tasteful attempt to own our club, while making the most of dis-gruntled fans frustrations with the board. There''s good reason how and why he has made the money he has, in the world of business buy low and sell high, its all in the timing ?
[/quote]

Your last paragraph is pretty much exactly what Delia did.  Have a think about it.

[Two Tails 0]

Peter Cullum is our saviour, dont make me laugh, if he TRULY cared about the club, he would have paid the asking price knowing that its a fair price. The current board are only going to sell if they can gaurantee the clubs long term financial safety, otherwise we could end up with a Peter Risdale or someone like that.