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lappinitup

How much would Peter Cullum have to pay for NCFC now?

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When Peter Cullum offered his derisory £20m for the club, we were struggling both on and off the pitch. He was told it would take at least £56m to buy the total shareholding in the club, (£16m for all the shares (@£30 each), £20m for his player investment offer, and £20m to honour the debt.  So, did he miss a trick if he believed he could achieve the same success as Delia and Michael have done?  

We own our own stadium which sells out almost every game, we have income from the hotel and the clubs restaurants and bars, and obviously huge payments from TV.

Our playing squad must be worth around £50m in resale value, in fact, if one of our players shines over the next twelve months, this figure could be considerably more

Colney is ours which is soon to boast three state of the art training pitches and will include undersoil heating (although I think this only applies to one), and is home to a grade one academy.

My question is, how much would it cost to buy the club now and are the shares undervalued even at £100 each?

Also, if D&M make a huge profit when they sell, would anyone begrudge them it after all their work over the years?

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For the 17,328th time...Peter Cullum never offered £20million for the Club.

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[quote user="LQ"]For the 17,328th time...Peter Cullum never offered £20million for the Club. [/quote]

He wanted "control" for his £20m so what would you call it?

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He offered precisely nothing for the Club.The "offer" was for £20million over three years as ''investment'' and if it didn''t work (how he wanted it to) he walked away a free man AND the Club would owe him that money (to be repaid immediately) plus any other debt accrued under the PC board.

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Courtesy of Purple Canary.......

1. Cullum had no interest in becoming a minority investor. He wanted to take the club over by becoming the majority shareholder. As he said: "I''m not prepared to put that sort of money into the club without having control." After talks broke down in the summer of 2008 the EDP said it understood the £20m was for control, and without that Cullum would not invest a penny.2. Cullum did not want to buy existing shares but to acquire new shares (potentially putting money into the club). "As I''ve always said it''s not my intention to buy Delia''s shares." (EDP interview July 3rd, 2008).3. However the deal worked, Cullum was not talking about spending more than £20m to acquire the club. That was the only figure he mentioned, as in: "The £20m is an investment that is unlikely to yield a good return other than emotional." So whatever he had to pay for shares would presumably have come out of that £20m. As would however much (if any) of the £20m debt (the amount at the time he went public) he had to repay. If, for example, as the EDP later said it understood was the case, AXA had called in its £12m, the amount available for players would have straight away fallen to £8m. If the Turners had called in their interest-free £2m loan, that also would have come out of the £20m. However Cullum had rejected repayment as an option. "As I''ve always said it''s not my intention...to pay off the club''s debts." (EDP interview July 3rd, 2008).4. There was never any suggestion from Cullum that he would provide long-term funding once he''d bought the club. Indeed he stressed thart he would not. In that June 30th story that started the public saga the EDP reported him saying that he was not going to keep putting more and more money into the club and adding: "I am not an English version of Roman Abramovich."

If he (as stated) wanted control, then he had to buy shares. There is no way he could then have demanded his money back if it didn''t work out.

http://thecanarypurple.homestead.com/about.html 

So,  for the 17,328th time........you''re wrong. [:D]

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Ahhh...Of course - Purple Canary, the font of all knowledge [:P]The same font that I''m sure will tell you that what someone says to the press, especially when someone is on the rabble-rousing trail, is always "FACTS!!!!!"Still, it''s silly-season. There''s nowt else to talk about so let''s do the Cullum thing one more time [:|][;)]

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my initial opinion was at least £100Million to buy the club.

if you want someone else''s opinion

http://www.sportingintelligence.com/2013/03/25/from-man-utd-at-1bn-to-wigan-at-42m-whats-your-club-really-worth-250102/

but that''s a little out of date. You can add another 20-30 million to that value now

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It was a bit silly of me to mention Cullum but I used him to compare valuations between then and now. As the title says, how much do you think he (or anybody else for that matter) would have to pay to take control of Norwich City Football Club? And is there anybody out there who would begrudge Delia a "nice little earner"?

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wrt Sith and Jones making money on the club, I have no problems with it. They have put a lot of time an money in, plus put up with a lot of stick from some of the ''fans''

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[quote user="spudgfsh"]wrt Sith and Jones making money on the club, I have no problems with it. They have put a lot of time an money in, plus put up with a lot of stick from some of the ''fans''[/quote]

Any stick was Justified. If they hadn''t got lucky with McNally we''d probably be begging the scum to give US a game this summer rather than the other way round....

;-)

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[quote user="lappinitup"]It was a bit silly of me to mention Cullum but I used him to compare valuations between then and now. As the title says, how much do you think he (or anybody else for that matter) would have to pay to take control of Norwich City Football Club? And is there anybody out there who would begrudge Delia a "nice little earner"?[/quote]

 

No, Lapp, it was not silly of you to mention Cullum. If he wasn''t interested in control of the club he sure had a lot of people fooled by his actions. Your point was a reference to then versus now. Then, Cullum was waltzing into both a private and public forum to give the impression of a white knight ( as long as he had the power he wanted in any takeover ) while offering nothing for shares. Anybody heard a peep from him lately? It may never be forthcoming but I, for one, would love to hear frank input from Michael and Delia someday on both the Cullum "initiative" as well as the Turners departure. 

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[quote user="Zak Van Burger"]D & M are perfectly entitled to make a profit on their investment but I think the amount of profit should be strictly limited to say "What Watling Walleted" X 2.
[/quote]

 

I don''t s''pose anyone who posts on here would have any idea how much that could be[:^)]

 

 

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[quote user="Sons of Boadicea"]I reckon the club has got to be worth £200M.......[/quote]

That''s how I see it SoB. Which begs the question, are the shares undervalued even at £100 each?

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[quote user="alartz"]Whatever he did or didn''t offer. I bet he''s got that stinging sensation on forehead from his hand shouting D''OH!!!!!![/quote]eh ?a chancer who hoped to get his hands on the clubs assets for peanuts that''s allnone of what followed after the season ended would have happened had the club been in such a parlous state as our impoversihed neighbours, that it had to be handed over to this shysteryou might just as well say that Giovanni de Stefano must also be banging his forehead

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[quote user="YankeeCanary"]

 

No, Lapp, it was not silly of you to mention Cullum. If he wasn''t interested in control of the club he sure had a lot of people fooled by his actions. Your point was a reference to then versus now. Then, Cullum was waltzing into both a private and public forum to give the impression of a white knight ( as long as he had the power he wanted in any takeover ) while offering nothing for shares. Anybody heard a peep from him lately? It may never be forthcoming but I, for one, would love to hear frank input from Michael and Delia someday on both the Cullum "initiative" as well as the Turners departure. 

[/quote]

 

Yankee, I think that bald and combative £56m statement from the club was a not very coded indication of what Smith and Jones thought about Cullum going public.

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[quote user="PurpleCanary"][quote user="YankeeCanary"]

 

No, Lapp, it was not silly of you to mention Cullum. If he wasn''t interested in control of the club he sure had a lot of people fooled by his actions. Your point was a reference to then versus now. Then, Cullum was waltzing into both a private and public forum to give the impression of a white knight ( as long as he had the power he wanted in any takeover ) while offering nothing for shares. Anybody heard a peep from him lately? It may never be forthcoming but I, for one, would love to hear frank input from Michael and Delia someday on both the Cullum "initiative" as well as the Turners departure. 

[/quote]

 

Yankee, I think that bald and combative £56m statement from the club was a not very coded indication of what Smith and Jones thought about Cullum going public.

[/quote]

 

I agree Purple. Regardless, I still think there is "more" that I would be very interested in hearing, even though I acknowledge that is unlikely to happen. Do you have any insight as to whether the Turners have pursued any other extracurricular activities beyond CT Capital PLC ( as I now understand they are referred to )? Certainly, in the long annals of NCFC history, it was, at the very least, an interesting 16 months given the Turners involvement with Peter Cullum appearing on the scene smack dab in the middle of it. 

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[quote user="YankeeCanary"][quote user="PurpleCanary"][quote user="YankeeCanary"]

 

No, Lapp, it was not silly of you to mention Cullum. If he wasn''t interested in control of the club he sure had a lot of people fooled by his actions. Your point was a reference to then versus now. Then, Cullum was waltzing into both a private and public forum to give the impression of a white knight ( as long as he had the power he wanted in any takeover ) while offering nothing for shares. Anybody heard a peep from him lately? It may never be forthcoming but I, for one, would love to hear frank input from Michael and Delia someday on both the Cullum "initiative" as well as the Turners departure. 

[/quote]

 

Yankee, I think that bald and combative £56m statement from the club was a not very coded indication of what Smith and Jones thought about Cullum going public.

[/quote]

 

I agree Purple. Regardless, I still think there is "more" that I would be very interested in hearing, even though I acknowledge that is unlikely to happen. Do you have any insight as to whether the Turners have pursued any other extracurricular activities beyond CT Capital PLC ( as I now understand they are referred to )? Certainly, in the long annals of NCFC history, it was, at the very least, an interesting 16 months given the Turners involvement with Peter Cullum appearing on the scene smack dab in the middle of it. 

[/quote]

 

Oh I am sure there is more they could say, Yankee! Like you I doubt they will. As to the Turners, I haven''t followed their post-NCFC career at all. And if there is a story behind them joining the board and then leaving a year and a half later I certainly don''t know what it is. There was, as you indicate, a conspiracy theory that they were stalking horses or even spies in the camp for Cullum. The chronology fitted very neatly. They joined the board in May 2007 and Cullum started takeover private talks in the winter of 2007-08, and then went public in the summer of 2008. And two or three months after those talks collapsed the Turners walked out!But I like evidence and FACTS!!! and I don''t know of any that support the theory. So I don''t believe it. IF the Turners were somehow there to smooth Cullum''s path it didn''t work. Cullum handled the whole affair totally hamfistedly. But, again, I think the blame for that lies with him alone.

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Was the European credit crisis not reported in planet Norfolk?

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[quote user="T"]

Was the European credit crisis not reported in planet Norfolk?

[/quote]

 

I imagine it was T. [:D] However, it is unlikely that those named, who were highly involved in the world of finance, were at least a little bit ahead of the curve before the public became fully aware of some of the announcements in August/2007.

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I just liked the fact LQ came out from the shadows to post on this thread.

Is Cullum a personal friend Lisa?

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I would think it would be hard to sell the club now for its actual value.

Obviously its worth millions because of the tv revenues etc etc however there is not the upside of other clubs for example a leeds, sheffield Wednesday, Nottingham forest etc

So what you have a club nearly at its peak income wise and any expansion may or not pay off (as we see from the board already re the stadium).

consolidation will gradually see the wages creep up and it will take a lot of discipline to keep those wages down.

Easy money Arabs and Russians love London mostly so it is unlikely they will want to buy Norwich for the hundreds of millions it may be worth.

You also have to say a few key staff going and a relegation and the value plummets so the risk is very high.

This article states about 90 million£ + and I would say thats about right without adjusting for the new tv deal which would bump it up significantly.

Saying that I would never buy a football team to make money it seems like the best way it to buy a team get promotion and then bail out before the wages get out of hand and/or you get relegated.

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