| ChiswickEagle |
Peter Cullum has confirmed his intention to take over financially at Norwich City from Delia Smith.
The insurance billionaire has told the Eastern Daily Press he is willing to pump £20m into the club's transfer pot.
The lifelong Canaries supporter has built a personal fortune estimated at £1.7bn since founding the Towergate Partnership in 1997.
Cullum wants to become the club's majority shareholder, while keeping Smith as a club figurehead.
He said: "I don't believe I can ever make money out of a football club. This is about passion and love for the club.
"I don't want to be the front person for the football club - that's Delia. I don't want fame and publicity."
Cullum claims to have first approached the Canaries' board in October 2007, when the club was rooted at the bottom of the Championship. The fact that he's a Norwich City fan is very important, this is not some foreign billionaire coming in with no interest in the club
North Norfolk MP Norman Lamb
At the time his offer of £5m to fund immediate player aquisitions, with £15m to follow, was rejected after a "friendly arm-wrestle over the club's valuation".
Cullum says the offer still stands, and denies there is any hint of aggression in his move.
Carrow Road season ticket holder, and MP for north Norfolk, Norman Lamb is excited by the prospect of new money coming into the club.
"The fact that he's a Norwich City fan is very important, this is not some foreign billionaire coming in with no interest in the club," he said.
"This is a genuine supporter who, presumably, has the club's best interests at heart, on the face of it, it's really encouraging news."
Cullum, 57, was born and raised in Norfolk, he went to school at the City of Norwich Grammar School and even played at centre-half for Norwich City Boys. |
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| lanepe |
Wow - you should be able to finance a move into the Prem with that kind of money, and stay there, if spent wisely.
Not a done deal though as Norwich haven't acepted it yet. |
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| Gooders |
| Err, £20million is less than you get for getting promoted to the Premier League. A drop in the ocean. |
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| palacelad1970 |
| 20 m more than we got |
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| gold76 |
He's my boss!
Well sort off, Towergate bought us a few years back.. Hope the old coot buggers off & sells his shares, then I might get a few quid out of it! |
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| Norwoodguy |
I think Norwich have stated a price of £56m to get the club.
I have always liked Norwich and Delia - always struck me as a decent family club...... |
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| adrenalin john |
quote:
Originally posted by Norwoodguy
I think Norwich have stated a price of £56m to get the club.
56 million, that is a lot of dough even for the piegirl herself.
I am fairly sure she paid 6mill for the club and has never put a penny of her own money in.
That's 50 mill profit for Mrs Smith of Letsbe Avenue. |
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| brighton_eagle |
quote:
Originally posted by Gooders
Err, £20million is less than you get for getting promoted to the Premier League. A drop in the ocean.
Agreed. 2 million is a decent promise but not really a warchest. |
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| Latvian |
| Well I hope they get promoted. We always seem to be in the same division as them! |
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| Nelson Muntz |
quote:
Originally posted by brighton_eagle
Agreed. 2 million is a decent promise but not really a warchest.
This guy is seriously rich, seriously loves Norwich so expect more than 20m to be pumped in if it all goes through. |
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| BaldEagle96 |
The deal is off and all discussions have been terminated with immediate effect.
Link |
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