Bladesman
30-06-2008, 01:17 PM
Billionaire eyes Norwich takeover
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.
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.
Another take over on the cards.
I bet Norwich fans cant wait to see the back of Delia.
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.
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.
Another take over on the cards.
I bet Norwich fans cant wait to see the back of Delia.