Here we go… again.
Following back-to-back pre-season defeats in Scotland to Celtic and Hibernian, and a complete fan meltdown on social media due to these results, there is at least one thing all City fans can now get excited about.
As reported by Sam Seaman on The Pink ‘Un, by club officials at the Q&A session in Edinburgh, and now by the club’s commercial director Sam Jeffery, the club is in talks over the transfer of shares. They expect this to be announced formally in the coming weeks.
To quote Sam (Seaman): “Questions were answered by a panel including financial director Anthony Richens, commercial director Sam Jeffery, legal and governance director Sam Hall and assistant sporting director Neil Adams, with majority shareholders Delia Smith and Michael Wynn-Jones in the front row.”
After a long period of silence, that is a very welcome piece of news.
This goes back to six months ago when our second-largest shareholder Micheal Foulger approached the club about selling his 18% shareholding. Then Mark Attanasio entered the frame.
The American businessman who owns the Major League Baseball franchise, Milwaukee Brewers and is estimated at roughly $700 million, attended our 5-0 loss to Tottenham – but that still didn’t affect his desire to invest in the club.
I’m not sure how that’s the case – but clearly, Attanasio didn’t seem to care about the result. Maybe he sees it as motivation to make this side as good as the Tottenham one which thrashed us, once he can invest funds into the club.
But despite his clear wealth – is he the one to take us forward? Will he genuinely care for the club and take us to the top? Or is the American going to sit back and observe without making it any better?
Well, let’s take a look at what he already does in Milwaukee. Does his involvement extend beyond just the team but also into the surrounding community?
Attanasio is considered to be one of baseball’s most involved owners – something that Delia and Micheal will largely approve of given their genuine care for Norwich City and its fans.
The American also sits on five committees in the MLB, including the labour policy committee – a committee that oversaw an increase in the minimum salary for players in MLB, from $570,500 a year to $750,000 a year.
So clearly he cares about player welfare and wants to improve the quality of the sport, which already has high interest from the general public in the US.
Also, his story with the Brewers since his purchase in 2004 is one of success rather than an expensive failure.
Just one year before he purchased the franchise, they lost 100 games for the first time in their history with a record of 56 wins and 106 losses. Given how last season went for City, in Premier League terms, our record feels very similar.
The next season after Attanasio’s arrival, the Brewers had their first positive record season after 12 consecutive seasons with a record of 81-81. If he could replicate a season like that in the Premier League (albeit in far fewer games) then it would put an end to four consecutive seasons ending in relegation.
The Brewers are now one of the bigger teams in MLB – currently sitting top of the National League Central Division.
But is he capable of repeating his success with a club that hasn’t stayed up in the Premier League since 2012-13?
That is a question many will ask, and only time will reveal the answer. After all, his investment is still yet to be confirmed and negotiations may yet fall through. And indeed, if he is only looking, initially at least, to take on Foulger’s shareholding, there will be no new money in the club – just expertise.
But it is something many NCFC fans have been praying for. This is exactly what we need to help us finally close the gap in quality that would then allow us to properly compete at Premier League level.
Yes, it might require a big investment and a multimillionaire to help us do so further down the line, but in modern football, when is that not the case?
But the money is only a part of it. I care far more about the fan involvement from an owner.
Too often in modern football, we see owners who don’t care about the hard-working fans who pay ludicrous money to watch their team. Mike Ashley instantly springs to mind, alongside the Glazer brothers.
And that’s why Delia and Micheal have been at our club for so long. They want what’s best for the football club and have never seen it as an investment they might lose money on.
If Mark Attanasio can replicate that, then we’ll be in equally as good hands alongside an influx of cash to build us as a club and help take us forward.
Maybe then the constant yo-yoing and the slander we receive as a result will come to its well-deserved end.
So get excited, it’s about time we had something to celebrate.
I’ll go as far as cautious optimism.
I will follow and agree caution optomismim is the least we can hope for.
I am wary of Delia being so set in her I know best ways that she will block any suggestions the Americans will make.
So far I do not see a great deal to get excited over, the deal is to sell the 18% stake Foulgers has, I take it that is his money to bank and rightly so. Although that gives Attanasio & Co a foothold, with that small amount they will always be out voted or whatever happens in the boardroom .
Whether any investment is forthcoming is a way off, with them coming into the club I would imagine our stock going up a little, but the big big if is, should the stowmarket two see that Mr Attanasio has the best interests of the club at heart after a good period of time, will they sell ?
Looking back over the years, it will cause many of us to say don’t hold ya breath, they do look to be stubborn at any costs. I cannot draw anymore than that about them as not in circle to know more.
So I will only say,this if it comes off is a step in the right direction
Unless I’m missing something, as things stand, this in not, in anyway, providing any additional funds to the club.
It’s merely the transfer of a substantial tranche of shares from one person to another.
The only person to benefit will be Mr. Foulger…..
O T B C
You’re right, John. As I see it, only Michael Foulger benefits financially (and fair play to him for that) and not a single cent, dime or dollar will make its way into the club. In the YouTube video released yesterday, commercial director Sam Jeffery was careful to stay clear of the “i” word, preferring instead to use “expertise”.
I guess we have to hope Mr Attanasio sees this as an in, with the possibility of taking a bigger stake in the future. Personally, I’m not convinced Delia and Michael feel yet ready to relinquish control of their baby.
what I said. but gives the Americans a foot in the door so to speak.
I am sure I read in earlier articles that Mr Attanasio’s running of the Brewers was very similar to the running of our club – building or maintaining good facilities and bringing in players who develop and have ensuring the club has good links with the local community. I got the impression he was not one who just splashed the cash and overpaid on players. He is buying Mr Foulger’s shares, so any cash will go to Mr Foulger. I sense this is a longer term move. Get a shareholding and an involvement in the club and over the years maybe increase the holding and maybe one day have enough shares to be majority shareholders … but in the short term, I believe there is an overlap on how he runs things in the Baseball league and how our club operates and as suggested above, this initial move may be just to explore ideas that he and his team have that will help further the development of our club
Your article states he is worth $700 million … in today’s Premier League many owners plough hundreds of millions into clubs – I cannot see Mr Attanasio risking a high proportion of his wealth on a gamble.
I live here in the states albeit nowhere near Milwaukee, Wisconsin. Everything I have ever read or heard of the guy could likely be summed up in 2 words – “positive” & “improvement”. That is in every aspect including the fan experience at their ballpark (stadium).