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Peter Cullum, the insurance businessman interested in buying Norwich City, will have to spend £56 million on the club if he is to take control.
He has already made a bid for the club after presenting the board with an informal offer in October.
The offer would see Delia Smith stay on the board but it was rejected because the terms were not financially acceptable.
A statement from Norwich appears to welcome the prospect of outside investment by breaking down some acceptable terms for potential bidders to meet.
The club said it would look at the individual and their aims, as well as the financial viability of an offer.
A statement said that anyone looking to take control of the club would have to pay £56 million, including £20 million to invest in the playing squad.
On top of the £20 million needed to purchase new players, a potential investor would need to purchase £16 million worth of shares, pay off £16 million of debt and repay £4 million of directors' loans.
"The board remains open-minded about future investment and will continue to seek new investors," the statement said.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
