9 Jul 2008Cullum: Norwich deal still alive

Football Clubs News | Football Finance News | Football Referees, Players, Managers and Media

Peter Cullum, the millionaire businessman interested in buying Norwich City, appears to have re-opened talks with the Canaries' board.

Norwich had set a price of £56 million for any takeover deal and rejected the initial approach of £20 million from Towergate Partnership, of which Mr Cullum is chairman.

Speaking to EDP, Mr Cullum said he received a call from Delia Smith's representative stating that the board were willing to talk.

He said that commitments were preventing him from speaking to the board immediately but believed negotiations would be substantial.

"Discussions are all about negotiations. I will be talking to them with an open mind," he explained.

According to the EDP, the discussions are being mediated by Andrew Turner - a director at the club - and could rekindle a potential deal after it appeared to be lost.

Mr Cullum believes the price of the club is fair, although he believes the price of the debt could be negotiable.

"There might be clauses with the loan providers, but I know those providers would be happy to renegotiate with me," he said.

© Copyright