(Image: Paul Chesterton/Focus Images Ltd)Mark Attanasio is set to increase his influence at Norwich City after shareholders gave the green light to the process which will see him join Delia Smith and Michael Wynn Jones as joint minority shareholders at the club.
At a general meeting on Monday evening at Carrow Road, shareholders voted in favor of a process which would see US group Norfolk FB Holdings hold a 40% stake in the club with Smith and Jones on an equal footing, thus ending a 26-year mandate.
sole manager, which started in 1996.
Shareholders were asked to vote to approve the waiver of their right to a mandatory offer for their share(s) granted by the Takeover Commission, triggered by the share allocation process decided at the start of the year .
The vast majority of shareholders chose to vote by proxy and around 20 of them attended a short in-person meeting at Carrow Road this evening.
A third-party company independently verified the result.
It was the result the club, Smith, Wynn Jones and Attanasio were all hoping for as they looked to move on to the next phase of American involvement at Carrow Road.
In the next step, Norwich will award 195,012 to the Attanasio Group, increasing its stake from 21.5 percent to 40 percent.
The American spent 5 million pounds ($6.02 million) on these shares, which will be awarded in due course.
It is now up to the EFL to carry out the necessary tests before the shares are allocated.
It is expected that this process will be completed before the club’s annual general meeting, which will take place in November.
As part of the deal, Attanasio’s group agreed to join Smith and Wynn Jones in voting on equity issues for the next three years.
He has the right of first refusal if in the meantime the couple chooses to sell their share of the club.
Delia Smith, Michael Wynn Jones and Mark Attanasio will become joint minority shareholders of Norwich City.
(Image: Paul Chesterton/Focus Images Ltd)Attanasio’s group will also provide the club with a debt payment package of £33.64 million, which will help ease the burden on their current financial situation.
The Milwaukee Brewers owner joined Norwich’s board of directors in 2022 after purchasing Michael Foulger’s shares.
He then sucked up a series of other titles.
These events mean that the Canaries Trust has become the third largest shareholder of the club.
As part of the distribution, it is clear that Attanasio’s group is entitled to a new seat on the council.