DELIA SMITH has sold her controlling stake in Norwich after 27 years in charge.
Norfolk Holdings, a group run by American businessman Mark Attanasio, have bought the Canaries and will take on the club’s debt, totalling around £59million.
RexDelia Smith has sold her controlling stake in Norwich[/caption]
Attansio will hold an 85 per cent stake with Smith and her husband Michael Wynn Jones retaining 10 per cent.
But Smith and Wynn Jones will not receive a penny after handing over the reins.
The couple want to ensure the “long-term financial security of the club” and they both feel Norfolk Holdings will take the club forward.
Delia and her husband first met with the group in 2022 and feel the structure of the takeover deal secures “the long-term financial security of the club and an effective and positive transition.”
Norwich released a statement which read: “Delia and Michael have always been clear that they would act in the best interests of the club when passing on stewardship of it.
“In selecting Norfolk Holdings following their introduction to the club in 2022, and further strengthening of the relationship and alignment of interests since, Delia and Michael feel that the group are best placed to be the next custodians of the club.
“By structuring the agreement in this way – which involves no payment to Delia and Michael in exchange for the issuance of the preference shares that enable Norfolk Holdings to acquire majority control of Norwich City – the parties have secured the long-term financial security of the club and an effective and positive transition.”
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