Well that's another $64,000 question isn't it?

I presume the starting point for valuation is Assets - Liabilities, then adjusted for future profits. Judging by the comment that Downes made about the club being technically insolvent, and Cullum's comments in the EDP on 30th June I'm sure the real sticking point was the valuation of the fixed assets - nothing to do with buying or not buying Delia's shares. I can't see any way that a shareholding of ?20 million WOULDN'T get Cullum control, my guess would be that he felt it would get him the 75% (I think) that he would need to take it private again. If he thinks the property values are hugely overstated then perhaps he thought it should bring him 90%.

Posted By: Mr Creosote on July 13th 2008 at 12:59:18

Message Thread

An INCREDIBLE Delia youtube. Where do we go from here?! (NCFC) - songwriter81, Jul 13, 10:32:44
- Or alternatively it could mean that PC's offer (NCFC) - Boris Johnson MP, Jul 13, 11:33:20
  - Is *exactly* what I was thinking (NCFC) - Sugbad The Bad, Jul 13, 11:34:33
    - Wave it about in the press and it makes lovely headlines though... (NCFC) - Boris Johnson MP, Jul 13, 11:37:42
      - But you don't do you? (NCFC) - Mr Creosote, Jul 13, 11:50:53
        
        Exactly - he didn't want to BUY Delia's shares - he wanted them for nowt (n/m) (NCFC) - Atomic Squirrel, Jul 13, 12:26:29
        
        And your source for that is? (NCFC) - Mr Creosote, Jul 13, 12:28:15
        
        Ummm (NCFC) - Old Git, Jul 13, 12:17:53
        
        Why can't idiots see that instead of blub central and shameful insults? (n/m) (NCFC) - pants, Jul 13, 12:32:15
        
        Two things (NCFC) - Mr Creosote, Jul 13, 12:25:19
        
        More things (NCFC) - Old Git, Jul 13, 12:59:43
        
        But then (NCFC) - Mr Creosote, Jul 13, 13:14:33
        
        Dunno about your figures (just *how* does one value the club?) (NCFC) - BerlinCanary, Jul 13, 12:50:32
        
        That's wrong (NCFC) - Old Git, Jul 13, 13:00:27
        
        Yeah but (NCFC) - Mr Creosote, Jul 13, 13:02:13
        
        Yes (NCFC) - Old Git, Jul 13, 13:06:06
        
        Well that's another $64,000 question isn't it? (NCFC) - Mr Creosote, Jul 13, 12:59:18
        
        No-one expects the Spanish Inquisiton... (n/m) (NCFC) - Mr Creosote, Jul 13, 12:25:56
        
        lol (n/m) (NCFC) - Old Git, Jul 13, 12:53:16
- Sccop! (NCFC) - Tomblander, Jul 13, 11:30:55
  - Yes, (NCFC) - Sugbad The Bad, Jul 13, 11:32:01
    - you kmow what follows? (n/m) (NCFC) - Tomblander, Jul 13, 11:32:43
      - Yes, Kmow (n/m) (NCFC) - Tomblander, Jul 13, 11:33:05
        
        Um........you call me a poof? (n/m) (NCFC) - Sugbad The Bad, Jul 13, 11:33:33
        
        No! (NCFC) - Tomblander, Jul 13, 11:34:06
- I wish every Norwich fan could see this!!! (NCFC) - Yellow Ice, Jul 13, 11:29:40
- Unbelievable (n/m) (NCFC) - Duck, Jul 13, 11:28:42
  - As I've already said.....what is the uproar? (n/m) (NCFC) - thirsty work, Jul 13, 11:42:01
- This is just another utterance (NCFC) - bowfront1, Jul 13, 11:08:42
- WOW! The interview where Delia officially hangs herself! (n/m) (NCFC) - voice of the fans, Jul 13, 11:06:18
  - I disagree in part (NCFC) - Sugbad The Bad, Jul 13, 11:16:55
  - This definitely proves once and for all that Delia is (NCFC) - bowfront1, Jul 13, 11:14:43
- This video is not available in your country. (NCFC) - thirsty work, Jul 13, 11:03:36
  - Mayo asks her about the state of the club (NCFC) - Sugbad The Bad, Jul 13, 11:14:15
    - Lummee! Bit of a smoking gun or what? (NCFC) - BerlinCanary, Jul 13, 12:37:07
      - That's not quite what she says (NCFC) - Mr Creosote, Jul 13, 12:41:26
    - When was the interview? (n/m) (NCFC) - thirsty work, Jul 13, 11:23:50
      - February of this year (NCFC) - Sugbad The Bad, Jul 13, 11:30:04
        
        without seeing it....... (NCFC) - thirsty work, Jul 13, 11:33:35
        
        Interesting question (NCFC) - Sugbad The Bad, Jul 13, 11:36:31
- Wow (NCFC) - conker, Jul 13, 10:59:54
- interesting, esp as she mentioned ?20m specifically (NCFC) - lmc, Jul 13, 10:58:54
- NCFC (NCFC) - bowfront1, Jul 13, 10:56:21
  - yes he offered 20 million, but wanted control for free. was never gonna happen... (n/m) (NCFC) - forzancfc, Jul 13, 10:58:53
    - What actually is your reason for saying that? (NCFC) - Mr Creosote, Jul 13, 11:35:45
    - Seems PC Ticked Lots Of Boxes.... (NCFC) - Martin Peters, Jul 13, 11:04:03
      - yep, cullum definitley saw that interview. hence the 20 mil offer for players (n/m) (NCFC) - forzancfc, Jul 13, 11:09:04
        
        I have to think he did (NCFC) - Sugbad The Bad, Jul 13, 11:27:49
        
        Except that (NCFC) - Mr Creosote, Jul 13, 11:33:20
        
        exactly! (NCFC) - SCC 28, Jul 13, 12:58:05
        
        That's what I'm mulling over right now (NCFC) - Sugbad The Bad, Jul 13, 11:38:16
- she looks fed up (n/m) (NCFC) - forzancfc, Jul 13, 10:49:40
- ^^^ Really is a must see ^^^ (n/m) (NCFC) - songwriter81, Jul 13, 10:40:02

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