Ownership Changes At Norwich Signal End Of An Era
American businessman Mark Attanasio is set to increase his stake in Norwich City.
If approved by the Championship football club’s shareholders the move would see Attanasio achieve parity with current majority shareholders Delia Smith and her husband Michael Wynn Jones, who together own 40% of the club.
Attanasio is the principal owner of Major League Baseball (MLB) franchise Milwaukee Brewers and a part-owner of the American Hockey League’s Milwaukee Admirals.
His interest in Norwich City began in September 2022 when he acquired Michael Foulger’s 15.9% stake in the club.Attanasio’s increasing stake in the club is expected to be confirmed during a meeting at Carrow Road scheduled for 2nd October.
Speaking to ITV News Anglia, football finance expert Kieran Maguire said, “I think we’ve got to prepare for a changing of the guard as far as control of Norwich City Football Club is concerned, and it will be interesting times ahead. A lot of credit has got to be given to Delia and Michael, but I think they acknowledge that their ability to continue to fund the club is limited and they’re looking for alternative sources.“I think it gives the opportunity at some point for Delia to move on, perhaps to more of an ambassadorial role, and to continue to reduce her stake in the club. It doesn’t necessarily mean that she’ll be wanting money from it – it could be that the club will at some point in time issue some further shares, and effectively, the cake will grow but Delia’s slice of it will decrease as a consequence.”
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