Delia Smith gives up control of Norwich City after 27 years and legendary cook won’t receive a penny from sale

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.

Rex

Delia Smith has sold her controlling stake in Norwich[/caption]

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Delia and husband Michael Wynn Jones have owned the club since 1997[/caption]

Attanasio 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.”

Delia bought Norwich in 1997 shortly after they were relegated from the Premier League, which left the club in a perilous financial state.

She and her husband had been season ticket holders and were invited to invest in the club, and once they did Delia quickly took up a role revamping Norwich’s matchday catering.

Since taking over Delia has experienced many highs and lows with the Canaries, including dropping to the third tier in 2009.

Norwich have also won promotion to the Prem five times under her stewardship, and relegated the same amount, meaning the Canaries have suffered more relegations from the top flight than any other team.

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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.”

Subject to shareholder approval, Delia will step down as a director and become an honorary president of the club.

Attanasio will continue as a director, a role he has held since September 2022, when his group bought a 15.9 per cent stake in Norwich.

Norfolk Holdings upped that to 40.4 per cent in April and they now have a majority stake, which means they can appoint another director to the board having already brought in Richard Ressler.