Billionaire prepares bid for football club

Peter Cullum
Peter Cullum

Kent insurance billionaire Peter Cullum has launched a battle to become a majority shareholder of Norwich City - the club he has supported since childhood.

The executive chairman of Maidstone-based Towergate, who was born in Norfolk, has confirmed he was ready to put in up to £20m to buy players.

He said he had made an informal offer to joint majority shareholders Delia Smith and Michael Wynn Jones in October, and he said the offer still stands, despite talks breaking down.

A local newspaper has launched an online poll to assess Canaries fans support for the bid.

"I don't believe I can ever make money out of a football club," he told the Eastern Daily Press.

"This is about passion and love for the club. But I'm not prepared to put that sort of money into the club without having control."

Mr Cullum once played for Norwich City Boys.

He is said to be worth £1.7bn and was was 40th on the Sunday Times Rich List 2008. Towergate employs 250 in Kent, and has offices at Whitstable and Sevenoaks, as well as Maidstone.

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