Norwich City have confirmed that Mark Attanasio's led group have received ratification from the EFL to formally allow them to become joint majority shareholders of the football club.
It means that Attanasio's led Norfolk FB Holdings group reach parity with Delia Smith and Michael Wynn Jones in holding a 40.4pc stake in the club - ending a 26-year spell of sole stewardship which began in 1996.
Attanasio's group have now formally been allotted 195,012 shares, which will see his shareholding rise from 21.5pc to 40pc. The American has spent £5m ($6.02m) on the shares.
The agreement also saw Attanasio's group provide the club with a £33.64m debt payment package that has helped to ease the burden on their financial situation. Attanasio will also be given first refusal should Smith and Wynn Jones opt to sell their portion of the club and will vote in lockstep with the pair on shareholding matters for the next three years.
Shareholders voted in favour of the American increasing his involvement at a general meeting held at Carrow Road back in October.
The process proved lengthier than many imagined owing to every member involved in the group being individually checked for proof of funds—but it has finally been confirmed and the shares formally handed to the 65-year-old.
The vote saw shareholders approve a waiver granted by the Takeover Panel to their right to a mandatory offer for their share(s), which was triggered by the share allotment process voted on last year.
The Milwaukee Brewers owner joined Norwich's board in 2022, having purchased Michael Foulger's shares. He has subsequently hoovered up a host of other shareholdings. Those events mean that the Canaries Trust has become the third biggest shareholder in the club.
As part of the allotment, it's understood that Attanasio's group will be entitled to another seat on the board.
Speaking at November's AGM, Attanasio said of his relationship with Smith and Wynn Jones: "We’ve been working in partnership from the very beginning. Delia and Michael have been wonderful stewards here for 28 years.
"I’ve learned a lot from them. Not just about English football but also about life. It’s been a blessing to be able to work with them."
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