Mark Attanasio edged closer to an involvement in Norwich City after shareholders passed four resolutions at Monday night’s general meeting at Carrow Road.
Under 50 shareholders were in attendance along with the Canaries’ full board of directors, with each motion passing. The club will now finalise the paperwork and confirm exactly what the extent of the Milwaukee Brewers owners’ role will be in the coming days.
What remains up for debate is whether long-serving director Michael Foulger will remain on the board, despite an agreement with Attanasio that will see the American purchase his 15.9pc shareholding in the club.
The vast majority of City shareholders voted by proxy, with a short question and answer session taking place prior to the voting of resolutions.
Resolution one, around the creation of C Preference shares that would provide a window for Attanasio to potentially invest up to £10m between now and December 31, and resolution four, the appointment of the American multi-millionaire to the club’s board of directors which, now the motion has passed, will be pending EFL ratification.
Resolution two, a motion that gives directors the power to 'allot equity securities' - potentially converting those C Preferences shares into equity after seven years or upon certain trigger events, and resolution three, the draft articles of association attached to the letter to be implemented, were more complex however, requiring 75pc of shareholders to vote in favour, something that was forthcoming.
The club will now finalise putting those resolutions into action, something is delayed partially due to the time difference with Attanasio currently in the US.
With the 64-year-old poised to become the first overseas director in the club’s history, executive director Zoe Ward outlined the benefits of bringing the Brewers owner on board.
"It is clear from our many meetings with him, along with his approach to running his sports team in the US, that we share the same values and ethos,” Ward said in the matchday programme column prior to City’s 3-0 win over Coventry.
"Mark, like us, constantly looks at different ways to achieve growth and improve on-field performance. His experience and knowledge will be a big asset to the board in the coming years.
"He has owned the Brewers since 2004 and his passion for sport will bring a different insight and perspective to the club.
"Mark has been the driving force behind their data-orientated approach and our football department is one of the areas who are looking forward to learning from his Major League Baseball model."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here