Delia Smith has agreed to a meeting with Peter Cullum
Norwich City have revealed that takeover talks with billionaire fan Peter Cullum have ended.
The chairman of Towergate Partnership had an initial �20m offer of investment in the Canaries turned down.
A Norwich statement read that "amicable discussions" had taken place between Cullum and majority shareholders Delia Smith and Michael Wynn Jones.
But after no agreement was reached, Norwich revealed "negotiations have been terminated with immediate effect".
Speaking to BBC Radio Norfolk, Norwich chief executive Neil Doncaster implied the deal faltered because of legal issues.
"Taking majority control of the club has costly implications, payment of debt and the cost of shares," he said.
"We dearly wish that this approach had resulted in more money for Glenn [Roeder], but clearly that's not to be the case.
"The club remains totally committed to bringing in new investment, ultimately what we all want is for more money to be made available to Glenn for his player budget."
Doncaster admitted there was some relief at being able to clear up uncertainty that may have been holding up Roeder's dealings in the summer transfer market.
"I don't think speculation about suddenly becoming a very wealthy club does you any favours in the transfer market," he added.
"The statement creates certainty that means we can get on with our business with clubs, agents and players having a more realistic assessment of the money we've got to spend."
It emerged at the end of June that 57-year-old Norfolk-born Cullum had offered the club �20m to invest in the team on the condition that he was given a controlling stake in the club.
The reaction of the club's board, including joint-majority shareholder Delia Smith, was to value a complete takeover at �56m, including repayment of the club's debt and total buyout of all the club's shares.
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