Norwich City: Delia Smith reduces stake to 10% and steps down as director

Attanasio’s group initially bought a 15.9% stake in Norwich, but in April the investment was increased and they became joint majority shareholders.

The deal involves no payment for Smith and Wynn Jones, both 83, and will see them step down from the club’s board, which they first joined in 1996.

They become honorary presidents of the club for life.

“Delia and Michael have always made it clear that they would act in the best interests of the club in passing on its management,” the club said in a statement., external

“By structuring the agreement in this way, the parties have secured the club’s long-term financial security.”

Norwich, who lost in the semi-finals of last season’s Championship play-offs, started the new season with a 2-0 defeat at newly promoted Oxford.