Norwich City confirm investment talks with fresh news expected in 'coming weeks'

Carrow Road, the home of Norwich City.
American investors visited Carrow Road earlier this year.

Norwich City have confirmed that talks have taken place with potential investors over the transfer of shares, with news expected in the "coming weeks."

Speaking at a fans Q&A event in Edinburgh ahead of Sunday's friendly against Scottish side Hibernian, senior club officials told fans that an update could be forthcoming in the near future.

It's understood that the club's second-largest shareholder, Michael Fougler, is looking to sell his 15.9% stake, which could pave the way for a new director to join the board to replace him.

Majority shareholders Delia Smith and Michael Wynn-Jones.

American businessman Mark Attanasio, who owns Major League Baseball side the Milwaukee Brewers, was in attendance for Norwich's final game of last season at Carrow Road - alongside some of his associates.

The group included the Brewers' president of baseball operations, David Stearns, as well as Mr Attanasio's sons.

Although Mr Attanasio's name wasn't specifically mentioned by the panel at Sunday's event in Edinburgh, this latest development will fuel speculation that he is looking to firm up his interest.

Mr Attanasio, who is reportedly worth $700 million, was born in The Bronx in New York and has helped transform the Brewers' fortunes since taking over the franchise in 2005.

Despite not being among the biggest franchises historically, the Brewers have made the play-offs in the MLB for the past four seasons.

It's not clear what the make-up of any investment at Carrow Road would look like, but it's not inconceivable that Mr Attanasio would attempt to do something similar to what NFL franchise the San Francisco 49ers have done at Premier League side Leeds United.

The 49ers initially purchased a minority stake in the Yorkshire-based club, with a view to eventually completing a full takeover further down the line.

Norwich were relegated from the Premier League last season and will be aiming to bounce back at the first attempt by sealing another promotion from the Championship.

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To know...