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Started By
Message
re: Okay, About Ownership
Posted on 3/2/11 at 9:23 am to Jester
Posted on 3/2/11 at 9:23 am to Jester
quote:
The team had huge debts attached to it that needed to be resolved before any intelligent businessman would drop $300 million
assuming the debt payoff was included in the $300M, i don't really think it makes a difference
hell, buying the team with the debtload would mean he'd be directly involved in negotiating the debt down, so it may have been better to buy with the debt
1
Posted on 3/2/11 at 10:25 am to SlowFlowPro
quote:
assuming the debt payoff was included in the $300M, i don't really think it makes a difference
hell, buying the team with the debtload would mean he'd be directly involved in negotiating the debt down, so it may have been better to buy with the debt
It certainly could have been done, but most intelligent people don't buy a ship (since we're talking Chouest) that has a gaping hole in the hull and is sinking. Shinn was losing a lot of money and wanted out from under it. If it was that easy to sell, he would have.
Like, I said, it isn't a used car. You can't just decide you're done with it and expect to have a deal in place by the end of the week.
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