JD1
Registered User
- Sep 12, 2005
- 16,130
- 9,701
I agree. That's would be a bit weird...but really at the end of the day it all comes down to a $ amount. Let's say that the risk is 150 mil. I have no idea if that is even near the amount but it's the best I can estimate for covering interest on 500 mil for 10-15 years.
Somebody has to pay this amount. Maybe it ends up being 100 mil, maybe with 900 Albret it's 200 mil. Whatever it is, if Melnyk is to be believed then the difference is the amount that sunk Melnyk's financing.
But regardless of the difference, it's still 100 mil, or some other very big amount.
Melnyk wants Ruddy to pay this and take the risk it could be higher.
Ruddy wants Melnyk to pay this and take the risk it could be higher.
It's a a game of chicken, and maybe they announce an agreed upon split tomorrow, but more likely they either have 1) decided they can't work with each other regardless, or 2) one side doesn't not have enough money even at a reasonable compromise. Or both.
I don't think either one really cares who gets to sell the land 30 years from now because they will both be dead. So all that really matter is who is going to pay for the financing because all other costs will be covered by the operator once it's built, which will be the sens.
Sidebar - Honestly, outside of 1-2 articles the coverage of this story has been pretty pitiful. We're 2 years into this thing, with billion dollar lawsuits back and forth, and nobody can figure out/summarize what the full mechanics of the deal actually are.
I still don't understand the statement about not owning the rink ANYWAY.
had it proceeded as planned who was actually going to own the rink?