| SOE didn't repay the budget costs on this ($30 M or whatever). That number never even enters the equation. That money is spent, lost.
SOE is in the cat-bird seat on this. If they don't buy it, it's flushed. Everything is gone. While it's probably true that they won't get ADDITIONAL funding to take it over, I feel I can safely say whatever they 'pay' will be on the backend.
It's already a failed project. SOE isn't coughing up any notable cash for it, but is rather taking it on as a burden. IF it makes money eventually, then there will be provisions to repay the original investment. This scenario is simplified somewhat, but if you think SOE sunk any actual cash outlays into 'buying' this I'd say think again.
PS: You can bet your ass Brad feels this failure in the base of his balls. Anyone who has a huge payday expected already has all of the money earmarked -- family, fun, retirement, etc. He's mentally had VG money spent for YEARS now. Believe me, he's feeling real pain.
Last edited by Stoerm; 05-14-2007 at 11:34 PM..
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