Crossposting from the other thread, but please consider the following scenario:
Suppose that Mit offered $4mm of a $10 mm buyout. Currie goes to negotiate it down to that. DM argues for $12. In the meantime, all of the hotels in Mit’s portfolio have to close down and the market drops by 33%. You can’t see a scenario where MIT makes a call and says “John, I want to help. But as of now, I need to pull my money back. Work out what you can, and once I learn if my hotels are shut down for 3 weeks or 3 months, and once we are open again and generating cash, we can reopen this discussion. My employees and my family’s wealth are a lot more important to me than whether or not Wake loses 20 games next year.”
Is that incompetence from Currie? Or just bad timing and bad luck? Even if he had the other $6 in cash, he can’t do anything.
Right now, IF that scenario is true, he’s doing a few things: working DM, waiting on the world to get back to normal so he can get that money that Mit will hopefully still be able to put up, and he’s looking for new sources of funding.
Finally, I agree with whoever said the BOT isn’t going to sign off on handing anyone a $10 million check right now, unless it’s for the rights to the Coronavirus vaccine. So even if they approved it 2 months ago, they will have pulled that approval now. The optics of what happens to our basketball team 8 months from now is WAY down their list of interests.