Yeah, I don’t know what Joel and Avram will do, but if the idea is that the club could be worth 10bn if ETH makes us successful again and OT is renovated/rebuilt — it’s not a good business case.
Say it will take 3 years (probably too optimistic). The value increase is 4bn, from 6bn to 10bn. But the clowns have no money, they need at least a 1.5bn investment. So of the 4bn increase, they only get 2.5bn.
If you invest 6bn, getting 8.5bn back after 3 years is not a very good investment. It’s 10% per year. Today you can — easily — get 5% risk free return. I think you must do a pretty awful job to not get a 10% per annum return over 3 years if you invest money on a currently depressed market.
And investing in this club is definitely not risk free. If you only get 7.5bn in 3 years, the Glazers will have had a zero return on a 6bn investment over three years, that’s horrible.
With that said — are Avram and Joel reasonable investors? From what I can tell, they are classic clueless kids who are playing with a late dads money. So who the heck knows what they will do.