The BLM deal is sort of a no-brainer, like Romeu said today, "Do you want to have 100% control of a company that generates 10m or 50% of a company that generates 1 billion? Even if we didn't have any financial problems, I'd do it". Yes we will split profits in the next how many years until we buy it back, the idea is with financial and more importantly professional expertise, BLM will grow much bigger and we will benefit from that. My only concern is if we have the buyback in 5 or 6 years like they said, how much is it going to be/cost us, will we have the money to buy it back and if we don't, do we lose the buyback forever?
The TV rights deal is bad no matter how you look at it, but they have to do it in the current circumstances to be able to do anything, I suppose. One thing nobody asked today at the Assembly is will this be like the CVC deal where clubs have to repay the money, in addition to the 10% TV rights ceded to CVC, or we don't have to repay at all, it is just a sale with upfront fee in exchange for future revenue? I am hoping it is the latter. Romeu did say several times that it is a "sale" and not debt. Also, Romeu talked about how we can compensate the loss of 41.5m of lost TV revenue every year with increases in revenue from other channels, this is more of a wishful thinking. Where is the plan?
