|
I'm not sure who's spent/lost more money on OW in the last 10 or so years, TG or GF. Recall how many shares of CART GF owned and what happened to that value. In fact he kept buying shares when it didn't make sense to (eg. buying Penske's shares). Did TG get tired of spending his money before the series became solvent? Obvioulsy not. What makes one think that GF will become sick of it? Keep in mind that GF/KK have only spent 1.5 years subsidizing CC. Before it was just money from the selling of shares - although much of it was GF's.
As for the value of a business, one crude measure is to take the expected profits for the next 5 years and add them up (that's not a hard and fast rule, just one that's sometimes used - obviously substantial assets change that picture). We know they paid very little for the CART assets. I get the impression that Ford sold them Cosworth for little as well. Ford had union/employee concerns that seemed to trump other issues. I'm tyring to use these as examples to draw the point that getting half a share of the assets in question may not be an unaffordable quantity.
|