Originally Posted by
GovClintonTyree
True, as long as they're controlled by Guggenheim, for whom they're almost a toy. It's worth pointing out that the team filed Chapter 11 as recently as 2011, though that was under Frank McCourt's stewardship. And when he sold the next year, he got $2.1 billion for the club. So despite having significant value, the asset's cash flow was insufficient.
What we're talking about are fairly substantial future obligations that they can plan for and that they have the advantage of the time value of money. But, they're in essence mortgaging the 2030s. They're betting they can outrun the debt, and as you say, they probably can. But it's a gamble.