Balance sheet is horrible and getting worse.
I'm beginning to thing that SFXE is willing to spend anything "building" a portfolio no matter how expensive and unprofitable the individual events are. All claiming they are building for the future.
All the while, NGHT is forced to ante up their prorate share of the expenses. SFXE and Sillerman can endure some of this, although they are in bad shape as well. NGHT can't fund there share and can't borrow. I suspect part of their payables are being floated by SFXE just to keep them alive.
Maybe part of SFXE's strategy on the stuff with NGHT has a secondary motive as well. To basically force NGHT into selling the assets or company to SFXE for virtually nothing. Don't get me wrong, NGHT is miniscule as it relates to SFXE's strategy. I'm just speculating that they know NGHT can't endure the costs of funding large investments in losing properties. So NGHT is between a rock and a hard place. No money, no realistic source of capital and so fully committed to doing Disco Donnnie productions, they have nowhere else to turn.
As UK said, it's over and the end game might just be to sell for a position that pays them some salary.
