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Old 11-09-2017, 07:03 PM
nksports nksports is offline
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Join Date: Feb 2005
Location: Newton, KS (the land of Oz)
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Quote:
Originally Posted by suge night View Post
Stadium Lease Agreement


Article 18.14 Proceeds from sale of Baseball Team

If Tenant assigns its rights under the Franchise Agreement or sells the baseball team that plays on the Demised Premises (and Tenant shall be permitted to make such assignment or sale only as otherwise permitted by this lease) then upon the consummation of such assignment or sale. Tenant shall pay Landloard cash in the amount equal to the lesser of twenty five percent (25%) of the net profit (according to GAAP) received by Tenant and or its Affiliates in connection with the assignment or sale, or $250,000.
It won't be 25% of profits. I doubt if there were any profits.
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