The Honey Badger
Jim Lenehan (48)
I recall reading that, with regard to the court matter, the board had given Castle a number that they were prepared to go to as a settlement. The settlement figure was significantly less than the board's maximum so she could close the deal on the spot.
I imagine there could have been a similar scenario with the Fox negotiations. I.e. if Fox offer $x take it, otherwise...
I believe there was a component to the plan that the media rights were structured in a way to get A game live on FTA TV.
I would think the board were all across that and wanted the same.
I suspect the Fox counter bid was again on an exclusive Live matches basis. So that is probably why it was not accepted, and RC may have refused it on the grounds they wanted FTA.
And surely once you say to the market you are going to a open tender , then you would be obliged to wait until all parties had submitted their bids.
I dont understand the bit in the article about Fox being relieved the offer had been declined. As far as I know the process was still underway and had been postponed due to Covid 19. Fox's bid should have still been alive and in the mix.
It seem apparent to me that Fox well knew RA had a better deal in the making involving 10 & Optus, and that is when the wrecking started.