Quote:
Originally posted by indycool
That $25 million apiece figure, I believe, is in error. The paperwork so far limits their investment, after the sale goes through, to $15 million total with an option to liquidate on Feb. 28, 2005.
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It says here that the 15 million is only initial after the Acquisition. Initial by definition would suggest that there is more available beyond the 15 million.
"The Reporting Persons’ first priority for CART is to stabilize its financial outlook. Members of Open Wheel Racing have committed initial additional funding of $15,000,000 by Open Wheel Racing after the Acquisition; this commitment would enable Open Wheel Racing to provide additional funding to CART. "
http://www.shareholder.com/cart/Edga...1972&SID=03-00