23XI statement on not signing Charter agreement

StandOnIt said:
The first flaw was on the 23XI crew in the opening statement. There is no way a charter is like leasing a home.
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Juror #5 scratching his head, "These guys want the landlord to give them the house?"

A truly misleading analogy. Will jurors understand it cost nothing to create the charters? Looks like a tactical error from here.
 
Charlie Spencer said:
Juror #5 scratching his head, "These guys want the landlord to give them the house?"

A truly misleading analogy. Will jurors understand it cost nothing to create the charters? Looks like a tactical error from here.
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When the charters/leases are set to expire, you have to renegotiate every time. Endless negotiating.
 
Charlie Spencer said:
I'm not familiar with this type of transaction. Does the new lessee write a big honkin' check to the outgoing tenant?
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In theory, you could do that. As long as your lease allows it and your landlord approves it.

It’s common in commercial real estate. Businesses do it all the time. If I own a bar and rent the space and I sell my bar to a new owner, they also purchase my obligations under the lease.
 
Naitch said:
In theory, you could do that. As long as your lease allows it and your landlord approves it.

It’s common in commercial real estate. Businesses do it all the time. If I own a bar and rent the space and I sell my bar to a new owner, they also purchase my obligations under the lease.
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Unless they are written out of the contract.
 
Naitch said:
It’s common in commercial real estate. Businesses do it all the time. If I own a bar and rent the space and I sell my bar to a new owner, they also purchase my obligations under the lease.
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But that's you, the owner, selling your bar and getting paid. That isn't the bartender / operator arranging to have someone else take over the lease and paying the old guy.
 
Charlie Spencer said:
But that's you, the owner, selling your bar and getting paid. That isn't the bartender / operator arranging to have someone else take over the lease and paying the old guy.
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But the owners aren’t employees of NASCAR. No one is arguing that Todd Gilliland should be able to sell Front Row’s charter.

In this analogy, NASCAR is an apartment/commercial building owner.
 
Naitch said:
But the owners aren’t employees of NASCAR. No one is arguing that Todd Gilliland should be able to sell Front Row’s charter.

In this analogy, NASCAR is an apartment/commercial building owner.
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I'm glad it's clear to you. My point is more about wondering if the jury will understand than about me getting it. I've about given up.
 
StandOnIt said:
Ouch. They are charging themselves 1 million a year for rent on their own building.
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That’s a lot of detail in Srigley’s postings. Includes more about how despised Hamdip is by team execs for his lack of business acuity. Here’s one Hamlin had to respond to…demonstrates how pitiful and living in squalor that team has it because of mean ol NASCAR:

> In 2021, 23XI Racing spent 17% of its yearly budget on a holiday party, to which Hamlin says, "We take care of our people."

ANY BUSINESS SPENDING 17% OF IT’S ANNUAL BUDGET ON A HOLIDAY PARTY IS FILTHY RICH IN CASH! Remember when I explained how these teams spend out their rear on everything they can to enable them to have significant tax deductions while limiting their EBITDA profit to minimal amounts? Saves paying taxes. So what does 23XI do when the company has a LOT of money left in that year from mean old NASCAR? Throw a corporate bash, claim it’s business related, and deduct it all from the bottom line.

PS - I’m sure someone had to explain that to Denny the “businessman”.
 
Conover said:
That’s a lot of detail in Srigley’s postings. Includes more about how despised Hamdip is by team execs for his lack of business acuity. Here’s one Hamlin had to respond to…demonstrates how pitiful and living in squalor that team has it because of mean ol NASCAR:

> In 2021, 23XI Racing spent 17% of its yearly budget on a holiday party, to which Hamlin says, "We take care of our people."

ANY BUSINESS SPENDING 17% OF IT’S ANNUAL BUDGET ON A HOLIDAY PARTY IS FILTHY RICH IN CASH! Remember when I explained how these teams spend out their rear on everything they can to enable them to have significant tax deductions while limiting their EBITDA profit to minimal amounts? Saves paying taxes. So what does 23XI do when the company has a LOT of money left in that year from mean old NASCAR? Throw a corporate bash, claim it’s business related, and deduct it all from the bottom line.

PS - I’m sure someone had to explain that to Denny the “businessman”.
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Denny is in so far over his head. MJ and Hamlin if given half a chance are spending money like drunkin sailors.
 
rd45usa said:
And that is why he is the main person put out front on this trail, doesn't hurt either that he was a star basketball player at UNC. I still think the teams ( all of them) are with 23XI and FRM behind the scenes (silent partners).
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The Felon et al. are going to let MJ take the hit. Hold his beer...they will owe him when this is done.
 
StandOnIt said:
Denny is in so far over his head. MJ and Hamlin if given half a chance are spending money like drunkin sailors.
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I don't think MJ et al. would let Denny get in over his head. You underestimate the intellect money can buy....and MJ has plenty of both.
 
wi_racefan said:
He said it take 20 mil a year to run a competitive car and that nascar should be giving teams 20 mil a year.....
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Fine....and what does it cost to build a winning car? There is a difference.
 
Pretty sure Hamlin knows win or lose his days of being a team owner in Nascar have a good chance of being numbered.
 
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