What was the offer our owners made to FK and when was it declined?
Repeatedly, offers were made, and there was a difference between the value of the product, the offer price, and Kassam’s valuation (presumably in increasing numbers accordingly).
Imagine you saw an item you currently rent that you wanted (and needed) to buy to make your business profitable but it wasn’t for sale. Let’s say, it was a one of a kind milling machine perfect to keep your business afloat. It was never quite finished but it still makes screws. When the previous owner sold the business to you he kept the machinery and rented it back. You get in touch with the owner. You ask if it’s for sale. He says at the right price.
You do research and find the value is around £20k. However, it’s also one of a kind so the owner has you by the balls. To get another one you’d have to spend lots of money to get it made and it’s made with rare bats and a bunch of people don’t want you to make it because they think you’ll make weapons of mass destruction with it even though you only make screws. Plus you’d have to move to a new place to house the new machine because the old one is in a shite place and nobody can get to work, because the previous owner built a Greggs next door.
As such you offer £30k.
The owner of the milling machine days “nah f**k you it’s worth £259,999” and of course that’s ridiculous so you find a new place to move your stadium and hope the rare bats and the nimbys aren’t a problem.
Of course, they are, and one of them (who doesn’t like deodorant and has a second home in Kent and also loves a niche pint) is the leader of the gang and doesn’t understand roads, so it takes forever for you to build your new facility and milling machine.
Or something