Do you genuinely think you can get a cash advance without a premium? What’s the incentive for whomever is advancing the cash, hence hedge fund indeed profits - where did I imply they weren’t?
A loan is paid back, that doesn’t happen here at all
The projections are estimated to be €19M annually they give up in order to get the advance, the premium. It’s not a loss financially, it’s reduction in the maximum profits they can return
Moreover, they can buyback the rights at anytime- say via a lower interest loan than the premium once they continue to improve their finances. Laporta has been in office 17 months, huge progress in that time