Correct, but it’s likely that the stadium authority received compensation in advance rather than in arrears. E.g., on day 1 it received $10MM which it “earned” through the year by keeping the name on, then gets another $10MM on day 366 which it was to earn from days 366 to 730...
So like some grantees, it has likely received payment that had not been earned at the time of the insolvency.
Correct, but it’s likely that the stadium authority received compensation in advance rather than in arrears. E.g., on day 1 it received $10MM which it “earned” through the year by keeping the name on, then gets another $10MM on day 366 which it was to earn from days 366 to 730...
So like some grantees, it has likely received payment that had not been earned at the time of the insolvency.