bnb shares of bbi, page-2

The management fees last year were about $180M I recall.
This year it will be next to nothing as there have been no acquisitions (thank goodness)and the day to day management of BBI's assets is done in-house with BBI staff. There will be a HUGE saving this FY of management fees and I would be reluctant to be buying out the management agreement if I were the BBI Board. If the management fees are nil, what's the agreement worth in dollars? Not much.