Can't beleive they gave up 4% of revenue until 2019 to Leucedia (nice earner for them!!), they'll be regretting that in future years IMO. I guess they weren't in a great position to argue when raising cash.
Not sure what their WAG royalties are, say 5% for arguements sake. That means they are likely to be giving up 9% of revenue straight away. Ouch.
citi today........, page-3
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