It is clear that CS is the one in control now, even he is not...

It is clear that CS is the one in control now, even he is not the CEO. Otherwise there is no chance such transaction would happen.

I don't think King dared to have such transaction with entities associated with him so closely.

Again I suggest you go and find what option means, this is very important: if you give away the upside and keep the downside, you lose value.