This mob have just received a less than comforting write up in the Business Review weekly.
They have burnt enormous amounts of capital, $70 million in an IT venture to marry watching sport with accessing statistics from athletes and establishing partnerships.
My IT expertise is tied to my Commodore 64 , so read the article yourself.
They plan to make, EBITDA at $318 million in 2013-14 and $1.26 billion a year later.
A discouraging aspect is the composition of initial investors.
The Chairman is Nick Greiner, a brilliant picker.
The investors include a QC, a few cricketers, a heart surgeon, a tennis executive, a Hong Kong Ho and numerous other sophisticates. This demographic alone would be sufficient for me to punt the gumnut chook run on the venture.
Expert investors with a long track record such as Bob Mansfield, Steve Waugh and Adam Gilchrist grace the shareholder register.
To my surprise they are looking for sophisticated investors to tip some more moolah in, before the Croesus moment occurs in Q4 2013.
They only need $10-15 million to make it a winner.
It is a steal.
But only for sophisticated investors.
Those with chooks need not apply.