Wait a minute...they could pay Stallone $12 million
for "Over The Top" but somehow can't come up with $5 million to pay back the bank?!?
shareA Stallone movie would have been very appealing to Cannon's usual circle of investors. These people are normally successful nobodies drawn to the 'glamour' of the moovee business, Milwaukee dry cleaning millionaires so on. If a Charles Bronson movie makes sense to a dozen of them then a Stallone movie would make sense to hundreds.
Financing a company in tailspin might be less enticing. And we don't know the circumstances anyway, what collateral was on offer, what were the timings? They may have had various options for the $5m but were trying to strike the most favourable deal possible. It's hard to believe Golan and Globus weren't juggling several balls.