Exactly one year ago it started out as a promising new deal, but GOB's relationship with Jeffrey Prosser has gotten very old very fast, and tonight there are indications that government, saddled with US$57 million of Prosser's debt, is seriously entertaining other offers to take over the controlling interests in BTL.
7NEWS has received unofficial reports indicating that there are at least two new prospective owners of BTL, both Belizean and familiar names that might be part of what's called the Musa administration's friends and family network. One plan could see the company going to a local group led by investor Eugene Zabaneh who had expressed an interest in it before it was transferred to Prosser. In both configurations, those investors would be expected to come up with the financing to pay off government's US$50 million loan at the International Bank of Miami which, as we understand it come due on January 22nd. Still, our sources stress that any deal which may be worked out is still in the formative stages, and right now all official bets remain on Prosser. If he doesn't come through, and another investor takes over the Carlisle shares, the sharp downside in all this is that Prosser would get stuck with the Social Security shares, a 26% minority holding that he paid close to US30 million for.