“We decided that we’re not going risk our reputation further,” Rosso told TorrentFreak. According to Rosso he and his partners never received the payments promised to them and Mr. Pandeya made several other promises he couldn’t keep either.
“The more time we spent with Mr. Pandeya, the less confident we were,” Rosso said, adding that he feels the funding required to close the deal is not going to be raised based on the current lack of workable plans.
Not all was bad though. The support and enthusiasm of at least one record label was something he had never seen before according to Rosso. Unfortunately, it now seems that this enthusiastic response was based entirely on false promises.
“I don’t think there’s going to be any money raised with GGF’s current (lack of) plans,” Rosso told TorrentFreak. Besides Rosso and his partners, the people who were supposed to finance the acquisition were also misinformed.
When confronted with the news, a Pirate Bay insider said they would give GGF a week to get insurance from the investors, otherwise the deal is off. Pirate Bay spokesman Peter Sunde told us that he doesn’t know what will happen to the Pirate Bay in the future, when the deal is off the table. Time will tell.
Source: http://www.tomsguide.com/us/Pirate-B...news-4329.html
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Originally Posted by Hairbautt
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