Chapter 23: Chapter 23 - The Bet
Jeffrey Hansen felt that he should help negotiate. But before he could speak, Eric said: "I'm sorry, Mr. Cohen, I don't intend to sell Home Alone, we can still talk about a share agreement, right?"
Blount Cohen frowned as he unhappily said: "Eric if we're going to share, I can only give you 18%."
"Mr. Cohen, didn't you just say you'd give us 20%?" Jeffrey countered.
Blount Cohen lightly said: "That was under average circumstances, if we were to release Home Alone, then the cost of the release will be much higher than the cost of production, so 18% is very reasonable."
Jeffrey was about to argue, but Eric stopped him and said: "Well, Mr. Cohen, I have another idea, how about signing a gambling contract?"
Although gambling contracts were widespread in the industry, did this brat think he could gamble against Columbia? Blount Cohen sneered to himself. However, he feigned interest and gestured Eric to continue, he'd like to hear what this kid had in mind.
Eric acted as if he hadn't seen Blount's sneer. He smiled and said: "On the premise that Colombia guarantees the specified amount of propaganda and the number of theaters. If Home Alone makes less than 50 million $ at the box office, I will give up the entire rights to you for free."
Blount Cohen would be lying if he said he wasn't tempted. The company had already estimated that Home Alone would make about 50 million at the box office. If he signed a gambling contract, controlling the box office to not grow over 50 million was easy. Blount Cohen admired Eric's courage but felt the young man was stupid.
Jeffrey Hanson jumped up in disbelief, and exclaimed: "Eric, are you crazy?!"
Eric patted Jeffrey motioning him to sit down and continued: "If the box office is between 50 million to 100 million $, I want a twenty percent share. If the box office is more than 100 million dollars, then for every additional 10 million dollars, I want my share to be increased by 1%."
Eric calmly sat and drank his coffee, watching Blount. Jeffrey Hanson restlessly glared at the two people. He was worried Blount Cohen might agree to Eric's ridiculous agreement. They would lose the 10 million $ buyout fee if that happens and might never see such sum again.
Unfortunately, Blount Cohen was too spineless and hesitated for a full five minutes, before saying: "Eric, I need to discuss this in a meeting, can I give you my answer tomorrow?"
Eric nodded and left after wishing him a good day.
In the parking lot, Jeffrey didn't get in his car and followed Eric to his instead.
"Eric, you're too impulsive. That was 10 million $ you know! Over the years, although comedies generally get a good box office, there are always exceptions. Tomorrow let's just take their buyout offer, we may be able to fight for the price, what do you say? Listen, this is a once in a lifetime opportunity. If you miss it, it may never happen again. With 10 million $, you can continue shooting movies, you can do a lot of things."
Eric was basking in the pit he dug for Columbia Pictures. Home Alone's box office had once entered the Guinness Book of World Records, and he made it the same as in his previous life. He didn't think the distribution ability of the veteran giant, Columbia, at the box office would be any worse than in his previous life. So initially, he didn't know how to fight for his best interests.
The way things should have progressed, his low-budget film could only get 20% of the profits at best. When Blount heard Eric wanted a share in the profits, he lowered the share to 18% as he knew the box office would be higher than mentioned. At that moment, Eric's thoughts flashed as he remembered another agreement method: gambling.
In the film industry, betting on the box office was common, as this was usually a win-win situation and both sides could fight for their best interests while avoiding risks.
In the past, the final North American box office for Home Alone was 280 million $. So, by the gambling contract, Eric would eventually get a 38% share. This was 3% higher than what many powerful producers earned. Going by Blount Cohen's reaction to his proposal, Columbia Pictures was likely to agree.
"Hey, Eric, were you listening to what I said?" Jeffrey Hansen nagged until his mouth dried up, but Eric wasn't listening and only responded after nudging him twice.
"Look, Jeffrey, I know you mean well. I'll let you in on something, I believe that Home Alone is likely to break the 200 million $ mark at the box office. So with the contract, I proposed, how much do you think I can get ?"
Jeffrey looked at Eric as if he was crazy.
Eric didn't mind and laughed: "Jeffrey, have faith in me alright. If I'm right, you as the executive producer will receive a generous dividend that will help redeem your Fireflies studios. Right now I need your help though."
Although Jeffrey dreamed of getting back the company co-founded with his wife, he didn't take Eric's words seriously. Realizing he wouldn't be able to change the guy's mind, he asked: "Well, Eric, what do you need me to do?"
"Help me contact a law and accounting firm. Columbia will surely accept the contract I proposed and I'll need someone to supervise and audit its implementation. I'll also need someone to defend my case if there's any dispute."
Jeffrey said: "That's not a problem, but Eric, do you still have money? Those guys cost a lot you know."
"Of course," Eric opened his glove compartment, removed a copy and said: "I still have the Jurassic Park movie copyrights that are worth at least a million dollars. As collateral, if the gamble fails, then just take the novel to those firms, I don't believe they'll reject it."
"Eric, you're really… insane!"
"The man of genius is he and he alone who finds such joy in his art that he will work at it come hell or high water."
Jeffrey threw his hands up: "Not only are you crazy, but you're also arrogant enough to quote Aristotle."
"Aristotle was busy, I stole this one from Stendhal."
"..."
Jeffrey agreed to help contact the firm as soon as possible. At this time, in one of Columbia Pictures conference rooms, several executives were in a discussion.
"Alright, now everyone's up to date, so let's hear opinions." Blount Cohen described Eric's conditions of the bet and looked at the several executives, waiting for their views.
After hearing Blount Cohen's statement, the executives found it inconceivable. Was that boy just stupidly crazy?
Finally, an executive called Lester Reed took the lead and said: "Mr. Cohen, this is a good opportunity. According to our estimates, the highest potential box-office of the film is also 50 million $. Following the signing of the contract, we can easily control the box office to not go over the 50 million $ mark. Then, we wouldn't even have to spend 10 million dollars to buy him out."
When Lester Reed finished, the others also followed his lead.
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