As for the Lamelo bid, what last season clearly proved is that all the publicity in the world is worthless if your club is is a basketcase.
Obviously the league needed a proposal that would give them the best chance of succeeding.
And I don't understand what is all this shit about LK?
He's an entrepreneur, and a developer, its what he does. He builds things, and then he sells them.
There was one solid proposal for Brissy, the one backed by Bendat (Dr Jack's son). But it wasn't quite on the scale LK wanted, and in the end it fell away anyway because the poor guy was dying from cancer. So LK built the team, and then sold it.
And yeah, he offered "vendor terms." IIRC the new owner(s) initially took around 35%, then were due to take another ~35%, with an option of the remaining bit. It's smart business, nothing wrong with that.
I imagine he plans to do something similar with Tassie, eventually, and if he offered the same for the Hawks, then good on him.
As for his supposed investment in Adelaide...
I don't know who owns all the shares (nor do I particularly care.) If some subsidiary of LK's owns a chunk of shares, then what of it?
It's not as if he's given Adelaide any advantage.
And obviously he is in no way involved in the management, otherwise it wouldn't be the clusterfuck it is.
From day one, I have questioned whether the increased spending was sustainable, and I still question that.
But so far, LK has demonstrated that he's in this for the long-haul, and for the most part is doing a good job at attracting high-value investment into the league.