".... JB must ensure that any prospective partner have the resources to commit to spending 60 million . . ."

Strongly disagree! If a 1st rounder has stomach, but no staying power, JB has the info to anticipate that Phase one results will be adequate to bring the Game out of the woods for subsequent development. If he doesn't have that info or reasonably reliable expectation, then he would have to be bluffing, holding out for a Sucker's offer.

The issue now, I would theorize, is how to best Shop to the Market and how to quantify for evaluation a number of possibilities that have been, are being, or may be, presented when variables are numerous, varied among prospects, and so forth . . . there are considerations at play that we can't even imagine. IOW - any agreements(s) must address a host of factors . . . as well as future circumstance realities that can only be guessed at.

I think part of the problem is retaining control, influence and future "Benefits" in favor of getting "locked up and locked out" for A Song.

Time will tell!