What this all boils down to is the question of exactly how reliant are the Nix on Terry?The (lazily) accepted "truth" seems to be that the Nix lose about $1m a year, but that information comes from Terry himself who, in the past at least, has had a vested interest in pumping that number up. After all, the bigger it is the more of a hero he looks.But are we really, consistently, losing $1m a year? Considering the amount of derision that is poured by some on other statements Terry has made about his finances I'm surprised more questioning hasn't been done of the one figure in all of this that actually matters to the future of the Nix.One thing is for sure, right now Terry can hardly be accused of just splashing the money around and trying to buy the championship. In fact, I wouldn't be surprised to find out that the Nix currently operate on the smallest budget in the A-League.Is it possible that Terry's creditors aren't that interested in the Nix, and that Terry himself is happy to keep the Nix going, because it isn't costing him quite as much as we have been led to believe?Someone should call a meeting with Terry and demand to see the books 
I believe that it is generally accepted around the league that most A-league clubs lose around $1-1.5m per season (or at least have been so far), so I guess it makes sense that the Phoenix is in a similar boat. Whether that's actually true or not none of us on here can actually know, but in the absence of any evidence suggesting otherwise, it's a reasonable assumption to make.
My feeling is that Terry has a much stronger and deeper connection to the Phoenix than he does to his other ventures - in other words, think he sees the Phoenix as more than a business entity there to make a profit for him. And that's fair enough, the Phoenix has been a tremendous success story so far for football both in Wellington, and even more importantly, in New Zealand, and none of this would have happened without Terry, and he's well aware of that.