I'd guess it's actually going to be pay the council £27m, or we'll take half the stadium, which we can sell back to you straight away for £25m.
Basically pay £27m or pay £25m (or some other slightly smaller sum).
However, so far the court case really doesn't seem to be in their favour. The suggestion that the stadium should be valued at the value it has when Wasps are already tenants, is ludicrous. It's like trying to charge £5 to rent an empty pint glass, because it could be filled with beer in the future.