Note 5 - Management Contracts Purchased

12 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Management Contracts Purchased [Text Block]

(5) Management Contracts

The costs related to the Company’s purchase of assets related to management contracts are capitalized as incurred and comprise the management contract asset. This asset was $82.6 million as of the end of fiscal year 2025, an increase of $0.3 million from the end of fiscal year 2024. The increase was related to costs associated with the definitive agreement signed with STF Management, LP. The Company considers the management contract asset to be an intangible asset per Accounting Standards Codification 350 — Intangibles – Goodwill and Other. The purchase costs that comprise the management contract asset include consideration to the seller, as well as legal and similar external transaction costs.