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When Mr Orbach decided to sell, he said he "very much" wanted the community to continue and it was given first refusal to purchase the site.

But Exxon is contesting the deal, arguing that it should have had right of first refusal to buy Hess’s Guyana stake before the company struck an agreement to sell itself to Chevron.

Denmark’s National Museum had the right of first refusal on part of the collection and purchased seven rare coins from Bruun’s vast hoard before they went to auction.

That year, the museum also entered into a right of first refusal agreement with Kemper Holdings, which gives the group first option to purchase the building should BAM sell it.

This doesn’t mean that Chalamet can only make movies with Warner Bros., just that the studio is entitled to right of first refusal.