Sardar stated in one of his open letters that I read that he has invested in CBRL for the long haul and plans to stay invested. If he does not get 2 seats on the board, he still can enjoy the capital gains on the CBRL stock that has been accumulated.
If you believe what he states in his open letters to shareholders, then you're not doing your homework. Biglari doesn't invest to enjoy capital gains, he invests to suck cash out of a company to fund further risky ventures. His eventual plan with CB after gaining control of the board is to simply liquidate the owned property and use the cash to fund BH's corporate raiding. Look at his track record. If he doesn't get his seats, he will move on to the next takeover on the schedule, but he needs some of the CB cash to do it. He'll be dumping CB as fast as he can without making waves. He won't settle for zero seats on the Board. Just wait and see.
If he doesn't get the vote on Thursday (which I don't think he will), expect a noticeable drop in BH stock price. This situation is very different than the Steak n Shake situation when he was voted onto the board. Steak and Shake stock was dropping like a rock, with no end in sight. Sardar was considered a knight in shining armor to SnS shareholders. This certainly is not the case with CB currently. His buying the stock may have backfired on him, he probably wanted to see the stock drop quite a bit over the last year, but it hasn't. His leadership is neither wanted nor needed at CB.