IPT Rumors Confirmed: London Cancelled - IPT Sold

Interesting info about Mr. Ho, one of the richest men in Asia.

http://en.wikipedia.org/wiki/Stanley_Ho

Two observations:

1.This is good news for pool.
If someone was willing to spend 150 million to buy it,he will certainly try to make it work and he has the money to do so.I like it because he is Asian and the people in Taiwan are absolutley hard core when it comes to pool.Let's face it the game might be slow to sell here and in Britian TV wise, however, in Taiwan that won't be a problem.

2. Like him or hate him, Kevin Trudeau is a brilliant bussiness man.

RJ

TX Poolnut said:

Interesting info about Mr. Ho, one of the richest men in Asia.

http://en.wikipedia.org/wiki/Stanley_Ho

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WOW! This guy is filthy rich and owns gambling establishments.A lot of Asians are going to be betting on pool.
RJ

I think this is bad news for americans. Will probably be fewer tournaments over here in the future.

mnShooter said:

I think this is bad news for americans. Will probably be fewer tournaments over here in the future.

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I think Vegas and Reno will be mortal lock reguliar stops.I also hope they do a tourney for those on the east Coast.
As far as TV goes nothing will change as the USA TV scene for pool has been generally poor anyways.In Canada they show more pool,however,none of it is live.

I think buying an IPT membership($29 anually and 6 per month) to watch the matches live online is the way to go for the hardcore North American pool fan.It's a good way to support the IPT and stay connected.
RJ

wow

oneballeddie said:

Two surprise announcements at Reno Players meeting:

1. London Event cancelled. Reason is inability to secure the venue and/or suitable alternative location. There will be only one more event this year at Chicago. IPT tour card holders are still guaranteed a minimum of $13,000 for the three events.

2. IPT sold to Asian billionnaire Stanley Ho and Ho Interactive for approximately $150M. Kevin Trudeau has signed to continue as IPT Tour Commissioner for 5 more years.



Other items of interest:

3. Venue is the most beautiful pool center I have ever seen. Huge room with 50 perfect diamond tables with diamond overhead lighting. TV table and Grandstand area is stunning with multicolored lighting, etc.

4. IPT website will begin broadcasting EVERY match at this tournament LIVE beginning this Thursday. You have to purchase an IPT Membership ($29 annual membership plus $6 a month). This could be really good, I certainly will buy one for Chicago and Vegas tournaments.

FYI,

Oneballeddie

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Hi !!
Where did you read or hear about the IPT being sold?
wow what a surprize.

Yes, some exciting news. Also, when OLN turns into Versus, it is owned by Comcast and they are throwing their considerable muscle into promoting pool and the NAO will be on in primetime, I believe Sat. or Sun. nights.

The KOH was the #1 show when it ran and OLN was very happy with the results. OLN and Eurosport are paying the IPT for the rights and not the other way around.

Because of this TV success, the IPT has over 100 proposals for sponsorship. They took up Vonage and Dish network for this one and of course the infusion of $150M by Mr. Ho is great news. Does that mean we are all Ho's now?

I taped the player's meeting and can't remember it all. The video feed is going to be high quality professional video, not fuzzy, tiny static-y. So if you pay now, you will be able to catch the streaming video live on Thursday.

JAM, I wish you were here. The venue is even classier than the Venetian, and everyone gets their cornermen this time...altho I don't have one...yet!

rackmsuckr said:

of course the infusion of $150M by Mr. Ho is great news.

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Hi Linda, thanks for the update on the meeting.

You may not know the answer to this but just for clarification: Is it an infusion of $150 million into the IPT or did KT sell the IPT for $150 million? These are two very different things. The latter would be an infusion into KT's wallet, lol.

If I was 85 years old, living in China & had 8.5 billion the last thing on my mind would be to spend a lousy 150 million to buy a pool tour. This guy Ho must smoke some good opium.

How will players be guaranteed $13k with the London event cancelled?

What are the players reactions to this?

Not only is an infusion of US$ 150 Million a totally different concept from a sale of the organisation for US$ 150 Million but a "letter of intent" to purchase/sell an organisation is quite different from an actual sale/purchase and a flotation of IPT on The London Stock Exchange is quite another matter again,bringing all sorts of other factors into play.

The London Excel was advertised by IPT as the venue for Event 3 for many months and as recently as 3 weeks ago The London Excel answered various enquiries as regards why the IPT event was not listed on their event schedule for October with the answer that a provisional "booking" of their facility by IPT had been made a long time earlier but that a "contract" for rental of the venue had not yet been signed.According to The London Excel event schedule there are no other substantial events booked to take place there on the dates that IPT Event 3 would have taken place so whatever the reason that Excel/IPT did not reach the stage of signing a venue rental contract it does not appear to be due to the venue itself not being available to be rented.

This reported sale of IPT might add up to overall very good news for the future of IPT and to even greater benefits to a number of the existing players but it might also put some perspective into the potential banana skins surounding ambiguous personal guarantees that have been trumpeted so far.It might also lead to speculation of whether any future Ownership of IPT by Far East interests would affect in any way the existing intended structure of the IPT Tour after 2006 (number of players/tournaments and location of venues 2007 onwards).

Well this is a real blow for UK pool fans. It was to be expected after the initial rumour I suppose and especially since I received no email replies from the IPT whatsoever when I sent messages to Deno Andrews and someone else asking about the rumour .
I wonder why the UK event was picked as the one to go? Profit, politics, players not wanting to travel in the "current climate"? Certainly as people have said already you would imagine that there would be plenty of IPT events in Asia from now on so all the players will be clocking up the air miles!

Well there goes my plan for October anyway!

Chris (Chrstc).

recoveryjones said:

WOW! This guy is filthy rich and owns gambling establishments.A lot of Asians are going to be betting on pool.
RJ

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That's true but they already do. Mr Ho doesn't have to own The IPT Tour to offer his clientele the facility of betting on it.Stan James doesn't own it or contribute one brass nickel towards it

I would also like to know whether the tour has been sold or ether $150million has been invested by Mr HO. As someone said earlier they two totally different things.

The only good factor in my opinion is that the tour will continue to run. Being a Brit I am also disappointed about the London event and would like to see a press release with clear answers.

Anyway come on the Brits in Reno!

oneballeddie said:

2. IPT sold to Asian billionnaire Stanley Ho and Ho Interactive for approximately $150M. Kevin Trudeau has signed to continue as IPT Tour Commissioner for 5 more years.

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Looks like two very rich men are going to fail at the pool business, eh BlackJack? lol

rackmsuckr said:

...I taped the player's meeting and can't remember it all. The video feed is going to be high quality professional video, not fuzzy, tiny static-y. So if you pay now, you will be able to catch the streaming video live on Thursday.

JAM, I wish you were here. The venue is even classier than the Venetian, and everyone gets their cornermen this time...altho I don't have one...yet!

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If I had known the wives and significant others were allowed at the players meeting, I might have come to Reno, Linda. I thought long and hard about coming. I was disappointed that the wives and significant others were not allowed in the players meeting in Vegas and did feel that it might be better off for me to stay home this time. However, while Keith is trying to advance and earn some dough in Reno, I am and will be busy as a bee here in D.C., banging out mega pages. September may be a lucrative month for Team McCready, but I miss him terribly, believe me, and wish I could be there.

I knew the venue would be first class in Reno. I can't wait to see the pictures. I also like the fact that this time, there are overhead lamps. I think the players enjoy overhead lighting too.

Good luck to you and yours, Linda. I'll be pulling for you both, as long as you don't face my horse on the other end of the table!

JAM

Unless the payout system changes....

No London tournament is a good thing for qualifiers since the tour-card holders now have less earning power. It is a bad thing for the tour-card holders. Instead of $16,000 it is now $13,000 minimum. What is even MORE significant isn't the decrease money, but it is one less tournament where tour-card players will be able to have a chance at advancing deeper, thus, less chance and opportunity to hit good money levels.


IPT member only tournaments will be significantly easier than the World Open. Just look at all the world-beaters who have qualified for this! 1st round groups for IPT only tournament will be much easier increasing the number of weaker players who will advance.

Now, it is also bad from another perspective. A lot of IPT players, many of whom have been greats in the past or have given a whole lifetime to the game will have one less luxurious experience in the show. Some realize this will be their only and last season in the IPT...a couple will whine that an opportunity was lost to stay on the tour when they otherwise had zero chance. Win or lose, it is just nice being there. It is really a great, great experience. I can't express how cool it was as a fan, it must be fantastic for the players.


It is truly brutal for a lot of players. There is IMMENSE jealousy of those on the outside of those on the inside. Hundreds of players are banging their heads against the wall that they're not in this tournament. It will be even worse for many who won't be on the tour! Those who have tasted the sweetness of the IPT will have it the worst. The IPT treats the players with respect and like professionals. The events are gorgeous. Massages, food, staff treats them great etc...compared to playing garbage regional tours held in disgusting pool rooms, no players relaxation rooms, with zero good treatment, with no staff, with no respect or recognition, poor organization...to battle it out for 2 days, hours each day...only to MAYBE win 1st place and a lousy $2,000. Come in 18th and expect $150. Ouch!


That's the difference between making the tour or not making the tour for some players. It will be depressing for some to lose the card, a life changer for those who win one.

watchez said:

If I was 85 years old, living in China & had 8.5 billion the last thing on my mind would be to spend a lousy 150 million to buy a pool tour. This guy Ho must smoke some good opium.

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If you were living in China and had 8.5 billion dollars, you would be one piss poor example of a human being!!!! Way to many starving impoverished people over there!!!!
Purdman
Ho ain't the word for it Linda!!!

Now the women of the WPBA have nothing to worry about.

Today's paper listed 16 more terrorists arrested in England. Might not be a safe place to be anyway.

That makes the Reno tournament that much more important for the players. Now maybe $20,000 in winnings will get them their tour card for 2007. All it will take is one good tournament - either Reno or Chicago.

Jake