Risk is not worth the investment.
If they don't go they save on expenses and lose out on a chance on a big pay day.
If they go and win but payment is delayed, then they have a cash flow problem. The cash flow problem effects their ability to attend other events.
The problem has been they thought the risk was worth the payoff. But in reality it wasn't.
The time spent waiting for the money is an opportunity loss at another event. I am assuming a player only holds enough cash reserves to budget by event and not yearly.
It is difficult to believe the players haven't identified this problem earlier.
I disagree with your conclusion.
Using your numbers, the players made $787,000 as a group, but surely, each of them had $25,000 in expenses, so their net income is more likely to be $537,000.
Without the US Open, they made $714,000 and, in my estimaiton, about $464,000 after expenses.
As a group, their net income would have been 14% less without the US Open, and, at this level of income, that's a big hit.
Black-Balled solved the ABP-Barry dispute.
Barry needs to find a backer to pay off the prize winner and then Barry can pay the backer on a payment plan.
This solution works. But is there a loanshark that will want to do business with Barry?
(Its called brainstorming, tossing ideas around until one arises that might work, and Black-Balled's idea works.)
(Sponsors)...have finally decided against investing in ...players that, as a whole (with obvious exceptions), have demonstrated an amazing ability (for decades) to strangle whatever golden goose they happen upon, then search the carcass’s pockets for loose change.
UPA = Charlie Williams in 2001 (same month as the infamous 911 incident)
This is what I remember about the UPA;
Barry Berhman had just announced that because of the lack of gate money, the 2001 US Open 9 Ball tournament was going to lose money and that the players were not getting the full amount that had been promised.
Charlie Williams called for a player's meeting and discussed a 'union' or player Org. to prevent this type of promoter crap of promising one thing and delivering another. Escrows were talked about and 'garunteed' money was defined. Promoters were going to have to do it the UPA way or NO WAY.
Lots of Pros agreed and decided to pay up. Charlie decided to start his own tour and was immediately sanctioned by the UPA. Other promoters were trying to promote tournaments, but the UPA kept demanding the promoters abide by the UPA sanctioning requirements or no UPA players will play. Does Strong Arm sound familiar?
Charlie got out of the UPA and formed Dragon Promotions. The UPA had a board runing the show. Then Rodney Morris ran the UPA and now it is in Arizona as a League system run by Frankie Alverez.
Unsportsmanlike behavior stands out like a sore thumb. Only a very few players fall under this category.
Risk is not worth the investment.
If they don't go they save on expenses and lose out on a chance on a big pay day.
If they go and win but payment is delayed, then they have a cash flow problem. The cash flow problem effects their ability to attend other events.
The problem has been they thought the risk was worth the payoff. But in reality it wasn't.
The time spent waiting for the money is an opportunity loss at another event. I am assuming a player only holds enough cash reserves to budget by event and not yearly.
It is difficult to believe the players haven't identified this problem earlier.