Talk about shortsightedness and naive. You are exhibit A, and along with the others who accept this nonsense, are the reason so many players get screwed out of promised prize money when it comes time to get their prize check.
If you as a promoter are depending on money to come in after an event has already started, money which you have no control over, then how on earth can you possibly guarantee that money before the event has started? You don't have any control over whether that money comes in or not and therefore can't guarantee it. You just can't guarantee what you can't control. You can say the words or make the claim but it is a lie. There was no real guarantee at all because you had no control. The only money you can actually guarantee is money you have in your pocket, and if you have it in your pocket, then you can escrow it.
Promoters doing it your way is the sole reason that "guaranteed" money doesn't end up being paid out to the players as was promised and "guaranteed'. There are a million excuses and reasons the promoters use.
-I didn't get enough gate sales because of the hurricane and I was depending on the gate sales for the "guaranteed" added money.
-I didn't sell enough food and alcohol and merchandise etc and that is what I was depending on for the "guaranteed" added money.
-My sponsor didn't come through with the money they promised to pay after the event (for whatever 50 million reasons it could be) and that is what I was depending on as the "guaranteed" added money so now we can't pay out the full prize fund that was "guaranteed".
-Etc
-Etc
See the pattern here? If you are depending on money that you are hoping comes in after an event starts (and that is all it is, hope), money that you really have no control over, then that is simply not money that you can guarantee. Again, how on earth can you possibly guarantee something you don't have and have no real control over whether you will get it? You don't know how much your gate sales are going to be. You have no control over how many people actually end up showing up to your event. You have no control over what the weather conditions or other circumstances or events will be that might keep people away. Since you have no control over how many people show up, you certainly have no control over how much food and alcohol and merchandise you will sell. Even if you get the expected amount of people you still have no control over how much they will actually end up purchasing. You have no control over whether your sponsor ends up paying you after the fact like they promised. People flake out on those types of things all the time. Maybe the sponsor didn't feel like they got what they expected from the event so now they aren't going to pay. Happens all the time.
The only way a promoter can guarantee any funds is if they have them in pocket prior to the start of an event. Now if a promoter wants to advertise "$6,000 added guaranteed if food and beverage and merchandise sales goals are met" or "$20,000 added if we meet our goal of 500 paying spectators" or something along those lines then there is absolutely no problem with that at all because they are actually being honest about things for a change. But if you guarantee money with no disclaimer, you better have that money, up front, before the event starts, and not just be hoping it comes in by depending on something else having to happen or someone else having to come through with it after the event has already started.
People like you that accept those kind of lies of meaningless "guarantees" (which are anything but guaranteed) are suckers of the highest order. It is high time that promoters start being honest and only guaranteeing what they can actually guarantee, which is the money they have been able to put together prior to the start of the event. Anything else is money you are just hoping for and is not in the least bit guaranteed in any way whatsoever and to call it "guaranteed" is nothing short of a complete lie and scam.
For the record it think it is perfectly fine for promoters with a long and established history of paying what they promised when it was promised not to have to do escrow. They have earned their trust. Guys like Mark Griffin and Jay Helfert and others have a long and proven track record. And truth be told, they probably only have been able to keep that long and proven track record because they only guaranteed what they knew they could cover from their own pocket if things went sideways, and I am sure things did go sideways one or more times and they covered it. That is the risk the promoter takes. But the players didn't get screwed and those promoters kept their word. Their guarantee meant something. In other words, they have integrity. But for those without an extensive track record, or who have a poor track record, like Barry Behrman, the players should insist on ALL guaranteed money being in escrow up front before the event starts.
. Nothing personal I can assure all of you. Its been a crazy month with my kids graduations, it seems I am always on a jet going somewhere. And you are correct there is almost no one here that I cant deal with. As far as I am concerned this forum is still and always will be my main haunt.
