Colin Colenso said:
I knew about the checks being received via my own poor connections a good 12 hours before news of it arrived on these boards.
Granted the lawyers needed to check the statement that came with the checks, but there has been discussion on the legal ramification of checks being received and cashed here for weeks, yet this is the first time we have been presented with the opinion given today.
Surely it would have been a good idea for players to know the possible ramifications before they had time to cash their checks.
I'm not just saying this to throw a cat amongst the pidgeons. Just pointing out why I think information is slow coming and in short supply.
The recent announcement is also not really advice. It doesn't advise the players which route they would be better off taking.
All information and opinions that are intended to assist is appreciated. But most of us are still in need of more detailed advice.
Colin
My advice is barely worth the screen image you see before you, especially since I have no personal financial stake in the IPT or players. (So take it for what you paid to hear it).
It seems to me and it always has that either the IPT is going to make it or it is not. If the IPT makes it, it will be a miracle with all of the naysayers who may or may not be right. Constant verbal barrages against the IPT certainly can't help them succeed.
The real question is if the IPT fails, what can the negatively impacted get out of it? While there may be some who believe that they can squeeze blood out of a turnip, I'm not one of them, especially if you are as seasoned a turnip as Mr. Trudeau. You can hire lawyers until you are blue in the face and I wouldn't hesitate to do it if I thought it was going to get my owed money. I see a court basically saying that KT tried his best to make good on his promises but he failed and that there was no attempt on his part to defraud anyone at any point in time. The fact that the IPT has and continues to operate of the negative cash flow side further demonstrates that he did not make a profit from the business.
Do you hope the IPT is sold?
If so, to whom?
Would you buy stock in an IPO for the IPT? I would but it wouldn't be for the benefit of a solid investment but more of an empathy investment for the sport as a whole. Personally, I would prefer someone other than KT in control simply because even with a guy like KT who obviously enjoys a challenge, there will always be people, second guessing his intentions and in this sport there is already enough of that to go around. And I also woudn't invest a lot of money in an IPO for the IPT. It probably wouldn't pay off in the long run.
Television advertising dollars is the only thing that will pay the bills to keep pool players earning a decent living and only enough people willing to spend their free time watching pool on TV will attract the advertisers.
I think I will start a thread about how many of us watched the World Pool Championship.
JoeyA