11/7 Letter from IPT

I suggest that every IPT player print out this message after confirming its source and keep it in case you do have to go to court on this. I also agree that KT is keeping his eye on this forum and he has been shakin' a bit.;)

Southpaw
- Where did this letter come from? Did KT ask someone to post it or what?
 
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Intriguing...I guess if checks start to roll out then maybe some credibility will return....it sounds like it wasn't the IPT that would sustain the high costs but the online betting on the matches and such as where he planned to pull in the cash...
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The main-question is:

Is it too late for this letter? This letter should have arrived the week after the tournament!

Will the players trust KT and DA even if they get full payment? Will they meet up for new tournaments? Will this letter mean that more players will play qualifiers?
 
a letter is not an act of good faith,

neither is a short-changed pay check.

Its a basic stall tactic.
 
Roy Steffensen said:
The main-question is:

Is it too late for this letter? This letter should have arrived the week after the tournament!

Will the players trust KT and DA even if they get full payment? Will they meet up for new tournaments? Will this letter mean that more players will play qualifiers?
Click to expand...

The magic 8 ball says "Highly unlikely..."
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Roy Steffensen said:
The main-question is:

Is it too late for this letter? This letter should have arrived the week after the tournament!

Will the players trust KT and DA even if they get full payment? Will they meet up for new tournaments? Will this letter mean that more players will play qualifiers?
Click to expand...

Roy, congratulations, you are catching on. You too dan predict the future.
 
Well, by now Trudeau has challenged even his most fervent supporters (me), so believing this letter is not as easy now as it would have been a month ago. However, it does seem to have more sincerity and detail into his thoughts and plans than any other communication I've seen, so that is positive.

I'd love to see everything play out the way he is projecting. I just can't understand why someone with the business savvy he has cannot realize what damage he has done by not paying the few million he owes for the Reno tournament.

He could pay that and then wait until the business model is redesigned, and have a schedule for 07 that is less ambitious and everyone would be understanding of that (or would have been). But he squandered all the good faith away through poor and deceiving communication.

He created a real train wreck that will take a miracle to repair since all the pool players will be exceedingly cautious and distrustful from this point on.

Kevin, I've got my finger over the IPT membership-cancel button, you've bought yourself a few more weeks--but that's it.
 
sensible arguments do not require essays worth of explanation.

KT is not toying with the economy he is dealing with a specific set of customers to inflict maximum profits.

Blaming it on the failed business structure means it was not a good one to begin with.

The investors are losing confidence KT even you know its getting edgy.
Some are even taking action to save their best interest.

The IPT not being one of them. If you cannot deliver you shouldnt promise.

One comparison is even Pres Bush is sticking to his guns about Iraq. But KT as winning as his personality he just keeps finding new excuses.
 
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KT said:
First, I want to clarify the most important issue. You all will be paid 100 percent of the $3million prize fund from the World Tournament. You will be paid 100 percent,
Even with this shortfall, it is still the IPT's intention to
pay all players, in full, 100 percent of the prize money promised. We are
organizing additional funding sources now to get you paid in full as soon as
possible.
What we are committed to do is pay all players a portion of the prize money due each week, starting this week.


The "We are organizing additional funding sources now to get you paid in full as soon as possible" sounds alot like 'we are finalizing funding and have signed the papers with Ho,blah,blah,blah.'
Did I miss the part where KT said HOW MUCH they were to pay every week ? What percentage of a players total due is to be paid each week ?
How MANY weeks is the player going to be paid in ? 52 ? 104 ? 12 ? 3 ?
Apologies if this is all spelled out and I simply overlooked it in the Announcement.
Doug
 
Well, for one thing I don't know much about this IPT situation. It's been a little too complicated for me to follow very closely since I don't have anything invested in it other than wanting to see the players and my favorite sport succeed. Also, I don't know anything about this new law that KT cites as the reason the payments have been delayed. However, having a degree in political science and knowing a fair bit about the the law making process if one pays any attention new laws are never a "surprise". I guess KT thinks that the law making process is as quick as the Schoolhouse Rock cartoon from which he learned about it.
 
wait till he starts offering IPT currency

saying players not fully paid can use it towards playing the next tournament at a discounted price.
 
OK there is a lot of wishing and hoping and vague statements about the past and future, opinions etc
which you can argue and debate and have different opinions about, but when you state a fact that you have spent OVER one Million dollars in food for 3 tournaments, can anyone believe that?

Doesn't that automatically scream that you are probably being less than truthful on the remainder?
 
Smorgass Bored said:
KT said:
First, I want to clarify the most important issue. You all will be paid 100 percent of the $3million prize fund from the World Tournament. You will be paid 100 percent,
Even with this shortfall, it is still the IPT's intention to
pay all players, in full, 100 percent of the prize money promised. We are
organizing additional funding sources now to get you paid in full as soon as
possible.
What we are committed to do is pay all players a portion of the prize money due each week, starting this week.


The "We are organizing additional funding sources now to get you paid in full as soon as possible" sounds alot like 'we are finalizing funding and have signed the papers with Ho,blah,blah,blah.'
Did I miss the part where KT said HOW MUCH they were to pay every week ? What percentage of a players total due is to be paid each week ?
How MANY weeks is the player going to be paid in ? 52 ? 104 ? 12 ? 3 ?
Apologies if this is all spelled out and I simply overlooked it in the Announcement.
Doug
Click to expand...

I don't think you missed anything. If any checks arrive soon, I would be interested to know what the amounts are. I would guess the people owed $5,000 will get a check for $500, and the people owed more will get a check for $1000.

Kelly
 
Nostroke said:
OK there is a lot of wishing and hoping and vague statements about the past and future, opinions etc
which you can argue and debate and have different opinions about, but when you state a fact that you have spent OVER one Million dollars in food for 3 tournaments, can anyone believe that?

Doesn't that automatically scream that you are probably being less than truthful on the remainder?
Click to expand...
I don't think football players could eat that much.Johnnyt
 
Nostroke said:
OK there is a lot of wishing and hoping and vague statements about the past and future, opinions etc
which you can argue and debate and have different opinions about, but when you state a fact that you have spent OVER one Million dollars in food for 3 tournaments, can anyone believe that?

Doesn't that automatically scream that you are probably being less than truthful on the remainder?
Click to expand...

Maybe if there were gallons of Russian caviar at the tournaments...:rolleyes:

Kelly
 
BREATH HORSE, BREATH....... dammit !

shanesinnott said:
Doug,

I figured you would have a new Avatar by now.
Click to expand...


I'm trying to resuscitate the dead horse.... and he's not responding to KT's Announcement.
Doug
( This Announcement was alot to digest in one sitting. I suggest that 'we' pick it apart one paragraph at a time, so that it/we make sense and are able to keep up )
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Kelly_Guy said:
I don't think you missed anything. If any checks arrive soon, I would be interested to know what the amounts are. I would guess the people owed $5,000 will get a check for $500, and the people owed more will get a check for $1000.

Kelly
Click to expand...
The first thing I said after reading it was "notice he didn't say how much/percentage would be paid each week". ;)
 
Kelly_Guy said:
Maybe if there were gallons of Russian caviar at the tournaments...:rolleyes:

Kelly
Click to expand...
Back in the 90's, the University of Colorado took the entire football team and their weightroom to Miami for the Orange Bowl . They were there in the Hilton for almost 3 weeks. The total cost of the trip was $890,000. That was 85 players.
200 Buddys couldn't eat up a million in one week.
 
At $1000 a week Reyes $500,000 would take almost ten years to pay. I think not. Probably something like 20% a week if it is really going to happen. Johnnyt
 
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