11/7 Letter from IPT

[justnum]

if he tells the truth it wont go down as a hustle.

It'll just be an average business making average money.

 

[MVPCues]

Chief Ten Bears says about KT:

"He is great among those who speak with the double-tongue. No signed paper can carry the iron of life and death, it must come from men. There is no iron in his word for the Commanche to see."

 

[ironman]

This Announcement sure knocked the wind out of Tuesday night election returns...
Doug
( not that there's anything wrong with that )

I can't come over tomorrow after all.

I'm going down to the San Antonio Zoo. They have this adopt-a-monkey program going on.

I'll just plug Az into the big screen and we can all sit around and have a ball.

I got a parrot last week that I'm goin to shoot tomorrow. All the dam bird can say is'"damitt deno, damitt deno, damitt deno".
It's starting to make me a little nervous.

 

[Colin Colenso]

Keep in mind that most of the players only had use of the green room for one or two days. And much of that time they were busy playing.

Once eliminated the green room couldn't be used by a player.

I'd have prefered an extra $50 to spend on food as I pleased.

If it really did cost anywhere near 1 million for 3 events worth of food, it was a waste of money imho.

 

[friendofpool]

For anyone that remotely thinks he will live up to this new payment plan

If there really is going to be a tournament in 2007, then he can't take too long to pay the players.. He said that all players would be paid in full "before the next tournament." Oh, I'm sorry, there aren't any more tournaments....that means he has forever to pay.

 

[ginky]

... ?

Dear IPT Players:

In my last e-mail I told you to pop the champagne. This may have been a
little premature; for that I sincerely apologize. First, I want to clarify
the most important issue. You all will be paid 100 percent of the $3
million prize fund from the World Tournament. You will be paid 100 percent,
in full.

As you are aware, President Bush has signed a new law making online gaming
in America illegal. Online gaming was an integral part of the IPT business
model. Over one year ago I met with representatives at HoCasino.com and
structured a strategy that would combine online gaming with our pool website
and televised pool matches. This business "trade secret" was the magic
ingredient that produced a viable, profitable business model and revenue
stream that would make the IPT a profitable ongoing business enterprise.
The unforeseen, surprise, and sudden outlawing of online gaming in America
dramatically and instantly reduced the IPT's 2006 sponsorship revenue and
additional funding sources by over 80 percent. This totally unforeseen and
unfortunate development has caused a temporary shortfall in IPT revenues.
This has forced us to delay your prize money from the last tournament. Even
with the funding that we have received in the last week, a major shortfall
still exists. 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. For the future, we have commitments, based on the IPO of Ho
Interactive, of $25 million from institutional investors after the first of
the year.

The funding and sponsorship money that was promised to us was reduced to
only 20 percent of what was originally committed. Other sponsors and
funding sources are being organized now.

Again, I want to make perfectly clear that all players will be paid 100
percent, in full. At this time, due to these funding shortfalls, the IPT
cannot immediately pay all of the prize money. What we are committed to do
is pay all players a portion of the prize money due each week, starting this
week, until you are paid in full. I appreciate your displeasure with not
receiving 100 percent of the money immediately. However, please know that
no one is more disappointed than me.

This situation was created by the congressional legislation outlawing online
gaming. It was completely unforeseen, unavoidable, and came as a complete
surprise to everyone. Partypoker and other publicly traded online gaming
companies lost 70% of their value in one day because of this surprise law.
Investors, including myself, lost over $15 billion in combined valuation
following the signing of this new legislation. Nobody in the online gaming
community or international investor community saw this coming. Because of
it, our investors, sponsors, and funding sources temporarily put the IPT on
hold. We are handling this situation and are doing everything we can to
correct it. Based on this new U.S. law, the IPT's business model is
currently being revised to deal with this substantial change.

Many of you may wonder why I do not personally put the money in the IPT to
pay the players. I have already personally invested over $10 million to
date into the IPT. The IPT must operate as a profitable, independent
corporation to achieve long-term success. Remember, I have the most to lose
if the IPT is not successful. In business, unforeseen circumstances can
dramatically change the viability of an enterprise. Hotel owners in New
Orleans had to dramatically alter their businesses when hurricane Katrina
wiped out their hotels. People who were promised rooms did not receive
them. The hotel owner lost money. Everyone was adversely affected by the
unforeseen hurricane. When an airline is not profitable, it closes down.
Passengers who paid for tickets lost all their money due to the business
failure. The stockholders and owners of the airline lost the most. When
companies fail to achieve profitability they file bankruptcy. All of the
creditors do not get paid. Customers lose, vendors lose, employees lose,
and stockholders lose. These things happen in business all the time.
Business owners do not personally fund companies whose business models are
adversely affected by changing market conditions, new legislation, or
natural disasters. Donald Trump bankrupts companies instead of personally
putting cash into those enterprises. The wealthiest people in the world do
not continually fund businesses out of their personal assets. They have a
lot more money than I do, yet they still don't personally fund business
ventures. To date, I have personally invested more money into the IPT than
any successful business person would ever consider. I took the risk and
invested the money when nobody else in or out of the industry even
considered putting up a dollar. I did it because of my sincere love of the
game, my personal friendships with several players, and my total belief that
a professional pool tour can be an enormous success.

Due to the new U.S. law, the IPT's business model and operating structure
will change. I have $10 million invested in this business and I have every
intention and desire to deal with this situation and make the IPT a
long-term viable business and tour. I have the most to lose. You, as
players, should have a strong desire for the IPT to succeed. If the IPT
continues and succeeds, all of you will financially benefit. If the IPT no
longer exists, we all lose. As players, you should consider being
understanding and supportive of this tour. It is in your personal best
interest to do whatever you can so that the tour deals with this business
model change and continues year after year.

I want to answer directly several questions. Will there be another
tournament? The answer is absolutely yes! Most importantly, every player
will have been paid 100 percent, in full, before the next tournament. Will
there be a 2007 season? The answer is absolutely yes. We are working with
venues and dates now. We hope to announce the tournaments for 2007 very
shortly. Is the Ho Interactive merger completed? No. We are still
finalizing documents for the Ho Interactive acquisition. The delay has been
caused by a dramatic restating of our pro forma and business plan based on
the new U.S. legislation. It still appears to be a deal that will happen.
However, our backup plan is to do an independent IPO of the IPT regardless
of whether HoCasino.com is involved.

Our television coverage on VS in primetime is expanding. Our European Euro
Sport TV coverage is also expanding. We will be announcing further
television broadcasting deals for IPT tournaments. Our broadcasting
partners are excited and committed to the IPT for the 2007 season and
beyond. The IPT continues to achieve more television broadcasting than any
billiard tour in history. We continue to generate never before seen ratings
for billiards. With massive TV coverage world-wide, and strong ratings, we
are attracting major sponsors for the 2007 tour and beyond. Fortune 500
companies look at TV distribution and ratings. We have achieved
unprecedented success in both of these areas. Major sponsors budget a year
in advance for sponsorship initiatives. I will have great pleasure
silencing critics when we announce unprecedented major corporate sponsorship
for the 2007 season.

Please remember that when I launched the IPT we were met with massive
negativity and skepticism. I was criticized for every decision I made by
players, so-called fans, billiard organizations, and competitors. The IPT
plan was the most ambitious and risky business endeavor in billiards
history. I have my own personal money at risk. I have been attacked
personally and repeatedly even though we have, in fact, achieved great
things. Remember, we have paid out over $3 1/2 million in prize money
directly to the players. We have put on world-class tournaments sparing no
expense, providing the best accommodations for spectators and players. We
have paid over $1 million providing free food to players. For the first
time in billiards history we have secured primetime television coverage in
America with a major broadcast partner. For the first time in history, pool
is being broadcast live in primetime in Europe. For the first time ever,
pool is achieving spectacular ratings on television. Major sponsors are
coming onboard.

Yes, not having the players paid from the last tournament is more than
disappointing. Yes, having to cancel a planned tournament is disappointing.
Yes, having to reschedule several tournaments is disappointing. I admit
that our 2006 tournament schedule was overly optimistic and overly
ambitious. If I were to do it all over again, I would have had only one
tournament this year and built the business slower. Creating such high
expectations based on the commitments I received from funding sources and
sponsors was a mistake.

Overall I believe that the positives dramatically outweigh the negatives.
Mistakes were made. I am sure more mistakes will be made. I believe we all
should focus on the positives and the achievements we have made so far, and
focus on the future as we deal with this challenging temporary situation
caused by the new U.S. legislation.

I wish I could call each and every player personally, but time commitments
make this impossible. I would like to personally thank the overwhelming
majority of players who have e-mailed me and left messages offering their
support, understanding, and patience. To the players who have been vocally
negative, I would like to say I appreciate and understand your frustration
and disappointment. I would ask for your understanding and patience. At
this point it would be easy for me to shut down the IPT and have it become
another failed sports business venture like the USFL, XFL, or the dozens of
other attempted sports leagues that have failed. This would be the easy
thing to do. However, my whole life I have received great pleasure in
silencing critics and proving people wrong. To all the nay-sayers I would
simply say, "You will eat your words."

Remember, all players will be receiving checks this week and each week
thereafter until paid in full. There will be a robust 2007 season and
beyond. If you want to play in these tournaments I encourage you to do so.
If you choose not to play in IPT events, that will be your choice. I am
taking the IPT to the very top and whoever wants to come along with me is
welcome!

Remember, the dogs may bark but the caravan moves on!

Very truly yours,

Kevin Trudeau, Founder
International Pool Tour

To Be honest. I dont actually believe it, but only time will tell right?

 

[ribdoner]

Keep in mind that most of the players only had use of the green room for one or two days. And much of that time they were busy playing.

Once eliminated the green room couldn't be used by a player.

I'd have prefered an extra $50 to spend on food as I pleased.

If it really did cost anywhere near 1 million for 3 events worth of food, it was a waste of money imho.

1mm------->90% kickback for "retirement" fund?

Staff of 26?

"BOOKS" reasonable facsimile of ESOPS FABLES?

TIME WILL TELL

 

[cueball1950]

To Be honest. I dont actually believe it, but only time will tell right?

Your right there ginky...glad to see you posting. Hope to see you play soon. my best to you and your family...............mike

 

[cueball1950]

Wow.....I wonder what changed his mind about paying only 33% to 100%?
That's a big change......maybe he does read AZB posts.......

Wahcheck.....the reason could be as simple as from reading the forums he has the idea that the players are banding together for some legal action and by saying that he is going to pay 100% instead of the 1/3rd offer he can get some players to forstall the legal action....Just my own humble opinion on this matter.....but makes sense to me........................mike

 

[huckster]

Wake up!!!!!

Everyone,
I do not post very much, and I have friends who are I.P.T members, and attempted qualifiers. I have been an unbeliever from the start, but I really wish I was wrong. As soon as everyone started talking about lawsuits suddenly Kevin releases this letter that the "I.P.T" is paying 100% of the Reno prize money. Those who are I.P.T members, and those participating in tour card and tournament qualifiers should consult an attorney no if's ands or but's. It is not hard to find an attorney who will give a free first consultation. Kevin has lied about so many things we have lost count. make no mistake about it his intention may have been different in the beginning, but now he is commiting fraud. If anyone believes this garbage cashes a check for partial payment, you will be at his mercy. He is a crook who is committing fraud period. By running qualifiers this is an ongoing crime. Get an attorney this is what they are trained to do. Also contact the State and Federal Attorney's offices to pursue criminal charges (civil judgments will be easier to prove). At this point anyone who is taken in with his announcements needs friends or relatives to step in and help them stop believing in his mirade of lies It's over and he is looking for ways to come out of this as intact as possible. He does not by the way have 2 billion, 450 million or 150 million for that matter. He gave up personal property and a car to avoid jail time last go around.
Here is what we know as facts

1. He used credible pool industry people, a lot of cash and a PT Barnum like event to awaken something that the pool world has never had (mainstream success and high financial oppurtunities).

2. He promised the most driven/hopeful pool players, and Hall of Fame players an oppurtunity to become part of something special. He did not seek out the local champions or the road players because they have been burned before and are hardened to shady promoters

3. He demanded every IPT member go to Orlando to support the "tour" and tried to create almost a cult like group with visions of granduer.

4. He lied about payouts, expenses, membership applications, Sponsorships, selling the tour (twice), and blamed everything on George Bush

Please just get a lawyer quit advertising your game plan online and fry the bastard. It's the American way

 

[jay helfert]

Dear IPT Players:

In my last e-mail I told you to pop the champagne. This may have been a
little premature; for that I sincerely apologize. First, I want to clarify
the most important issue. You all will be paid 100 percent of the $3
million prize fund from the World Tournament. You will be paid 100 percent,
in full.

As you are aware, President Bush has signed a new law making online gaming
in America illegal. Online gaming was an integral part of the IPT business
model. Over one year ago I met with representatives at HoCasino.com and
structured a strategy that would combine online gaming with our pool website
and televised pool matches. This business "trade secret" was the magic
ingredient that produced a viable, profitable business model and revenue
stream that would make the IPT a profitable ongoing business enterprise.
The unforeseen, surprise, and sudden outlawing of online gaming in America
dramatically and instantly reduced the IPT's 2006 sponsorship revenue and
additional funding sources by over 80 percent. This totally unforeseen and
unfortunate development has caused a temporary shortfall in IPT revenues.
This has forced us to delay your prize money from the last tournament. Even
with the funding that we have received in the last week, a major shortfall
still exists. 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. For the future, we have commitments, based on the IPO of Ho
Interactive, of $25 million from institutional investors after the first of
the year.

The funding and sponsorship money that was promised to us was reduced to
only 20 percent of what was originally committed. Other sponsors and
funding sources are being organized now.

Again, I want to make perfectly clear that all players will be paid 100
percent, in full. At this time, due to these funding shortfalls, the IPT
cannot immediately pay all of the prize money. What we are committed to do
is pay all players a portion of the prize money due each week, starting this
week, until you are paid in full. I appreciate your displeasure with not
receiving 100 percent of the money immediately. However, please know that
no one is more disappointed than me.

This situation was created by the congressional legislation outlawing online
gaming. It was completely unforeseen, unavoidable, and came as a complete
surprise to everyone. Partypoker and other publicly traded online gaming
companies lost 70% of their value in one day because of this surprise law.
Investors, including myself, lost over $15 billion in combined valuation
following the signing of this new legislation. Nobody in the online gaming
community or international investor community saw this coming. Because of
it, our investors, sponsors, and funding sources temporarily put the IPT on
hold. We are handling this situation and are doing everything we can to
correct it. Based on this new U.S. law, the IPT's business model is
currently being revised to deal with this substantial change.

Many of you may wonder why I do not personally put the money in the IPT to
pay the players. I have already personally invested over $10 million to
date into the IPT. The IPT must operate as a profitable, independent
corporation to achieve long-term success. Remember, I have the most to lose
if the IPT is not successful. In business, unforeseen circumstances can
dramatically change the viability of an enterprise. Hotel owners in New
Orleans had to dramatically alter their businesses when hurricane Katrina
wiped out their hotels. People who were promised rooms did not receive
them. The hotel owner lost money. Everyone was adversely affected by the
unforeseen hurricane. When an airline is not profitable, it closes down.
Passengers who paid for tickets lost all their money due to the business
failure. The stockholders and owners of the airline lost the most. When
companies fail to achieve profitability they file bankruptcy. All of the
creditors do not get paid. Customers lose, vendors lose, employees lose,
and stockholders lose. These things happen in business all the time.
Business owners do not personally fund companies whose business models are
adversely affected by changing market conditions, new legislation, or
natural disasters. Donald Trump bankrupts companies instead of personally
putting cash into those enterprises. The wealthiest people in the world do
not continually fund businesses out of their personal assets. They have a
lot more money than I do, yet they still don't personally fund business
ventures. To date, I have personally invested more money into the IPT than
any successful business person would ever consider. I took the risk and
invested the money when nobody else in or out of the industry even
considered putting up a dollar. I did it because of my sincere love of the
game, my personal friendships with several players, and my total belief that
a professional pool tour can be an enormous success.

Due to the new U.S. law, the IPT's business model and operating structure
will change. I have $10 million invested in this business and I have every
intention and desire to deal with this situation and make the IPT a
long-term viable business and tour. I have the most to lose. You, as
players, should have a strong desire for the IPT to succeed. If the IPT
continues and succeeds, all of you will financially benefit. If the IPT no
longer exists, we all lose. As players, you should consider being
understanding and supportive of this tour. It is in your personal best
interest to do whatever you can so that the tour deals with this business
model change and continues year after year.

I want to answer directly several questions. Will there be another
tournament? The answer is absolutely yes! Most importantly, every player
will have been paid 100 percent, in full, before the next tournament. Will
there be a 2007 season? The answer is absolutely yes. We are working with
venues and dates now. We hope to announce the tournaments for 2007 very
shortly. Is the Ho Interactive merger completed? No. We are still
finalizing documents for the Ho Interactive acquisition. The delay has been
caused by a dramatic restating of our pro forma and business plan based on
the new U.S. legislation. It still appears to be a deal that will happen.
However, our backup plan is to do an independent IPO of the IPT regardless
of whether HoCasino.com is involved.

Our television coverage on VS in primetime is expanding. Our European Euro
Sport TV coverage is also expanding. We will be announcing further
television broadcasting deals for IPT tournaments. Our broadcasting
partners are excited and committed to the IPT for the 2007 season and
beyond. The IPT continues to achieve more television broadcasting than any
billiard tour in history. We continue to generate never before seen ratings
for billiards. With massive TV coverage world-wide, and strong ratings, we
are attracting major sponsors for the 2007 tour and beyond. Fortune 500
companies look at TV distribution and ratings. We have achieved
unprecedented success in both of these areas. Major sponsors budget a year
in advance for sponsorship initiatives. I will have great pleasure
silencing critics when we announce unprecedented major corporate sponsorship
for the 2007 season.

Please remember that when I launched the IPT we were met with massive
negativity and skepticism. I was criticized for every decision I made by
players, so-called fans, billiard organizations, and competitors. The IPT
plan was the most ambitious and risky business endeavor in billiards
history. I have my own personal money at risk. I have been attacked
personally and repeatedly even though we have, in fact, achieved great
things. Remember, we have paid out over $3 1/2 million in prize money
directly to the players. We have put on world-class tournaments sparing no
expense, providing the best accommodations for spectators and players. We
have paid over $1 million providing free food to players. For the first
time in billiards history we have secured primetime television coverage in
America with a major broadcast partner. For the first time in history, pool
is being broadcast live in primetime in Europe. For the first time ever,
pool is achieving spectacular ratings on television. Major sponsors are
coming onboard.

Yes, not having the players paid from the last tournament is more than
disappointing. Yes, having to cancel a planned tournament is disappointing.
Yes, having to reschedule several tournaments is disappointing. I admit
that our 2006 tournament schedule was overly optimistic and overly
ambitious. If I were to do it all over again, I would have had only one
tournament this year and built the business slower. Creating such high
expectations based on the commitments I received from funding sources and
sponsors was a mistake.

Overall I believe that the positives dramatically outweigh the negatives.
Mistakes were made. I am sure more mistakes will be made. I believe we all
should focus on the positives and the achievements we have made so far, and
focus on the future as we deal with this challenging temporary situation
caused by the new U.S. legislation.

I wish I could call each and every player personally, but time commitments
make this impossible. I would like to personally thank the overwhelming
majority of players who have e-mailed me and left messages offering their
support, understanding, and patience. To the players who have been vocally
negative, I would like to say I appreciate and understand your frustration
and disappointment. I would ask for your understanding and patience. At
this point it would be easy for me to shut down the IPT and have it become
another failed sports business venture like the USFL, XFL, or the dozens of
other attempted sports leagues that have failed. This would be the easy
thing to do. However, my whole life I have received great pleasure in
silencing critics and proving people wrong. To all the nay-sayers I would
simply say, "You will eat your words."

Remember, all players will be receiving checks this week and each week
thereafter until paid in full. There will be a robust 2007 season and
beyond. If you want to play in these tournaments I encourage you to do so.
If you choose not to play in IPT events, that will be your choice. I am
taking the IPT to the very top and whoever wants to come along with me is
welcome!

Remember, the dogs may bark but the caravan moves on!

Very truly yours,

Kevin Trudeau, Founder
International Pool Tour

Blah, blah, blah. Blah, blah, blah. Blah, blah, blah.

Interpretation: I don't want to go to jail. I will pay you. Just give me a little time.

 

[huckster]

Blah, blah, blah. Blah, blah, blah. Blah, blah, blah.

Interpretation: I don't want to go to jail. I will pay you. Just give me a little time.

Hey Jay,
You parapharse what I was trying to say quite well. How is pool paradise?

 

[AuntyDan]

Translation of KT into reality - Part One

Oh what the hell. Seeing as no-one else has grokked this fully yet I'll give translation a try. Please keep you arms and legs inside the vehicle at all times, this may get bumpy:

(I’ve had to snip a bit to keep the post short enough, and yet I still needed to 2 posts!)

PART ONE:

Dear IPT Players:

This is for PLAYERS only. It ain’t for you “so-called fans” (see below)

In my last e-mail I told you to pop the champagne. This may have been a little premature; for that I sincerely apologize.

Have you ever laughed so hard that Champagne came out your nose? That burning, stinging sensation is not at all pleasant is it? Much like the feeling most of us are getting reading this.

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.

Damage control to head office, we have partial containment of the lawsuits, but it cannae hold Captain! What more are we supposed to do, actually pay them?

As you are aware, President Bush has signed a new law making online gaming in America illegal.

The BASTARD! America has long been known world-wide as the most open, free and welcoming place for any and all forms of gambling.

Online gaming was an integral part of the IPT business model.

I mean Pool? As a business? What, are you guys smoking crack? Who the hell ever said Pool could make money is a total nut-job.

Over one year ago I met with representatives at HoCasino.com and structured a strategy ….This business "trade secret" was the magic ingredient …that would make the IPT a profitable ongoing business enterprise.

Over one year ago my Billiards Digest interview said my motivations for starting the IPT as “to positively impact the whole person” and “to have fun”. Clearly if I’d also said “to make a profit by selling the rights to online gambling on Pool” I would have been divulging an incredible idea that no-one else could possibly have thought of. (All those sites in the UK already doing it must just have been lucky)

The unforeseen… unforeseen and unfortunate development has caused a temporary shortfall in IPT revenues.

So when, in that same BD interview, I said “"I'm 100 percent guaranteed to 2006 and 2007. I've committed $1 million or more to every event.” I actually meant “I’m 100 percent guaranteed to change my guaranteed commitment depending on the business climate at any moment in time that may affect the secret deal I knew about right from the start that I told no-one about”

This has forced us to delay your prize money from the last tournament.…Even with this shortfall, it is still the IPT's intention to
pay all players, in full…

The road to Hell is actually paved with $20 bills. The stuff about good intentions is a trick by “them” that “they” don’t want you to know about.

We are organizing additional funding sources now to get you paid in full as soon as possible. ….

We put all our (your) eggs in one basket. Turns out it was full of holes. (Maybe it was actually a colander? Our lawyers are checking this even as we speak)

Again, I want to make perfectly clear that all players will be paid 100 percent, in full. …please know that no one is more disappointed than me.

Well, no one but me and three million of my little green friends that I keep in a hamper under my bed and roll around on at night giggling quietly to myself.

This situation was created by the congressional legislation outlawing online gaming.… the IPT's business model is currently being revised to deal with this substantial change.

No one saw coming a change that has destroyed my secret plan that no one knew was actually the plan all along. No one could possibly ever have expected the US government to actually enforce the actual laws that no one knew didn’t allow their citizens to just gamble any time they wanted. No one. NO ONE. Seriously, name one person who could have seen this coming? I mean, you can’t, don’t even try.

Many of you may wonder why I do not personally put the money in the IPT to pay the players.

Who, us? No way, we are all quite content knowing you have had a secret plan all along we couldn’t be told about, that makes it all just peachy. Really, put your wallet away, you are just embarrassing us now.

I have already personally invested over $10 million to
date into the IPT.

And 10% of that was for vegetarian food. No wonder Buddy Hall quit. Shame no-one thought to setup methane recycling plants for the IPT events, $1,000,000 worth of raw broccoli has got to generate a serious amount of backwash.

The IPT must operate as a profitable, independent corporation to achieve long-term success. Remember, I have the most to lose if the IPT is not successful.

What the hell do you think I’m doing here? Having fun? Positively impacting whole people? What kind of hippy crap is that. This is BUSINESS people.

In business, unforeseen circumstances can dramatically change the viability of an enterprise. Hotel owners in New Orleans had to dramatically alter their businesses when hurricane Katrina wiped out their hotels….

Hundreds of people lost their LIVES, thousands lost their homes and livelihoods. I’m a millionaire losing some fun money sponsoring a hobby. Do you mind not vomiting while I’m trying to talk? It’s most distracting.

The wealthiest people in the world do not continually fund businesses out of their personal assets...

Of course they also don’t form secret business plans, written on rice paper and concealed in a statue of Buddah, then tell everyone they are only interested in having fun and positively impacting the whole person.

To date, I have personally invested more money into the IPT than
any successful business person would ever consider. …Due to the new U.S. law, the IPT's business model and operating structure
will change.

Yes, I now have a cunning new secret plan. A plan so cunning you could stick whiskers on it and call it a weasel. Or a Trudeau, either is good.

I have $10 million invested in this business and I have every intention and desire to deal with this situation and make the IPT a long-term viable business and tour. I have the most to lose.

Didn’t you hear me the first time? I, the multi-millionaire, may have to buy only 10 new cars this year, instead of 20.

You, as players, should have a strong desire for the IPT to succeed. If the IPT continues and succeeds, all of you will financially benefit. If the IPT no longer exists, we all lose.

Haven’t you been reading all those nay-sayyers telling you I’ll declare bankruptcy and you won’t ever see a dime from Reno? Be afraid, be very afraid.

As players, you should consider being understanding and supportive of this tour. It is in your personal best interest to do whatever you can so that the tour deals with this business model change and continues year after year.

You know, you may, if you felt like it, consider donating a kidney to one of our potential sponsors. They’re looking a little peaky, best not to take a risk about a thing like that, even if they are taking plenty of Coral Calcium.

I want to answer directly several questions. Will there be another tournament? The answer is absolutely yes!

The answer is always Yes! The trick is figuring out which question I am answering. Sometimes it may be a secret business deal that I am actually talking about, you never know do you? I mean which twin has the Tony? And it’s too much money.

Most importantly, every player will have been paid 100 percent, in full, before the next tournament. Will there be a 2007 season? The answer is absolutely yes. We are working with venues and dates now. We hope to announce the tournaments for 2007 very shortly.

Oh we love IPT announcement. Love ‘em to death!

Is the Ho Interactive merger completed? No.…
However, our backup plan is to do an independent IPO of the IPT regardless
of whether HoCasino.com is involved.

You see, I have seen the future. It came scrunched up in a packet of Coral Calcium. It is entirely independent of any more secret business plans I have that may or may not fail. People IPO businesses based on secret business plans all the time, it’s pretty much just standard boilerplate at that point.

Our television coverage on VS in primetime is expanding.

Oh yes, the entire US television audience is staying up past Bull Riding time just for us. And remember, I'm not talking ESPN2. I’m talking VS! Booyah!

Our European Euro
Sport TV coverage is also expanding…We continue to generate never before seen ratings for billiards….

You are right, no one has seen the TV ratings. Care to publish them? Ever seen ratings for live televised Snooker in the UK? But hang on, online gambling was the secret business plan, the TV coverage was just a public story to distract people from your genius secret plan.

Fortune 500 companies look at TV distribution and ratings…

Just so you know they also tend to read court reports and criminal records.

Major sponsors budget a year in advance for sponsorship initiatives. I will have great pleasure silencing critics when we announce unprecedented major corporate sponsorship for the 2007 season.

Ahh. It’s all the damn calendars fault. I never trusted those things. By “unprecedented” presumably you meant to say “actual”?

Please remember that when I launched the IPT we were met with massive negativity and skepticism. I was criticized for every decision I made by players

Ah yes, so very many of them were screaming you down for throwing money at them. They have their pride you know, they can’t just be bought.

, so-called fans

Right back at you KT, “So-called business plan”

 

[AuntyDan]

Translation of KT into reality - Part Deux

PART TWO:

, …We have put on world-class tournaments sparing no expense, providing the best accommodations for spectators and players.

Not to nit-pick or anything but couldn’t you have maybe spared around $3 million to actually pay the prizes for the last tournament?

, We have paid over $1 million providing free food to players.

And yet here we are having to buy our own popcorn. Cheap bastard.

, For the first time in billiards history we have secured primetime television coverage in America with a major broadcast partner.

VS! Need we say more? No where is there a more major broadcaster of Bull Fighting. ESPN? We don’ need no steekin’ ESPN!

, For the first time in history, pool
is being broadcast live in primetime in Europe.

Yes, we can actually achieve the power to bend time itself, thus ensuring that events taking place live in the USA will actually be able to be seen in primetime across Europe no matter what “they” want you to think about international time zones and other conspiracies.

, For the first time ever, pool is achieving spectacular ratings on television. Major sponsors are coming onboard.

But only after a year of careful consideration, they don’t like to rush into things you know.

, Yes, not having the players paid from the last tournament is more than disappointing. …Creating such high expectations based on the commitments I received from funding sources and sponsors was a mistake.

What, you actually believed everything I said at the beginning? What are you, mentally challenged? Not getting enough Coral Calcium? What part of “secret logical business plan all along” didn’t you understand?

, Overall I believe that the positives dramatically outweigh the negatives. Mistakes were made. I am sure more mistakes will be made.

Oh yes, one thing I can guarantee you is more mistakes. Mistake after mistake, we just keep whipping them out. (Just ask Deno!) Hell I’ll even guarantee a personal mistake for any player that can make the 8 on the snap!

, I believe we all should focus on the positives and the achievements we have made so far, and focus on the future as we deal with this challenging temporary situation caused by the new U.S. legislation.

Gambling laws are just temporary things. People will soon get bored of them and forget where they left them.

, I wish I could call each and every player personally, but time commitments make this impossible. I would like to personally thank the overwhelming majority of players who have e-mailed me and left messages offering their support, understanding, and patience.

And if any of you need an advance on the 11% of 33% of 100% you have coming to you, please feel free to hand-wash my Mercedes, I’ll pay $5 plus tip if you're cheerful about it.

To the players who have been vocally negative, I would like to say I appreciate and understand your frustration and disappointment. I would ask for your understanding and patience.

I would like to say. I would ask. But I won’t.

At
this point it would be easy for me to shut down the …To all the nay-sayers I would simply say, "You will eat your words."

I found out the hard way that fancy veggie treats are waaay too expensive, so from now on nay-said words will be served instead, lightly buttered on Ritz crackers.

Remember, all players will be receiving checks this week and each week thereafter until paid in full.

Because if you got this far your brain is probably already in spasm, and that makes it hard to remember anything (Unless you get some of my patented Memory Calcium)

There will be a robust 2007 season and beyond.

Robust, like the broad chest of a prison guard. Oh yeah.

If you want to play in these tournaments I encourage you to do so. If you choose not to play in IPT events, that will be your choice. I am taking the IPT to the very top and whoever wants to come along with me is welcome!

Made it Ma! Top of the World!

Remember, the dogs may bark but the caravan moves on!

If the dog barks in the forest but the wheels have all fallen off the caravan will anyone one hear it?

 

[jimmyg]

Obviously, with all the lies up to this point, it's easy to dismiss this as just another lie......but WHY ? What does he gain by lying this time?

Simple, think about it.

He quiets the opposition and stalls the legal process, while buying time to hold a few hundred more qualifiers. Takes in $500,000.00, pays out $250,000.00, he'll do it as long as he can.

This is his MO, he's been doing it for years.

Jim

 

[Rich93]

I especially like this line:

It still appears to be a deal that will happen.
However, our backup plan is to do an independent IPO of the IPT regardless
of whether HoCasino.com is involved.

Kevin's IPO:
"And now, for a limited time only, I'm offering shares in my fabulously successful new company, the International Pool Tour. Please call my wealth hotline 1-800-GETRICH and have your credit cards ready, my operators are standing by now!! Warren Buffett wanted to buy all the shares, but I told him no, Warren, you're rich enough already and so am I, so let's give everybody else a chance to get rich. So act now - don't let this once in a lifetime opportunity slip through your fingers!!"

 

[Klopek]

Yet another stall tactic.

If you lay a guilt trip on the players and convince them that the show is going on, they'll "call off their dogs" and go back to waiting on pins and needles. Obviously he underestimated the players self-respect by thinking they could be bought off with a mere pittance of their actual winnings.

When the players are paid in full, KT may regain some degree of legitimacy, but only if he places all future pots in escrow.

 

[TheOne]

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?

OK lets assume each player had 3 meals a day while still in the tournament. We know that many of the players had little time to eat so I'd say this is probably double the amount consumed. Here's a rough guesstimate of the schedule for one event:

3 meals x 200 players x 2 days = 1200
3 meals x 120 players x 2 days = 720
3 meals x 60 players x 2 days = 360
3 meals x 36 players x 1 days = 108
3 meals x 18 players x 1 days = 54
3 meals x 6 players x 1 days = 18
3 meals x 2 players x 1 days = 6

If he spent $1m on 1 event it would work out at $405 a head! If he's talking about ALL 4 events to date it's still well over $100 a head (2 events had less players)

For the type of food that was described, buffet style and that volume I'd be surprised if he paid more than $5 a head.

Typical KT, but even if you believed this claim then you'd have to believe his claim to have sold "millions of DVDs online" Surely this would cover the food?

 

[MOJOE]

Let's hope

For the players sake.. I hope that it is true. Only time will tell!!

 

[ShootingArts]

well written

This is well written and well thought out. Proof positive that KT was not the primary author. Very likely that he had oversight because of the techniques used. Hammer on a lie over and over. Nobody was blindsided by the gambling law and indeed online gambling has been illegal already in the US which is why our casinos are watching the flow of dough go overseas.

However, blame that and the government, everyone's favorite goat. Dangle the carrot again. It is getting a little old and moldy looking but hey, it is still the biggest carrot around. Confuse the timeline. Some of his stuff sounds much more plausible if you don't look at dates too closely.

I agree with those that believe this is an effort to break the unity and united purpose of the players. I also believe that KT lives in a not quite real world of his own making. He looks at most of the human race with contempt, including pool players who aren't friends. That makes it easy to underestimate his danger. He really doesn't want to go back to the hotel with Plexiglas windows. A bit late he realizes that could be a possibility.

He has put so much into writing over the course of the IPT that I think that he is had if things ever go to court. That doesn't mean that the players will when though, only that KT will lose. As usual, the lawyers win. I'm sure that the Fed's would like to bust his chops over the end around book infomercial skirting his agreement with them to never sell another product in an infomercial. Getting some charges with big ugly sounding federal names to them probably wouldn't be too hard. KT has more to fear than the pool players if this thing generates too much stink. That may be the best hope for the players getting paid to date. Of course whatever happens KT will "regretfully" shut down the IPT in the near future. He will almost certainly toss blame everywhere but where it belongs when he does.

Hu