There are only two good reasons for being unwilling to post a prize fund in some type of escrow that is in someone else's control. The first would be if you simply don't have the money. The second would be if you already know that you may not want to pay out the money whether you have it or not. In other words,
you would refuse escrow only if you want to retain the option to stiff players.
I tried to tell you this right after you accepted the position of running this event. You chose to "take his word on it" instead, even though you as well as the rest of the world know through many years of his track record that his word is meaningless. Burn me once, shame on you. Burn me twice, shame on me.
I know you say you wanted to do what was best for the players, and I agree that having you run the event was a definite plus. However, if truly looking out for the players, considering Barry's track record, you should have insisted upon and it should have been conditional upon the prize fund being in an escrow beyond Barry's control. That would have been looking out for the players.
I'm not saying you didn't have good intentions or are a horrible person or anything like, as we all make mistakes. But I also want to call a spade a spade. You dropped the ball on this one, badly. Live and learn (hopefully).
See this thread and particularly my posts 5, 8 and 13 for where this was discussed previously.
http://forums.azbilliards.com/showthread.php?t=377531