dollar down and a dollar a week

macguy

AzB Silver Member
Silver Member
After the most recent announcement from KT, it is clear they can't even pay the 1/3 of the 1/3 they talked about in the emails to the players. Now they are reduced to talking about paying a dollar down and a dollar a week.

This is a dry well, there is no money and unlikely ever will be. This is showing signs of reaching the end, the curtain is coming down on this tragedy and a final, "We can't pay, sorry", will come some time in the near future.
Some of the player are going to need therapy after all this.
 
macguy said:
...on this tragedy and a final, "We can't pay, sorry", will come some time in the near future...


I have my doubts about players geting paid a dime, but... I will assume that any business man would keep the IPt alive since it appears to have some income potential. Just the TV deals alone (assuming its all true, of course) is worth keeping doors open. At a much lower payout level I suspect but nonetheless, the IPT should have reason to stay in business.

If I spent millions on a start up I would certainly keep the business going if there was a market for my product. The question, to me, is - Does the current TV deals offer enough future revenue to justify paying out the 3 million?

I almost want to think the IPT will stay alive because there is some money to be made. Hopefully the payouts will be higher than the norm... If it was any other business man at the wheel and there was no lies, I would be sure of it...


Look at it this way for a moment, Macguy - A business man has invested millions and he has a sellable product in some form. Why would that be tossed away? Nobody likes to lose and KT is clearly the biggest loser in the IPT... I say he is going to make a go of it... I'm sure I am wrong lol but it would appear that the IPT *should* stay in business which means paying the players... I hope they get paid...
 
CaptiveBred said:
I have my doubts about players geting paid a dime, but... I will assume that any business man would keep the IPt alive since it appears to have some income potential. Just the TV deals alone (assuming its all true, of course) is worth keeping doors open. At a much lower payout level I suspect but nonetheless, the IPT should have reason to stay in business.

If I spent millions on a start up I would certainly keep the business going if there was a market for my product. The question, to me, is - Does the current TV deals offer enough future revenue to justify paying out the 3 million?

I almost want to think the IPT will stay alive because there is some money to be made. Hopefully the payouts will be higher than the norm... If it was any other business man at the wheel and there was no lies, I would be sure of it...


Look at it this way for a moment, Macguy - A business man has invested millions and he has a sellable product in some form. Why would that be tossed away? Nobody likes to lose and KT is clearly the biggest loser in the IPT... I say he is going to make a go of it... I'm sure I am wrong lol but it would appear that the IPT *should* stay in business which means paying the players... I hope they get paid...


You are quoting almost exactly what I said in another posting a few days ago, but I am now beginning to wonder. I thought they may want to clear up the players debts for the 33 cents on the dollar for the same reason, to keep the doors open. There is some money to be made back over time whether marketing DVD's or through TV deals they have.

I think they are beginning to think the players are going to force their hand though and they would rather now fold then even pay off the 1/3rd they alluded to. They tested the waters and may be looking for an exit plan now. I know the players feel they want to keep the moral high ground but they may just as a result get nothing. It's all a game, all business is, you do what you think is right or smart but never really know what will happen unless you have inside information.

The players need a mole inside to really know what is going on. If they knew for sure the 1/3rd was for real, they could have taken it but everything is suspect with the IPT and KT. I am sorry to say, the edge still goes to KT and he holds the cards. The players are at his mercy regardless the future is completely up to him.

Some of the comments he made in the last announcement may give an indication he is looking for an exit plan if he doesn't already have one. He is looking to place blame elsewhere. Things were not our fault, the naysayers did it to us, it was the government, Bush, the terrorists, they are running out of excuses. These are usually the last step before the "Well we did all we could do, not our fault, sorry". You can almost here it now in the last announcement. They are about one or two announcements away from the throw in the towel announcement.


How about, they ran a tournament without any money? It is not at all complicated.

You know the funny thing about all of this? They could have said exactly that and the players would have been mad but would have accepted it and all they would have had to do at that time would have been to arrange to get them paid even if not in full. Their lies have dug them such a deep hole they can't ever get out now. It is so easy to tell the truth, even if it is not what someone wants to hear, but they just aren't capable of it.
 
Last edited:
I have not read all your posts MacGuy :)


I look at it this way - A rich man was seperated from alot of his resources. This is always a good thing for the economy of poor folk... Millions to pool players and associated groups for the events. If anything, pool just got a nice boost over the last year. Lots of money floating around that would have never been there otherwise...


I really believe (and it obvious) that he tried to start a legitament business. He was just foolish in the model and it cost him millions. Thats his problem... Lets hope it cost him another 3 million before he gives up...

People should really look at this a different way. The IPT HAS been good for pool no doubt. It looks like there could be some sort of a future for the tour if they get past this greedy non payment issue. If it does not, oh well... he lost millions and gave it to pool players :) I have no complaints there. lets hope he loses all the rest of his cash to pool players before some other MS gets ahold of it in some other venture ;)

As far as the payments -

I think he has finally valued the earning potential of the tour. It is not as lucrative as it needs to be. So he is going to adjust. He knows he needs to keep the players to do so and is trying to screw them to keep true to his character. IMO, he tried to keep the players for as little as possible with all the rumored pay structures. This is not uncommon and I would not be surprised if an accountant is advising him how to keep as much of his cash as he can.

It almost looks like he will pay and the tour will continue in a smaller fashion. Its hard to tell to be honest. If it were me and I was going to run, I would have just went bankrupt. Why string along an unpleasant situation? He does have a bankruptcy option that he could easily take but has not... yet... This is worth thinking about.

Maybe there is some bankruptcy strategy I am unaware of and that is what he is up to. That would make sense to me if he was trying to save a million dollars out of the bankruptcy... Otherwise, I can only see a future with the tour...


I say sue him no matter what happens. Form the union and hope the IPT has events to compliment the existing tours every year. Once players have been paid and the tour become stable he should meet some unfortunate (for him) fatal outcome :)
 
Back
Top