Earl & Efren money instalments.

R

Raph Cleary

Active member
I'm finding it difficult to find information about money not being paid. Any help would be greatly appreciated.

1) Did Efren receive the $500,000 in full, for winning the IPT World Open Eight-ball Championship in 2006?
2) Did Earl receive the $1,000,000 in full, for winning the PCA Million Dollar Challenge in 1996?
 
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garczar said:
No clue on the IPT. As for the Earl deal Jay H. should chime in as he was there. I think after all the legal smoke cleared he got around 300k. Some other sources say he got twice that. Who really knows?
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CJ will know. I think because it was a lump sum payout, it was reduced from nominal, just like lottery payouts.
 
Bob Jewett said:
CJ will know. I think because it was a lump sum payout, it was reduced from nominal, just like lottery payouts.
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I think that was more due to the insurance company stalling at paying it out, they started to bring things into it like the 9 on the breaks he made, self-racking, etc... and settled for less than the full price. No template racks back then, but if it's my money going on this feat, I would put in no 9 on the breaks, at least 6 balls cleared before the 9 goes (so no 2-9 combos and such to ensure it's a "run out" not just a game win but I would accept say a 6-9/7-9 or 8-9 combo) and a neutral racker.
 
hang-the-9 said:
I think that was more due to the insurance company stalling at paying it out, they started to bring things into it like the 9 on the breaks he made, self-racking, etc... and settled for less than the full price. No template racks back then, but if it's my money going on this feat, I would put in no 9 on the breaks, at least 7 balls cleared before the 9 goes (so no 2-9 combos and such to ensure it's a "run out" not just a game win) and a neutral racker.
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Yes, I think the insurance company asked the wrong "experts" about 9 ball.
 
raphcleary said:
So Earl settled on about $300,000 two and half years later, I believe Jay said. C.J Wiley said Earl received $600,000?
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I had dinner with CJ not long ago during a trip to Florida, he happened to be going to a pool hall I also was. He said when Earl got the run out he gave him a check himself as an installment, although I don't remember for how much. I think the full story is in one of the videos CJ sells.
 
hang-the-9 said:
I had dinner with CJ not long ago during a trip to Florida, he happened to be going to a pool hall I also was. He said when Earl got the run out he gave him a check himself as an installment, although I don't remember for how much. I think the full story is in one of the videos CJ sells.
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CJ said it was $50,000 in a podcast I watched a while back.
 
I thought Earl settled out for $236,198.58, five entry level Meucci two-pointers, a box of tan colored Masters chalk, and three pool cases like the one in Color of Money. LOL I have no clue, just find all the differing numbers funny. It's starting to look like an unsolved mystery, maybe ESPN will do a 30 for 30 documentary on it.

....Back to the serious thread now...
 
raphcleary said:
I'm trying to find out who holds the record for earning the most money in a season, I'm finding this increasingly difficult due to some queries about money not being paid. Any help would be greatly appreciated.

1) Did Efren receive the $500,000 in full, for winning the IPT World Open Eight-ball Championship in 2006?
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Yes, regarding Efren (500k) and Rodney's (150k) prize money. Both players received their full prizes. Here are the verifiable facts: Immediately after this tournament ended, the promoter (Trudeau) discussed with Efren and Rodney the fact that he was faced with serious financial difficulties (and legal problems) relating to his nutritional supplements company. Both players understandingly agreed to installment payments of their prize monies. They were fully paid over a 14-month period of 9 installments in chunks of 11%. Neither of them had negative things to say about the organizers.

Read about it here: http://www.billiardsdigest.com/new_current_issue/dec_16/bb_index.php

The accurate, provable facts regarding the actual payments are fully discussed in that article. Hope the article helps anyone who might be interested.

Arnaldo
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arnaldo said:
Yes, regarding Efren (500k) and Rodney's (150k) prize money. Both players received their full prizes. Here are the verifiable facts: Immediately after this tournament ended, the promoter (Trudeau) discussed with Efren and Rodney the fact that he was faced with serious financial difficulties (and legal problems) relating to his nutritional supplements company. Both players understandingly agreed to installment payments of their prize monies. They were fully paid over a 14-month period of 9 installments in chunks of 11%. Neither of them had negative things to say about the organizers.

Read about it here: http://www.billiardsdigest.com/new_current_issue/dec_16/bb_index.php

The accurate, provable facts regarding the actual payments are fully discussed in that article. Hope the article helps anyone who might be interested.

Arnaldo
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Wow, thank you, have you any info about Earl's payments.
 
raphcleary said:
Wow, thank you, have you any info about Earl's payments.
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Ralph -- Eezy-peezy: simply expand and email that question to the present Editor of Billiards Digest and also the Editor of Pool and Billiards magazine. Someone on their staffs will have the easily-researchable appropriate data (both mags having done countless Earl-related articles over the years). Two minutes on Google will yield the respective website addresses for both mags.

Arnaldo
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CLAUD said:
CJ said it was $50,000 in a podcast I watched a while back.
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I just watched the dvd. CJ paid Earl 50g's up front and then whatever he got later was not told. They spent 300g's in lawyer fees so that would have left 330ish thousand left of the 630g payout. Earl said he wanted to buy a poolroom but his wife said nope, we're buying a house.
 
arnaldo said:
Yes, regarding Efren (500k) and Rodney's (150k) prize money. Both players received their full prizes. Here are the verifiable facts: Immediately after this tournament ended, the promoter (Trudeau) discussed with Efren and Rodney the fact that he was faced with serious financial difficulties (and legal problems) relating to his nutritional supplements company. Both players understandingly agreed to installment payments of their prize monies. They were fully paid over a 14-month period of 9 installments in chunks of 11%. Neither of them had negative things to say about the organizers.

Read about it here: http://www.billiardsdigest.com/new_current_issue/dec_16/bb_index.php

The accurate, provable facts regarding the actual payments are fully discussed in that article. Hope the article helps anyone who might be interested.

Arnaldo
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Close but not quite Arnaldo. After over a year of stalling Trudeau agreed to pay all the prize money owed in nine monthly installments, at a rate of 11% each month (I guess the missing 1% was just his little grift). All went well for several months and then Trudeau started to drag out the payments, taking two, three months and even longer closer to the end, to where it took almost two full years before everyone finally got paid. Efren was not paid the full 500K! Trudeau held back 150K that he said he was required to do by the IRS since Efren was not a U.S. citizen. No one knows if that money was actually ever paid to the IRS. Efren did end up with 350K when all was said and done, nearly three years after the fact. Earl did get over 300K in the final settlement and CJ got back his 50K.
 
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jay helfert said:
Close but not quite Arnaldo. After over a year of stalling Trudeau agreed to pay all the prize money owed in nine monthly installments, at a rate of 11% each month (I guess the missing 1% was just his little grift). All went well for several months and then Trudeau started to drag out the payments, taking two, three months and even longer closer to the end, to where it took almost two full years before everyone finally got paid. Efren was not paid the full 500K! Trudeau held back 150K that he said he was required to do so by the IRS since Efren was not a U.S. citizen. No one knows if that money was actually ever paid to the IRS. Efren did end up with 350K when all was said and done, nearly three years after the fact. Earl did get over 300K in the final settlement and CJ got back his 50K.
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Thanks, Jay for supplying the factual insights that modify what was available to the Billiards Digest editor at the time. Your expertise and inside-info in these matters is beyond question. We are all indebted to you (oops . . . that's possibly an inopportune phrase given the context of this discussion).

Arnaldo
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jay helfert said:
Close but not quite Arnaldo. After over a year of stalling Trudeau agreed to pay all the prize money owed in nine monthly installments, at a rate of 11% each month (I guess the missing 1% was just his little grift). All went well for several months and then Trudeau started to drag out the payments, taking two, three months and even longer closer to the end, to where it took almost two full years before everyone finally got paid. Efren was not paid the full 500K! Trudeau held back 150K that he said he was required to do so by the IRS since Efren was not a U.S. citizen. No one knows if that money was actually ever paid to the IRS. Efren did end up with 350K when all was said and done, nearly three years after the fact. Earl did get over 300K in the final settlement and CJ got back his 50K.
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Thanks Jay!
 
jay helfert said:
Close but not quite Arnaldo. After over a year of stalling Trudeau agreed to pay all the prize money owed in nine monthly installments, at a rate of 11% each month (I guess the missing 1% was just his little grift). All went well for several months and then Trudeau started to drag out the payments, taking two, three months and even longer closer to the end, to where it took almost two full years before everyone finally got paid. Efren was not paid the full 500K! Trudeau held back 150K that he said he was required to do so by the IRS since Efren was not a U.S. citizen. No one knows if that money was actually ever paid to the IRS. Efren did end up with 350K when all was said and done, nearly three years after the fact. Earl did get over 300K in the final settlement and CJ got back his 50K.
Click to expand...
 
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