just sharing what i found from a daily
http://www.mb.com.ph/issues/2006/10/04/SPRT2006100476245.html
Bata’s P25-M pot still undelivered
Players denounce organizers for delay
By NOLI CRUZ
EFREN “BATA” Reyes has yet to receive the 0,000 (R25 million) he earned by topping the recent World 8-Ball Open in Reno, Nevada, but his chief backer, sportsman Aristeo “Putch” Puyat, asserts there’s nothing to worry about.
Puyat said this is not the first time that the awarding of prizes has been delayed, citing other international events.
"One time in the US Open, it took almost a year before Efren (Reyes) received his winning check," Puyat disclosed.
The International Pool Tour, which organized the event, has been attacked in on-online forums in pool web sites for failure to hand out the prizes to the winners.
The AZBilliards.com, in fact, has gathered over 20,000 messages commenting and denouncing the inability of IPT to hand out the prize money on time.
But IPT founder Kevin Trudeau, in e-mail messages to the players’ managers, assured that the IPT will honor its obligations as he cited the ongoing merger with the Ho Interactive of gambling magnate Stanley Ho as the cause for the delay.
"The Ho Interactive corporate merger is a massive and complex business transaction which will give the IPT worldwide credibility and financial stability more quickly than having the IPT stand alone," Trudeau explained in his letter.
"All new businesses have naysayers," he added. "The IPT from its inception has had its share of people who enjoy spreading false gossip (about IPT)."
Trudeau said the IPT, in just over a year, has been more successful than virtually almost all other billiards tournament promoters and associations combined.
Marlon Manalo, who was eliminated in the second round of the World 8-Ball, said he has yet to receive his purse, but the prize he won from the North American 8-Ball Championship in Las Vegas, Nevada has already been received. He earned ,000 (about R5 million) for placing second to German Hohmann.
Billiards and Snooker Congress of the Philippines (BSCP) President Ernesto Fajardo said that he will raise the matter in their next board meeting to find out the reasons for the delay.
"Nangyayari naman talaga na natatagalan bago makuha ng players ang premyo nila pero s’yempre kailangan gumawa rin tayo ng hakbang to make sure na hindi madedehado ang mga players natin," Fajardo said.
Puyat said that the IPT will honor its obligations to the players.
"In the first two big events of IPT they have shelled out about .5 million in prizes. Out of that amount more than 0,000 went to Filipino players," Puyat said.
Local pool manager Perry Mariano, who had several players playing in IPT, is also not concerned at all.
"Natural lang naman sa mga international events ‘yung delayed ang bigay ng prize money," Mariano said. "Meron nga local tournament lang hindi pa agad naibibigay ang premyo eh."