Before folks get too stirred up, I'm pretty sure that they are committed to paying an advertised first place and a percentage of the field in each event.
Hu, I'm inclined to agree with you. So far this has all the makings of a top quality annual event. I was skeptical from the very beginning. However, I'm gradually changing my opinion.
Yesterday in Galveston, I spoke with one of the guys who's close to the major guy. He told me than Rone and the others are used to making legitimate huge real estate deals for multi millions. He said that when Rone heard that everyone was questioning the dependability of the purses, he was shocked. I don't think Rone's group fully realized that they were dealing with a group of people that have a long history of being taken advantage of by shady characters; and who are typically left in the lurch.
Of course we won't know for certain until the end of the event. But it sure looks legit to me. This has all the makings of a great annual classic event. If they make it through the first 2-3 years, it could rival the DCC in popularity.
Now for mundane news: There's been no major action, and only modest cheap action. There are 25 marquee names, along with another 30 top road dogs-- all standing around feeling each other out, and acting like they're too important to be interested...

Efren gave a decent player (name unkonwn to me) 11-8 for cheap sets. I believe Billy I. was getting 9-6, plus hit & the pick from Scott Frost. Stakes unknown. Frost had offered 10-6 to both Lil John and Danny Smith. They both turned him down!! I was surprised at Lil John. Perhaps the jack wasn't right.
The Calcutta was startingly cheap! I don't think guys realized that there would be a calcutta. I think the most paid for a player was $600! And that was for ME! (kidding) I think horses will bring suitcases full of dough for next year. I'm guessing that the 9/10 ball Calcuttas will be much heavier.
Doc