Fork In The IPT Roadway

[RED LITE]

Here's how I see the situation. There are two possible outcomes.

(1) The IPT entity cannot pays the bills, including the Reno players, so part of the alleged "HO DEAL" , which is probably much less than the reported $150M, would be to pay off the Reno players and keep the tour going; but only if the "HO DEAL" goes through; ..... (or)

(2) The IPT entity declares bankruptcy, and the players, employees, and everyone else become creditors in federal court. The legal fight then becomes whether it was actually a big fraud, and whether KT can be held personally for the outstanding debts.

That's it, folks........

 

[NYC cue dude]

I went on record about 36 days ago, saying the same exact thing.

The sale, if true, would be a bailout.

If not, the plywood goes up, and the for rent sign comes out. (that might explain the for rent sign at the ipt location) lol


rg

 

[AuntyDan]

Don't forget option 3

You forgot option 3:

3) The Ho deal is officially called off. KT then very promptly pays all the players for Reno (And pays all other outstanding payments) using his own funds. Chicago and Vegas both continue as scheudued.
This option should be perfectly valid as long as everything KT has said publicly about how much money he has commited to the IPT for '06 and '07is true. He even implicitly agreed he was both willing and able to pay the Reno purse from his own funds and was only restricted from doing so by legal issues arising from the Ho deal.

How likely is option 3? I have no idea, and neither realistically does anyone else right now except KT himself, and maybe Deno. Certainly all the lies and misdirections to date do not engender confidence, but stranger things have happened.

Personally I actually have some faith that KT will come through with option 3 if the Ho deal falls through. This is not because I think he is a good businessman or that the IPT has a sound business plan, now or in the future. Rather it's because the whole IPT has been a vanity project for KT from the start. He's been there at all the events, put himself on Sigel's instructional videos, and made himself co-commentator on the televised matches despite having almost no qualifications for this. Never underestimate the ego of a rich man.

 

[jimmyg]

Personally I actually have some faith that KT will come through with option 3 if the Ho deal falls through. This is not because I think he is a good businessman or that the IPT has a sound business plan, now or in the future. Rather it's because the whole IPT has been a vanity project for KT from the start. He's been there at all the events, put himself on Sigel's instructional videos, and made himself co-commentator on the televised matches despite having almost no qualifications for this. Never underestimate the ego of a rich man.

Very acute observation, people with "KY (oops KT) syndrome" are ego driven, dislike and reject failure and sometimes, amazingly succeed.

But I doubt it very much.