A lot of what I would do has already been mentioned above.
1) The professional game should be 8-ball. That is what the general public know, that is what they understand, and that is what they play.
2) The rules would be open after the break, no jump cues, and otherwise closely follow the BCA rules already in existence.
3) The professional game needs to be played on professional equipment under professional conditions. The tables would be 10 foot diamonds and the pockets would be cut exactly like the Fatboy rails that TAR once used. Much as the professional golf tour is played on tougher then average conditions and a pro riley snooker table is tougher then a normal snooker table in most places the tour would have very tough tables. This fact would be made very clear during the initial stages of the tour so that the general public understand these are not bar boxes.
4) The game needs a proper professional designation. Professional status in the game needs to be earned through a qualifying school. In the start of a tour that I built I would run qualifiers for EVERYONE. Not a single person in the world would be "invited". Earl, SVB, Mika, Wu, I don't care who they are they need to qualify through a series of international qualifier events I would run.
5) Once you are qualified as a tour professional and win your players card you do NOT have to pay to enter tournaments. Each professional player who has earned their cards has automatic entry.
6) Qualifiers for individual events would be run prior to events where single entry into single events could be won. Those players winning the entry do not have to pay to enter the main event but the qualifiers would be paid entry and the income from the qualifiers would be put into the main event purse.
7) Winning a single event automatically earns a player without a tour card their card for the remainder of that year and the following year.
8) Rankings are kept, events are seeded, and at the end of the year the bottom 25% of tour card holders lose their cards and must go back to the Q School tournaments to re-earn their professional tour card (unless they won an event). The people losing their cards are replaced by the same number of people coming from the Q school.
9) The tour would have a maximum of 128 professional tour cards available worldwide.
10) Events would be single elimination, seeded, and matches would be races to 13, win by two, alternate break, lag for first break. Finals would be race to 17, win by two, alternate break.
11) Sponsorship deals with key industries such as airlines would be made that would allow for reduced/free economy airfare for the players on the tour.
12) The tour would be international. The events would be spread across the world. At the beginning the tour would be kept small (6 events for the year, two in America, 2 in Europe, and 2 in Asia) and would be allowed to grow and expand slowly. At it's peak the tour would aim to have 24 events per a year including 4 majors, 3 regional majors (American, Asian, and Europe) and a tour championships/world title.
13) Due to the difficulty of attracting TV involvement in the sport atm the use of online streaming would be used and heavily marketed across many popular online social networking sites such as Facebook, Twitter, Youtube, ect...
14) It would be attempted to have the streaming be free to increase the viewership and advertisement/sponsor numbers. feasibility of free streaming would have to be assessed and if it was determined that it would not be possible the viewing of the tour would be sold by the event with a greatly reduced pricing plan to buy the entire season.
15) As the popularity and viability of the tour grows it would be marketed to TV interests for "live only" broadcasts.
16) An 8-ball league would potentially be created to build an associated amateur system that would then be connected to the professional tour. The league would allow for the potential to win your way into individual events and at the end year tournaments would give the possibility for people to win their professional tour cards. The league system would include a small amount of money from league fees to go to the professional tour and in turn the league players would have access to the tour streams (if they were PPV) included in being a member of the league system. Entry into the end of the year singles events to attempt to win the tour cards would also be included for all league members and would have been paid for as a part of the league fees.
17) Creating avenues to bet on the outcome of matches/events would be sought out and encouraged. Things like the European betting houses would be approached and encouraged to support/sponsor the league due to the mutual benefit it could create. Betting through the casino books in Vegas would also be sought out.
18) Throwing of matches, betting on matches by the tour players (even not their own match) would be against the rules of the tour and anyone caught doing it would receive a lifetime ban from the tour, period. One strike and you are out on this.
19) Marketing and imaging of the tour/sport would be done by professional marketing firms and people who do this type of thing for a living. Management of the tour would be done by professional management firms. This would NOT be done by the people in the pool world who think they can actually do this type of thing and have proven time and time again they simply cannot.
20) There would be a lot of working on how to properly present the sport. I am unsure of if showing a single match is actually the way to go for pool. I think doing a mix of live and recently taped clips of various matches might be preferable as a spectator sport (Which pool sucks at being atm and which is it's main problem). Something closer to what golf does, showing clips of shots from all over the course and from all of the players instead of following around a single golfer including their walk to the next shot (which in pool is almost what we do when watching slow players look over a shot for 2+ minutes). Those two minutes would be better spent showing highlights from other live matches where the action is not in a lull. It would cost way more money to set this up and pay the added staff that would be needed but the payoff in a far better to watch product could be huge is the general public caught onto it and actually liked it.
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The trick is getting the general public to take notice and thus allow for the added sponsorship options that would arise were the game to become more popular. I believe 8-ball if the ONLY option, rotation pool has simply never caught on with the general public, it is still a niche that only pool fans/players know of and we NEED more of the non-pool fans to take notice and start watching the sport.