IPT Announces New Schedule for World Open Payments, Qualifier Refunds

9 Ball Girl

9 Ball Girl

aka Wendy
Silver Member
Some IPT news from the Billiards Digest home page:

IPT Announces New Schedule for World Open Payments, Qualifier Refunds

Kevin Trudeau, founder of the International Pool Tour, announced in an August 21 open letter to all tour players that all remaining unpaid prize money from last year's World Open 8-Ball Championship will be delivered by December 15.

One year after the tournament event ended with players waiting for their checks, players have received 55 percent of the $3 million promised them by the IPT. According to the new payment schedule, players will receive the remaining 45 percent in four monthly installments. The first checks will be shipped out September 15, according to Trudeau's statement.

"I think a year or 18 months is a very long time," said Tour Director Deno Andrews. "I?ve been lobbying to get the players paid in full by the end of year."

Though the payments should occur "on or about" the 15th of every month, the schedule is subject to change.

?Obviously we?ll see as it progresses, but I?m satisfied that something is on the schedule so that players are being told they will get their money,? Andrews said.

Regarding the hundreds of players who paid significant entry fees to qualifying events for 2007 tournaments, Trudeau outlined a plan for players to be refunded.

Players that took first or second in a qualifying tournament will receive a complete refund and free entry to all, if any, IPT events through 2013.

Players who did not finish in the top two have a choice. They can accept a full refund, and pay entry into any future IPT events. Players can also refuse a refund for free entry into all, if any, IPT tournaments through 2013.

Refunds of qualifier fees are scheduled to be paid in six monthly installments beginning Sept. 30.

 
It's funny that they can choose to not collect a refund in exchange for free entry fees to all IPT tournaments through 2013. Umm ... Call me crazy, but I'd be taking the refund money and running for the door.
 
If KT applied himself to a different profession it should make for an interesting story.
 
And for the followers of KT...I've recently found a "CURE" for hairloss. Give me your credit card so I can hit it for $389.99 at least 2 or 3 times over the next few years. After payment has been received you will then be directed to a website where you can purchase a wig.:D :D :D
 
The Possibilities Are ENDLESS... (We're Rich, We're Rich)

Varney Cues said:
And for the followers of KT...I've recently found a "CURE" for hairloss. Give me your credit card so I can hit it for $389.99 at least 2 or 3 times over the next few years. After payment has been received you will then be directed to a website where you can purchase a wig.:D :D :D
Click to expand...

Don't think so small....
Let me be your partner and for $49.95 we can let the buyers subscribe to a bi-monthly newsletter, which will tell them how (and where) to grow their next 10 hairs.
Doug
( our income will depend on how much hair they WANT ) :)

Doug
( don't get me started on "Scalp Itch Cures THEY Don't Want You to Know About"........... AND..... "Natural Shampoos"....... AND "How To Cut Your Own Hair" ) :)
 
It's a strange thing. I don't see anything about the players getting interest for the many months they have been waiting for their money. :confused:

Correct me if I'm wrong, but if KT's publisher held his royalties for that long, I think KT would be looking for interest. :eek:
 
9 Ball Girl said:
Some IPT news from the Billiards Digest home page:

IPT Announces New Schedule for World Open Payments, Qualifier Refunds

Kevin Trudeau, founder of the International Pool Tour, announced in an August 21 open letter to all tour players that all remaining unpaid prize money from last year's World Open 8-Ball Championship will be delivered by December 15.

One year after the tournament event ended with players waiting for their checks, players have received 55 percent of the $3 million promised them by the IPT. According to the new payment schedule, players will receive the remaining 45 percent in four monthly installments. The first checks will be shipped out September 15, according to Trudeau's statement.

"I think a year or 18 months is a very long time," said Tour Director Deno Andrews. "I?ve been lobbying to get the players paid in full by the end of year."

Though the payments should occur "on or about" the 15th of every month, the schedule is subject to change.

?Obviously we?ll see as it progresses, but I?m satisfied that something is on the schedule so that players are being told they will get their money,? Andrews said.

Regarding the hundreds of players who paid significant entry fees to qualifying events for 2007 tournaments, Trudeau outlined a plan for players to be refunded.

Players that took first or second in a qualifying tournament will receive a complete refund and free entry to all, if any, IPT events through 2013.

Players who did not finish in the top two have a choice. They can accept a full refund, and pay entry into any future IPT events. Players can also refuse a refund for free entry into all, if any, IPT tournaments through 2013.

Refunds of qualifier fees are scheduled to be paid in six monthly installments beginning Sept. 30.
Click to expand...

Hey Wendy,

How sad is it that pro players have to struggle as much as they do to make a living at this sport only to have to hope that someday they may actually get paid their winnings.
 
9 Ball Girl said:
Some IPT news from the Billiards Digest home page:

IPT Announces New Schedule for World Open Payments, Qualifier Refunds

Kevin Trudeau, founder of the International Pool Tour, announced in an August 21 open letter to all tour players that all remaining unpaid prize money from last year's World Open 8-Ball Championship will be delivered by December 15.

One year after the tournament event ended with players waiting for their checks, players have received 55 percent of the $3 million promised them by the IPT. According to the new payment schedule, players will receive the remaining 45 percent in four monthly installments. The first checks will be shipped out September 15, according to Trudeau's statement.

"I think a year or 18 months is a very long time," said Tour Director Deno Andrews. "I?ve been lobbying to get the players paid in full by the end of year."

Though the payments should occur "on or about" the 15th of every month, the schedule is subject to change.

?Obviously we?ll see as it progresses, but I?m satisfied that something is on the schedule so that players are being told they will get their money,? Andrews said.

Regarding the hundreds of players who paid significant entry fees to qualifying events for 2007 tournaments, Trudeau outlined a plan for players to be refunded.

Players that took first or second in a qualifying tournament will receive a complete refund and free entry to all, if any, IPT events through 2013.

Players who did not finish in the top two have a choice. They can accept a full refund, and pay entry into any future IPT events. Players can also refuse a refund for free entry into all, if any, IPT tournaments through 2013.

Refunds of qualifier fees are scheduled to be paid in six monthly installments beginning Sept. 30.
Click to expand...

Now that's what I call "prompt payment" of all prize monies, just as advertised by the IPT. This means full payment will be made in the same decade that the tournament took place. I can't wait for the opportunity to stake another player in the next IPT event. Any and all prize money won will be immediately applied to his retirement fund, which will come due after age 65. Helluva deal!
 
Thanks for the info 9 Ball Girl. Its always good to have hope.

I hope KT makes good on his promise this time and the players are paid. I have hope that the IPT, will rise again and this time become the Tour we have all been waiting for. I even have hope that pool will someday be as popular as other sports and be televised just as much.
 
Guaranteed payout implies no cash until a year later with staggered payments.
 
Railbird said:
Hey Wendy,

How sad is it that pro players have to struggle as much as they do to make a living at this sport only to have to hope that someday they may actually get paid their winnings.
Click to expand...
It's unbelievable. Can you imagine the scandal that would develop had this happened in well established sports? Oy!
 
Does it sound too good to be true? Dangle all that money in front of the players. How can anyone possibly lay out all that money? Do they think they will get paid this time? Fool me once....... Then you will have all those players thinking "what if it's true this time". This is the same mentality of lottery players. It could be me this time.
 
When all is said and done it's up to the players if they want to take another chance. And the bankers and room owners for the qualifiers. Johnnyt
 
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