Ipt Sold?

Tom In Cincy

Tom In Cincy

AKA SactownTom
Silver Member
Rumor mill generated the latest.

KT has sold 51% of the IPT to an Oriental firm for $65 Million.

This may endup being the REAL International Tour with just one or two stops in the USA....

Don't ya just love to hear rumors like this? :D
 
If rumors turn out to be true, and my sources are correct, he sold it to EUROSPORT.
In the sources words, "How strong is THAT, he took a nothing tour, turned it into something (still remains to be seen), and sold it for millions..."

If it IS true, it would be interesting to see if Sigel gets a cut.
 
Seems pretty simple to me. Would you pay 60+ million (let alone 250+) to own half of the IPT? Neither would I.
 
a upa pro told me the same thing. Thought most events were going to be in asia. What exactly did this guy buy?
 
KT is smart, I'm betting he sold only 49.99% and kept 50.01%:D

Honestly at this point I don't see that kind of money, still too early, plus this tour will go through money fast in the next few years.

I'm sure he is making deals, but not selling a majority stake, nobody is paying 60+ million for the IPT. First if said business had 60+ million to invest in pool, then they could have just as easily done the same thing as KT and started an Asian tour with 12 million a year prize money for 4+ years.

I'm sure something will happen, some kind of a partnership which will have said business paying part of the prize money over the next few years, something like Nike did with the Nike tour. Most likely the European and Asian qualifiers/tournaments will be headlined by a company.

like say, The Eurosport IPT 8-ball Open Championship or Eurosport IPT European 8-ball tour or The San Miguel IPT Asian 8-Ball Open Championship.

I can see all the tournaments being branded this way, this will help pay part of the prize money. But I would be amazed if he sold a majority stake, minority stake maybe.
 
I heard the same rumor, and its origin came from a player who heard it from another player who heard it from another player. When the IPT was contacted, the rumor was just that, a rumor. :o

Hearsay isn't a good basis to go by. If, in fact, shares of the IPT have been sold, it will only mean the IPT tour has acquired monies to keep it strong, which is GREAT, IMHO.

Currently, some IPT members and qualifier competitors have been contacted by an agent who believes in the IPT's mission. Now players who didn't have the funds to follow the tournament trail in the past are guaranteed an income to pursue their dreams as well as the prospect of future sponsors.

The N.A. 8-Ball Championship next month is going to be a MAJOR event which is sure to bring excitement and thrills to diehard pool fans and players alike. Those who are attending can't wait for it to get started.

JAM
 
I think the better rumor would be that the IPT is going public and shares will be sold on the NASDAQ right after the July tournament.

Jake
 
jjinfla said:
I think the better rumor would be that the IPT is going public and shares will be sold on the NASDAQ right after the July tournament.

Jake
Click to expand...

Of course that means full disclosure of the business and value-setting is in the hands of the market. Also, there are a lot of additional Government regulations on publicly traded companies. Do you think this is how the IPT wants to go ?

Dave
 
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