IPT- What I Have Been Told
- Thread starter Eydie Romano
- Start date
My call with Danny
Danny Medina just called me. He said he just got off the phone with Sigel. And Mike told him that the IPT had been sold, and they were just waiting on the money to pay the players.
Now Danny absolutely is NOT lying about his call with Mike. Of that I'm certain. He has Mike's home number. That leaves the second question. Is Mike lying to Danny, and why?
Danny Medina just called me. He said he just got off the phone with Sigel. And Mike told him that the IPT had been sold, and they were just waiting on the money to pay the players.
Now Danny absolutely is NOT lying about his call with Mike. Of that I'm certain. He has Mike's home number. That leaves the second question. Is Mike lying to Danny, and why?
HouseMan said:This is being debated for over forty days now. Just because you're late to the party doesn't mean everyone has to slow down to your speed.
Hey, I'll admit that I'm late to the debate party here... but I've got to start somewhere. But to me it seems a little too hot to handle... so I'll just let you guys duke it out 'till the truth comes out.
...And how dare you question my speed... I think we'd better play some, and you can get feel for my speed.
Maybe he said, "The IPT had been sold, but the deal fell through". sometimes there are bad phone connections and the entire message does not get through. It would have been more believable if they would have said "has" been sold instead of "had" been sold. It takes on a whole different meaning when they say had.
Good thing they didn't say "is" being sold.
Jake
Good thing they didn't say "is" being sold.
Jake
Covelo said:Hey, I'll admit that I'm late to the debate party here... but I've got to start somewhere. But to me it seems a little too hot to handle... so I'll just let you guys duke it out 'till the truth comes out.
...And how dare you question my speed... I think we'd better play some, and you can get feel for my speed.
Send me a note if you visit the Balt/DC area.
ironman said:
I assume that someone lied to Mike...
The PHOENIX said:
I agree with this except that the only ones who could dispute the charges are the ones who won spots. Those people aren't receiving the goods promised. The rest of the folks who competed were competing for a spot and as they didn't win then they didn't reach the level to get the product.
Perhaps this is different if it can be shown that there was never an intention to hold the tournaments, nor award any spots or money. In that case there would be definite grounds for charges of fraud and perhaps the chargeback remedy would work.
Eydie Romano said:I am going to state that this information is hearsay to me, because it is, but seems to be valid, and from several very good sources. This information is not meant in anyway what so ever to harm the IPT, it is meant to be helpful information because for whatever reason, the IPT makes statements that information is coming and then it is for not.
I do not know any of this to be a fact, and as I write this, I am shaking my head in disbelief on exactly how to relay in both a positive productive way..
From what I am told, the deal with HO is off. Again, I must reiterate that I have heard this to be hearsay, so I am asking you all to remember this. I am not saying I personally know this to be proof, I am just relaying what I was told by several good sources.
Apparently, the so called unsigned deal with HO and Trudeau was based upon Poker/Internet gaming as a part of the deal. The United States carries 80% world wide of the Internet gaming up till last week when President Bush signed a law into effect against Internet gaming. So, I guess The President of the United States is the cooperate, and the deal breaker.
It is also rumored that there is a standing hatred between Stanley Ho and Steve Wynn. Apparently, Wynn moved one of his properties into Ho's territory some time back and killed a lot of his action, along with offering better placements for employees at his new casino. Ho lost a lot of good employees to Wynn and the feud was ignited. I was told that Ho made it clear to Trudeau that he would have nothing to do with him if Wynn was involved....
This now brings me to the $1,000,000 IPT "King Of The Hill" Invitational 8- Ball Shootout in Las Vegas on December 12-17th, 2006 at The Wynn in Las Vegas, Nevada.
Rumor has it that certain people are scurrying around trying to make room for this event to be piggybacked at Chicago in the November/December Tournament. Unfortunately, this is where I was told that the players would get paid from the Reno event, but it would not be until Chicago. Apparently with Ho bailing (again hearsay) the funds have dried up leaving the IPT in arrears of over $3,000,000. I asked what guarantees would there be that there would be money awaiting for the players in Chicago, but my contact said there was no guarantee and that it could indeed be another stall tactic.
In the recent letter From Mr. Trudeau, it was interesting to see that Mr. Trudeau addressed my question directed to Mr. Andrews regarding Mr. Trudeau making good by the players until the situation with Mr. Ho was resolved. Mr. Trudeau stated "I wish it were as easy as me paying players myself, but this is legally unacceptable at this time"
With Trudeau paying out over $900,000 to The Venetian Hotel and Casino in Vegas and THIS is where a lot of the funds went, and then Trudeau then figuring out all of the hidden costs, he relocated to Reno. Now, we will see what Chicago brings.
So with this being said, there are not winners yet. Especially, Mr. Andrews who I feel will have lost the most.
My personal opinion is that Deno is in a no win situation. He depends on the success of the IPT to support his family, so his livelihood and his reputation is at stake at this.
I want to believe that Deno is just as upset about this latest glitch for all of the factors I have just mentioned. He is and always has been passionate about this sport, and I am sure that he is past embarrassed with all of the excuses that have been given. I really think that it must be extremely difficult for Mr. Andrews, because we are his peers, and Mr. Trudeau could just bail at anytime and be done with it.
I will end this again by stating that I sincerely wish the best for all involved, and I hope that the IPT can pull a rabbit out of a hat.
Eydie- Have you learned anything more on this? Is this still the word?
Nostroke said:
I had an interview with Deno for a story I am writing for AZB last Friday night between 6:00 PM and 7:30 PM. I had a good deal of info, and I was going to finish it over the weekend, but an hour later at 8:30 PM Linda posted the "Champagne Memo" which totally put the story content wayward. Deno never mentioned any of the Champagne Memo content to me during our conversation. His attitude was very pleasant, positive and as informative as I felt he could be.
I was to finish the interview last Saturday, but I elected to wait until Monday to see what happened. Monday has come and gone and I am not sure what if anything else we know. I am going to contact Deno this week to try to finish the content.
I am still being told many different things by different people. I sincerely want to be positive regarding this matter, and have tried to be in the past. All of my contacts are still sticking by their original stories. Please remember that all that I have reported on has been hearsay, which is just that.
With all said and done, KT still has invested (however badly) a astronomic amount of money into this sport, which has never been seen before. I sincerely wish that this tour continues and flourishes.
On a personal note, and what I have said in the past. If this proves to be a failing venture, KT is out 10 Million Dollars, which is more than most people combined have ever seen in a life time. In hind site and IMO, if he had trusted some of the promoters in this industry, and asked for advice this could have turned out much different. Many of us have been doing this for years, Jay, Mike, Me, Mike and others. All of us were, and still are ready to help make this work.
It is everyone's loss if it fails, which is so unfortunate and a travesty indeed.
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Thanks Mrs. Romano
I am in full agreement with you, and I commend you and Thank You for your efforts at keeping us here informed with what you hear ...... KT has stated in no uncertain terms (IMHO) that the players will be issued checks next week...now all we can do is continue to play the waiting game, and try not to think and speak negatively until we know for sure.....
Eydie Romano said:
I am in full agreement with you, and I commend you and Thank You for your efforts at keeping us here informed with what you hear ...... KT has stated in no uncertain terms (IMHO) that the players will be issued checks next week...now all we can do is continue to play the waiting game, and try not to think and speak negatively until we know for sure.....
Yeah, that number may be a bit high. He may have incurred US$10,000,000 in debts, but there is no way to know how many people he has stiffed, and in what amount. The 10mil number comes from KT -- and it would be in his sympathy-generating interest to inflate it as much a possible. It wouldn't be his first gross exaggeration....TheOne said:Hi Eydie, thanks for that, just curious where u got the $10m from?
TheOne said:Hi Eydie, thanks for that, just curious where u got the $10m from?
The 10 Million was a number I was told and then Deno confirmed that to me last Friday. I had questioned the accounting when I spoke with him, and he stated that it was correct.
I am going to hold off on answering anything else until I talk with him again. I just checked my voice messages and there was a message from Deno to call him dated yesterday. Today is my son's birthday, and he is home from school, so needless to say, I am going to finish the day with him and work on this tomorrow.
Have a great day all. I will hopefully have a lot of questions answered this week.
Eydie
I just checked my voice messages and there was a message from Deno to call him dated yesterday. Today is my son's birthday, and he is home from school, so needless to say, I am going to finish the day with him and work on this tomorrow.
Eydie
For God's sake Eydie, get your priorities straight will you ? You have your son home from school, it's his birthday (I assume there's ice cream & cake) and you're going to devote the day to your son instead of calling Deno ? What the hell are you thinking ?
Doug
( I'd call Deno my damnself, but Judge Judy comes on in 3 minutes )
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Eydie
For God's sake Eydie, get your priorities straight will you ? You have your son home from school, it's his birthday (I assume there's ice cream & cake) and you're going to devote the day to your son instead of calling Deno ? What the hell are you thinking ?
Doug
( I'd call Deno my damnself, but Judge Judy comes on in 3 minutes )
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Eydie Romano said:
Well, if both KT and Deno said it was 10M, then we know for sure it was much less. My guess is he laid out about 4 to 5M and took in 1 to 2M. He took a shot, didn't like it, and is ready to pull up.
The 3M he is out probably came from Natural Cures money.
jay helfert said:
I think you're being generous Jay but I wouldn't say by much. I suspect he owes much of the money he's short, the question is will he ever pay everyone. Of course if you included the Reno prize money plus all the qualifier travel/hotal costs he might be getting closer to 10m. But I think he's actually less then $1m out of pocket and for that he's had a ton of TV exposure for his Natural Cures and he owns a back catalogue of hundreds of hours of pro pool matches not to mention a website and IPT merchandise etc.
We have no idea how much his Natural Cures sales increase by the IPT but given the amount of money it would have cost him to get that much TV exposure I doubt he's lost anything at all.
However faced with a $3m cash payout for Reno PLUS 2 Closed Entry events (no qualifier cash) PLUS KOTH I think he $hit his pants and has been searching for a way out since he cancelled London.
Since he is permanently barred from doing pitches on TV --- for life -- the only way to get his smarmy mug on the tube at all has been the IPT events he "co-hosted."TheOne said:
His commentaries were the most vapid BS I think I've ever heard -- "I do believe they call that "humping the table", is that right Mike?"