My predictions for the IPT
- Thread starter rackmsuckr
- Start date
No.rackmsuckr said:Well, 2-4 have come true. But #1 is the lynchpin for everything else, so hopefully, that will come true as well.
Just an aside to the rest of the forum...assuming the whole $3M fund comes in at different times with partial funding, do you think it would do the IPT more good to pay all us 'cheapies' off first and get the most bang for the buck, as far as # of players affected, or pay the top 5-6 first and get those huge burdens paid off? (And the Filipino Mafia reassured!)
I think they need to pay everything they owe to the players. SOON !!!!!
If they don't do this, it would be hard for the IPT to continue.
They say they will pay you all in full soon. Lets see if they do.
I sure hope they do.
Personally I think the IPT will be around for another YEAR 
I think they've been stalling for time to rake in enough cash to pay Reno from the qualifiers and are probably close. Even if they don't have all the cash I'd expect them to start sending out cheques over the coming weeks.
This will probably result in complete euphoria and the IPT will have bought some time. They than have about 4 months to raise enough cash for Chicago, I wouldn't be surprised if they tried to roll all the outstanding events into 1 or canceled one of the events to save costs.
If they can some how raise the funds to hold this event they will have bought even more time, and no doubt people will be bursting with excitement and the qualifiers will be bulging at the seems.
In summary all KT has to do is:
a) Raise the funds to cover one more event in the next 4 months.
b) Land a major sponsor or sell the tour to fund 2007 events within the next 9 months.
Still quite possible as he surely is a great salesman and there's plenty of rich fools around.
I think they've been stalling for time to rake in enough cash to pay Reno from the qualifiers and are probably close. Even if they don't have all the cash I'd expect them to start sending out cheques over the coming weeks.
This will probably result in complete euphoria and the IPT will have bought some time. They than have about 4 months to raise enough cash for Chicago, I wouldn't be surprised if they tried to roll all the outstanding events into 1 or canceled one of the events to save costs.
If they can some how raise the funds to hold this event they will have bought even more time, and no doubt people will be bursting with excitement and the qualifiers will be bulging at the seems.
In summary all KT has to do is:
a) Raise the funds to cover one more event in the next 4 months.
b) Land a major sponsor or sell the tour to fund 2007 events within the next 9 months.
Still quite possible as he surely is a great salesman and there's plenty of rich fools around.
In view of some other posts in respect of the relevance of qualifier event revenue,one more time folks:-
A reliable estimate of tour card qualifier estimated total entry fee income for IPT from all 66 events (326 runners) so far is.........
50% of 326 x $2,000/- ........ $326,000/-
An estimate (no longer very reliable due to the increased uncertainty of how many players will actually purchase new entries following the recent revelations....so is realistically now at best a maximum estimate) of the likely further revenue to come from the remaining 34 events is.......
50% of 168 x $2,000/-.......... $168,000/-
Therefore only approx 11% of the due Reno prize money has been earned so far in tour card event entry fees and only 16% maximum is likely to be earned by the time the qualifiers are finished.
These estimates are gross therefore take no account of credit card company commissions nor the fact that payment to IPT by the credit card companies is not immediate.
However,much more important than the relatively small amount of revenue earned in this way IMHO is the principle that in no way whatsoever would it be "right" for tour card qualifier revenue earned after Reno to be handed over to Reno prize winners.This money is easily and clearly identifiable as having been raised after Reno and as having nothing whatsoever to do with Reno.
A reliable estimate of tour card qualifier estimated total entry fee income for IPT from all 66 events (326 runners) so far is.........
50% of 326 x $2,000/- ........ $326,000/-
An estimate (no longer very reliable due to the increased uncertainty of how many players will actually purchase new entries following the recent revelations....so is realistically now at best a maximum estimate) of the likely further revenue to come from the remaining 34 events is.......
50% of 168 x $2,000/-.......... $168,000/-
Therefore only approx 11% of the due Reno prize money has been earned so far in tour card event entry fees and only 16% maximum is likely to be earned by the time the qualifiers are finished.
These estimates are gross therefore take no account of credit card company commissions nor the fact that payment to IPT by the credit card companies is not immediate.
However,much more important than the relatively small amount of revenue earned in this way IMHO is the principle that in no way whatsoever would it be "right" for tour card qualifier revenue earned after Reno to be handed over to Reno prize winners.This money is easily and clearly identifiable as having been raised after Reno and as having nothing whatsoever to do with Reno.
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memikey said:
Not sure about your numbers but I actually went through them one by one and added them all up, total approaching $2 million dollars several weeks ago (so probably another few hundred k to add on)
http://forums.azbilliards.com/showthread.php?t=43928
TheOne said:Not sure about your numbers but I actually went through them one by one and added them all up, total approaching $2 million dollars several weeks ago (so probably another few hundred k to add on)
http://forums.azbilliards.com/showthread.php?t=43928
If your numbers are correct then the IPT is at least $1,423,000 in the red.
It will be much more when you take into account the expenses for putting the events on.
TheOne said:Not sure about your numbers but I actually went through them one by one and added them all up, total approaching $2 million dollars several weeks ago (so probably another few hundred k to add on)
http://forums.azbilliards.com/showthread.php?t=43928
I was pretty clearly only talking specifically about the 66 events held recently as 2007 tour card qualifiers and the balance of 34 events still to be held in the next 3 weeks or so in completion of the series of 100 events which leads to the 200 qualifier 'winners' for the 2007 tour card event proper originally scheduled for December.
The reasons I was only talking about them are because they are what was being discussed in respect of qualifier income in this thread and because all revenue from the previous series of other types of qualifiers (I don't doubt your figures on that) has clearly long ago been spent on other things and is therefore irrelevant to the subject of paying out percentages of Reno prize money from qualifier money which is again "what were discussing in this thread"......keep up in class,what are you hiding under your desk Master Riley,photos of scantily clad round announcers,eh? eh? eh?
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memikey said:I was pretty clearly only talking specifically about the 66 events held recently as 2007 tour card qualifiers and the balance of 34 events still to be held in the next 3 weeks or so in completion of the series of 100 events which leads to the 200 qualifier 'winners' for the 2007 tour card event proper originally scheduled for December.
The reasons I was only talking about them are because they are what was being discussed in respect of qualifier income in this thread and because all revenue from the previous series of other types of qualifiers (I don't doubt your figures on that) has clearly long ago been spent on other things and is therefore irrelevant to the subject of paying out percentages of Reno prize money from qualifier money which is again "what were discussing in this thread"......keep up in class,what are you hiding under your desk Master Riley,photos of scantily clad round announcers,eh? eh? eh?
Ugh, I'm sorry I added 1 + 1 and got 2, I don't know where you're getting your numbers from but if they make you feel better then I can live with that. (psss KT didn't tell you did he?
)I think somebody else said they've taken approx $500k in the last month alone?
no more photos for you, you're fired!
jjinfla said:
Yep that was the interesting thing about the figures. KT as much as confirmed several knowledgeable estimates on this board that it probably cost about 300k to put on an event when he quoted the $700k to host the two events. Of course we don't know:
a) How much he's made from sponsorships, equipment sales, online sales.
b) How much he has actually paid to his creditors!
Forgot who but somebody hinted that Diamond are one of the biggest losers so far. To me that suggested that maybe Diamond either a) provided the tables for free in return for being official sponsor, or b) are still owed lots of cash!
I would still be very surprised if he's actually spent more than a million of his own cash.
rackmsuckr said:
Hi Linda,
What are the details about European players being paid recently?
Colin
TheOne said:Ugh, I'm sorry I added 1 + 1 and got 2, I don't know where you're getting your numbers from but if they make you feel better then I can live with that. (psss KT didn't tell you did he?
I think somebody else said they've taken approx $500k in the last month alone?
no more photos for you, you're fired!
These numbers aren't complicated. I am only talking about the series of 100 qualifying events for a 2007 tour card.These started on Sept 15th and will finish on Nov 27th.There are no other qualifying events in that period. Where did I get the figures? I've explained this before but for another slightly different worded explanation,see below:-
* 326 runners in 66 tour card 2007 tour card qualifying events held so far between Sept 15th and Oct 29th.At those 66 events a total of 165 free entries were handed out.Entries are averaging slightly less than 5 runners per event and free entries handed out are averaging 2.5 per event.
* Assuming the same averages are maintained for the balance of 34 events still to come there will be 326/66 x 34 = 168 further runners in those 34 events(but possibly less given recent revelations)
* Assuming the free entries handed out continue to average 2.5 per event a further 85 free entries will be handed out in those 34 forthcoming events.
* Assuming all free entries are used over the 100 events (some runners in the first 2/3 weeks of 2007 tour card qualifier events will have used free entries won in previous competitions qualifying events and those free entries handed out in the last week of the 2007 tour card events in late Nov won't be used so these two sets roughly cancel each other out for the purpose of these estimations) it means that out of 490 total runners in the current series of 100 tour card qualifying events between Sept 15th and Novenber 27th there will be approx 250 runners who have played on free entries.
* The approximate revenue from the 100 qualifying events held between Sept 15th and Nov 27th in connection with 2007 tour card qualifying will therefore eventually be very approximately 490 - 250 = 240 x 2,000 = $480,000 IMHO it cannot conceivably be more than that.
I have no opinion and have never done any calculations on other qualifier entry incomes from other previous events and have no reason to dispute your estimations....but they're not relevant to what we were discussing when I brought up the above in this thread.
Clear now?
Can I have my inspection job back please lol?
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Perfectly. Now, onto the real question. If a train leaves Elk Grove Village, IL heading west at 40 mph, and another train on the same track leaves Reno, NV at the same time and travels east at 60 mph, where will the trainwreck occur?memikey said:Clear now?
cuetique said:Perfectly. Now, onto the real question. If a train leaves Elk Grove Village, IL heading west at 40 mph, and another train on the same track leaves Reno, NV at the same time and travels east at 60 mph, where will the trainwreck occur?
Unless the respective train drivers are too focused upon making trivial tannoy announcements to the passengers they should be able to see the very brightly coloured and highly visble warning signals at the side of the track in time to take evasive action,at the very least by jumping from the trains as they lose speed and doing a commando roll down the embankment to safety,probably never to be seen again
memikey said:These numbers aren't complicated. I am only talking about the series of 100 qualifying events for a 2007 tour card.These started on Sept 15th and will finish on Nov 27th.There are no other qualifying events in that period. Where did I get the figures? I've explained this before but for another slightly different worded explanation,see below:-
* 326 runners in 66 tour card 2007 tour card qualifying events held so far between Sept 15th and Oct 29th.At those 66 events a total of 165 free entries were handed out.Entries are averaging slightly less than 5 runners per event and free entries handed out are averaging 2.5 per event.
* Assuming the same averages are maintained for the balance of 34 events still to come there will be 326/66 x 34 = 168 further runners in those 34 events(but possibly less given recent revelations)
* Assuming the free entries handed out continue to average 2.5 per event a further 85 free entries will be handed out in those 34 forthcoming events.
* Assuming all free entries are used over the 100 events (some runners in the first 2/3 weeks of 2007 tour card qualifier events will have used free entries won in previous competitions qualifying events and those free entries handed out in the last week of the 2007 tour card events in late Nov won't be used so these two sets roughly cancel each other out for the purpose of these estimations) it means that out of 490 total runners in the current series of 100 tour card qualifying events between Sept 15th and Novenber 27th there will be approx 250 runners who have played on free entries.
* The approximate revenue from the 100 qualifying events held between Sept 15th and Nov 27th in connection with 2007 tour card qualifying will therefore eventually be very approximately 490 - 250 = 240 x 2,000 = $480,000 IMHO it cannot conceivably be more than that.
I have no opinion and have never done any calculations on other qualifier entry incomes from other previous events and have no reason to dispute your estimations....but they're not relevant to what we were discussing when I brought up the above in this thread.
Clear now?
Can I have my inspection job back please lol?
ok ok, I have to admit I read the first line then gave up (oh and the last!
I much prefer pretty pictures.
We don't of course know for sure if he's spent past qualifier revenue but I am still convinced the current qualifier revenue will be used to pay Reno debts. If your excrement addition is correct then sadly players will be waiting a while longer than I expected.
ironman said:
wow, there you go folks, what a deal that was for the IPT, actually WOW!!!
Now who was that poster slamming me in the costs thread and quoting millions for setting up the tables alone?
If he's got a great deal like that from Diamond, he hasn't paid the ref's yet, I wonder what deal he got from the casinos? Hmmm, remember that mandatory meeting that 100+ had to fly around the world for?
Anyone still think KT is stuck for $10m?