Timberly said:
the non-payment is due to the Ho deal.
Which brings up another point. Is this HO deal a reality, or just a bluff? I don't believe KT can openly claim that the IPT is being sold or that they've made a deal with Ho without his consent. Then again, Ho is a criminal himself.
Here's the possibilities:
1] The IPT is sold, and Ho wants nothing to do with the current style and pool in the US and wants to make this heavily Asian dominated. Conveniently for KT, he's found a prime opportunity to DUMP the IPT which he's been struggling to convince people of it's profitability. Thus, payouts to players are a no-go since the IPT has ceased to exist. He's off loading it and is just buying time with BS promises.
2] Ho, for some sort of benefit I have no idea, has allowed the use of his name in a fake deal in a last ditch attempt to make the IPT appear like a winning business model which would then appeal to a massive host of sponsors, which in turn, would then make the IPT profitable. He's used this strategy in the IPT. Part of the IPT strategy was to use huge prize money to try and attract attention the way Poker did. Likewise, if they can sling huge $150million dollar figures around, it will get the attention of sponsors and investors.
3] The deal with Ho has gone sour, the IPT is not profitable - and KT is delaying and buying time hoping the TV show will bring in money.
That's about it for the conspiracy theories - lol.
I don't believe the IPT can be profitable right now. I'm no billionaire businessman, but c'mon. For some reason, I don't buy this whole massive ratings BS on Versus. Like it or not, it's still POOL and it hasn't erupted. When I hear people talking about pool at restaurants and parties...then I'll agree. It doesn't even get the attention it did with the KOTH in pool rooms, where they have 100% pool fans.
The qualifiers are dismal at best.
I doubt the internet subscriptions are doing that well either - the content is minimal, and quite frankly, I don't think the word has gotten out about it. To make matters worse, it seems to me that the pool-fans are a little stone-age when it comes to this stuff. They're not like the fans of other sports or games that are more tech savvy and would try that out. Most people at my pool hall can't even turn on a PC. About 1/2 the people I talk to didn't even know a Reno tournament happened......
I don't think anyone is running out and buying the IPT dvd's. They suck. Production is great, but how long can you sell Sigel?
The cloth is pathetic. No one wants that garbage. The amateur cloth is just a simonis wannabe and everyone's got simonis already. Hey, not bashing Gorina, but it's not something revolutionary to make everyone want to switch over.
No one in pool rooms likes the Sardo.
The IPT balls are horrible. They in no way compare to the Super Pros. These are cheap balls with high luster made by Aramith for maximum IPT profitability. They look good, but they suck.
No one is running to buy Diamond tables because of the IPT. Diamonds sell themselves. That's a fact.
The IPT never targeted for tournament attendance, but regardless of that, attendance was weak.
Initially, they made some money by selling the cloth and balls and sardos to rooms that wanted to host qualifiers. And the IPT always favors new rooms because that's new revenue, yet on their lists...it's the same places over and over. They've saturated the market. That plan is over.
Just because you see a Party Poker or Emerson logo doesn't mean the IPT is making big money from that. No one knows how much they paid for it, or what the deal was. Sometimes advertising is not as expensive as you think. It's about exposure, and the IPT on Versus is not exactly the same exposure has having a logo on the canvas of a heavyweight championship boxing match.
Virtually everywhere I look, there's DOUBT about the profitability of the IPT. There's not one aspect of the IPT where you can say, yes - 100% they're making a killing there! Not one area.
The IPT is fun. I love the idea and the excitement it can bring. However, I just don't see it delivering. Maybe it's just me. I want it to succeed, but when I see failure to pay players for a month, and nothing but gibberish coming from the IPT....it has to make you wonder.
How did they go from "100 sponsors lined up" and "150 million dollar sale" to can't pay $3million for the last tournament? Doesn't add up.
