gee09 said:
Ever since I did a post with a letter from Renee Sigel and her thoughts on what's happening, I have received mountians of emails, PM's and calls from players who have not been paid for several events...
Post Here If You Got An IPT Check Today!!!!
- Thread starter Purdman
- Start date
Ever since I did a post with a letter from Renee Sigel and her thoughts on what's happening, I have received mountians of emails, PM's and calls from players who have not been paid for several events...
As far as I was aware, all the players were paid for the KOH and the Las Vegas event.
Eydie Romano said:
Hi Eydie... wow. If the players continued to play in events without receiving payment from the prior ones, I just don't know what to say.
This whole situation makes me sick to my stomach. Not so much for the players who made the $5,000, although that's bad too. I know it will pay for expenses and such, but for the players who did really well, it's just so awful. There is a NY player who would be owed $92,000. To some degree, that's life-changing money. It's at least enough for someone without a family to live off for a year, though perhaps not extravagantly.
And then the rug gets pulled out. All I can think of are those assenine birthday presents that your "friends" give you - those fake scratch-off lottery tickets that say you've won $10,000. You scratch it off, see you've won, then your friends tell you it's not true. "Haha. Where's the nearest oven so I can put my head in it?"
I can't imagine, after everything these players have gone through over the years, and after all they've given to this tour, that they might end up getting screwed again. It's very, very sad.
I'm now not as certain as I was even last week that the players will get paid. But if they do, any excuse the IPT gives for the lateness is going to be pure and unadulterated nonsense. Unless, of course, the excuse is that they didn't have the money.
I know this: I don't believe a word that comes out of KT's mouth, and anyone who does needs his head examined. This is the 2nd time he has claimed to have sold the IPT, the 2nd time it appears to be untrue, and the numbers just keep getting sillier. Anyone who understands the most basic concept of money knows he's just making s*** up.
"National accounting firm" "62 million" "No sponsors other than me" "150 million" "Major network prime-time TV time" "corporate appearances" "100k guaranteed next year" and my personal favorite............. "retirement accounts and health insurance".
Sickening. At this point, I don't care if the players get paid or not. We've all seen how the IPT will act when things aren't going so well - which is to say, no information, no apologies, nothing. They've lost all credibility with me and I would have to see another full year's worth of successful tournaments before I trusted them again.
- Steve
Steve Lipsky said:
Good post Steve, the signs have been there for sometime now. The killer for me was when they increased the WO entry by $500 with zero explanation, at the last minute AFTER players had bought into the qualifying concept and signed up to the first event.
People argued that they didn't need the $500 extra dollars and the events cost millions to stage, I think this is a myth which the whole model relies on. If the IPT didn't need the extra $500, a poultry amounnt of cash they wouldn't have taken the PR hit.
I beleive that KT has cut deals to cover most of the costs of holding the events via sponsorship and his plan was to cover the prize money via qualifiers - this hasn't happend and the $hit ahs hit the fan. The question now is, does he have a plan B - I sure hope so!?
Last edited:
Hi Jimmyg. I agree with every word in your post. Clearly though, a "meeting of the minds" certainly exists when A) specific prize money is posted on the IPT web site and B) the players showed up and played their matches.
What seems clearly in doubt is the requried TIMING of those payments. Absent any promise of IMMEDIATE payment...and I don't know whether any such promise was or was not made...then "reasonableness" would control (under the implied covenant of good faith and fair dealings that is imposed on all contracts) and what is reasonable, at the end of the day, is up to the finders of fact to decide...i.e. a judge or jury.
There is no way IMHO that a "delay" of a few weeks or even a couple of months would be found to be unreasonable per se, however objectionable such timing may be to those who are awaiting payment.
In any event my hope is for the best possible outcome for both the IPT and the players.
What seems clearly in doubt is the requried TIMING of those payments. Absent any promise of IMMEDIATE payment...and I don't know whether any such promise was or was not made...then "reasonableness" would control (under the implied covenant of good faith and fair dealings that is imposed on all contracts) and what is reasonable, at the end of the day, is up to the finders of fact to decide...i.e. a judge or jury.
There is no way IMHO that a "delay" of a few weeks or even a couple of months would be found to be unreasonable per se, however objectionable such timing may be to those who are awaiting payment.
In any event my hope is for the best possible outcome for both the IPT and the players.
av84fun said:
Hi Av84fun, My reference to "meeting of the minds" was actually referring to the $100,000.00 IPT/KT annual payment guarantee.
That being said, at this point, I think the players and vendors that are owed money should be consulting their individual attorneys. I believe that lawsuits and potential legal judgements for monies owed are on a first filed, first paid basis and it may be wise to take that into any consideration before to much more time passes.
TheOne said:
I think that the raise of the entrance fee for the W.O. was logical, cos also the prize money was 50% bigger.
Originally the fee was announced to the be same for every qualifications concerning the Opens, but like it's said many times, IPT is a new thing, and there is/will be many changes in the plans/rules on the way - if it is necessary. There's too many things to be concerned for them, so changes truly are understandable.
Why I never felt your concern about the raise was important, was that IPT has in other cases many times given much more than they have promised, so it wasn't 'a lie', IMO, like you stated it in the first place.
For example they gave huge bonuses in the qualifications (bank 8-ball for 1000$, run 5 racks for 5000$...) free entrances + chances to earn them, and they also increased the prize money for the 'Members Only' -tournaments (270 000$/tournament), and took the entrance fee away, etc..
I know this is not so actual anymore, just trying to give a point of view for this 'increase of W.O.Q. entrance fee -matter'.
Marvel said:
If you recall correctly I didn't say it was a lie, I asked the question eg "?"
You can dress it up all you like but not only was it advertised on the website for a YEAR, it was also in magazine articles and on an audio speech. This was increased a) without explanation or comment, and b) after the 1st of two qualification tournaments. In addtion many people had sold the concept to players based on the price being 1k each, this made those people look like liars.
The point is if the IPT had come out and said hey we're putting the entry up because....and all those who have already entered the 1st tourny will only have to pay the same Im sure many people wouldn't have been so shcoked by it.
Its about how you handle the changes that makes the difference but this topic has been thrashed to death already.
<<I believe that lawsuits and potential legal judgements for monies owed are on a first filed, first paid basis >>
I don't think that is correct jimmyg. The only advantage I am aware of for first filers is choice of venue and that is a matter between the plaintiff and defendant not a matter between Plaintiff A and Plaintiff B.
Filing first also presents the chance of obtaining a final judgment before any other plaintiff but there is no guarantee that the first suit will proceed to judgment before the secone suit etc. Some lawyers, judges, lawsuits move at different paces.
I don't want to get too deeply into this because I am not an attorney (though some think I should be!!) and because I really hope for all concerned that it doesn't get to that point.
Regards,
Jim
I don't think that is correct jimmyg. The only advantage I am aware of for first filers is choice of venue and that is a matter between the plaintiff and defendant not a matter between Plaintiff A and Plaintiff B.
Filing first also presents the chance of obtaining a final judgment before any other plaintiff but there is no guarantee that the first suit will proceed to judgment before the secone suit etc. Some lawyers, judges, lawsuits move at different paces.
I don't want to get too deeply into this because I am not an attorney (though some think I should be!!) and because I really hope for all concerned that it doesn't get to that point.
Regards,
Jim
Hmmmm....maybe the real question is: "If a check is dropped on a plush carpet and there's no one around to hear, does it still not make a sound?" Or: "If a check for a large amount bounces off a plush carpet and no one is around to witness it, is it still rubber?" Okay, okay, one more: "If a check for a large amount is dropped but doesn't actually make it to the plush carpet, did anyone get paid?"Flex said:
lol
lol
Yeah...and if a canoe is rolling down a hill, how many pancakes will it take to fill a dog house in the rain?
Kerry Impson said:Hmmmm....maybe the real question is: "If a check is dropped on a plush carpet and there's no one around to hear, does it still not make a sound?" Or: "If a check for a large amount bounces off a plush carpet and no one is around to witness it, is it still rubber?" Okay, okay, one more: "If a check for a large amount is dropped but doesn't actually make it to the plush carpet, did anyone get paid?"
lol
Yeah...and if a canoe is rolling down a hill, how many pancakes will it take to fill a dog house in the rain?