Reno Prize Money Cut

[jimmyg]

My experience with legal disputes and settlements is pretty extensive, and the one thing that I can say with extreme certainty, is that a plaintiff has a much better chance at obtaining a more reasonable settlement while being represented by a qualified attorney than without one.

Remember, litagation costs boths sides money and defendants are generally extremely reluctant to allow juries to decide awards. Larger settlement offers and/or offers of independent alternative dispute resolution options will more likely be offered to the plaintiff's attorney while he is in the process of litagation and will almost always yield better results than accepting offers directly from the defendant.

Jim

 

[suckershot]

I am owed $5K from Reno and Mike is owed $7,495. My 1/3 will be $1666 ($555) and Mike's will be $2496 (1/3 = $832). Plus we were owed $1000 for referrals.

The rest of the money was the minimum of $3k promised to both of us for London, which KT promised he would make up to us, and another $3k (plus whatever Mike could have won) each minimum for the Masters.

BTW, I am getting emails from members saying they are willing to accept the deal if it means the IPT can restructure and go on.

You know, I think a lot of people would like to believe that this would be all fine and dandy. But can you really believe another word that this huckster (KT) speaks? He's promised lots of things; as of Reno, he hasn't delivered on any of them.

I'm not trying to be a jerk here. I'm really asking this: What is the decision to accept the deal contingent upon? I know you said if the IPT can restructure and continue. But I mean, how will you know this, for certain? If KT puts on his best smile and says, "Well, you know, things are on the up and up here. All that stuff that happened before? My bad." I'm really just curious what kind of guarantee that you will get from KT that will be worth anything, because we've seen what his promises have been worth thus far.

I'd said that I thought it would be great for pool if the IPT could continue. Now, I'm not so sure. The hubris displayed by KT was just incredible considering the condition the tour is in now. He talked himself up real big, pushed other tours/events aside, started talking about exclusivity contracts. And now it's all come crashing down. It's too bad.

 

[jay helfert]

And the flip-side is if a player refuses to take the 33% and demands their full payment (assuming they are ever actually given a chance to by the IPT) the IPT could cancel their tour card and ban them from any future open or qualifying events.

IF there is a future for the IPT in 2007, even with a reduced prize fund, they may well still be paying out more for a decent top-half finish than coming first in an event like the US Open. In this case the good players with a decent chance may well take those odds. If they're already qualified it won't cost them anything to try except giving up 2/3rds of something they may never get otherwise.

I feel sorry for any player who would play in a future KT backed event. If they haven't learned their lesson yet, they deserve whatever happens.

Right now, I put the odds on there ever being another IPT event at 100-1. So, it is rather doubtful if the above scenario will arise.

The next major IPT event may be played out in a court of law.

 

[gopi-1]

Jasper, you are either on KT's payroll or just terminally stupid.

I seriously think it's the latter Jay...

 

[jjinfla]

Jake, incase you haven't figured it out, JASPER IS MIGHTY MOUSE!
Purdman

When it is all over you may find out that Jasper is just another person like you with his own thoughts on the matter and in actuality has his tongue firmly planted in his cheek most of the time.

 

[jjinfla]

Check to go out on Monday. If it follows previous history they may go out later and the players may receive them on Friday. Then they will have the weekend to review them.

Of course the checks may not arrive on Friday and this could be just another delaying tactic. The longer he delays, the more time the lawyers spend on the case, the more time they spend the more money they want.

I suggest that if a player receives a check he/she should think back to their gambling days and think of the times they won or lost a bundle and if they ever settled up for less than the amount owed. If they did then cash the check and go on with life.

Let's face facts. In the business world companies are always making deals with debtors to collect on outstanding debts. The collection business is a great success.

Jake

 

[Craig Fales]

And the flip-side is if a player refuses to take the 33% and demands their full payment (assuming they are ever actually given a chance to by the IPT) the IPT could cancel their tour card and ban them from any future open or qualifying events.

Like this carries any weight....after all this that has happened I doubt anybody with a reasonable IQ will go near the IPT....<soon to be defunct anyways...
________

 

[PoolSharkAllen]

Like this carries any weight....after all this that has happened I doubt anybody with a reasonable IQ will go near the IPT....<soon to be defunct anyways...

I was thinking something similar. After the players get paid (in part or in full), there's no incentive for them to participate in future IPT tournaments.

Chances are the payouts for future IPT tournaments will also be cut from previously announced levels. And they still have to deal with the unpredictibility of the IPT.

After the players get paid (in part or in full), if they were smart, they should get away from the IPT.

 

[ScottW]

When it is all over you may find out that Jasper is just another person like you with his own thoughts on the matter and in actuality has his tongue firmly planted in his cheek most of the time.

That's quite interesting that you of all people would say that, considering Jasper has taken up your old spot as the "IPT is God's gift to pool" spokesperson. :/

One might even don one's tin foil hat and propose that you two are the same person, with two accounts, playing both sides.

As far as the IPT having taken in money since Reno, re: filing bankruptcy, and someone going "????" on that - one word - "qualifiers". They're still running, they're still pulling in $2k an entry.

And as a prankster of olden times myself - one of the first things I thought when I started reading this thread is "oh my that would be the HUGEST hoax in pool history". And caller ID *can* be faked.

 

[Island Drive]

I feel sorry for any player who would play in a future KT backed event. If they haven't learned their lesson yet, they deserve whatever happens.

Right now, I put the odds on there ever being another IPT event at 100-1. So, it is rather doubtful if the above scenario will arise.

The next major IPT event may be played out in a court of law.

Yep without players seeing the money in escrow and paying fees upon arrival at an event your probably 110% correct JH. KT's birds are "always" in the bushes and with him its more like a bird in the bush or 5 in flight.

 

[cmssuits]

Sure can be changed...

The number was on his caller ID. That can't be faked.[/QUOTE]


Only because it happened to me. My buddy was cranking me, and getting into my voicemail. You definitely need to keep a password on your voicemail at all times. He was changing his caller ID to my number, calling my voicemail, and since voicemail thought the call was coming from my own phone, it didn't ask for a password. From there he played head games for a week with me.

With a real "phone system" you can change your caller ID to anything you like.

It's not likely in this case, but it's easy to do and I think everyone should be aware.

Donald

 

[Merlinium]

I am surprised noone has tried selling their debts to a collection agency.

I suggest calling 555-webreakthumbs.

In all serious though this is a horrible situation and in the fullness of time we can only hope that the victims of the IPT receive fair compensation.

With regards to the IPT's future I cannot see how it could recover from this kind of damage as what little credibility the organisers had appears to be fading fast.

 

[jjinfla]

That's quite interesting that you of all people would say that, considering Jasper has taken up your old spot as the "IPT is God's gift to pool" spokesperson. :/

One might even don one's tin foil hat and propose that you two are the same person, with two accounts, playing both sides.

.

Oh you are too intelligent for me.

Don't you wish you could give me more bad reps?

Does that make you feel powerful?

Like you are back in grade school.

 

[Big Money]

Obviously KT doesn't follow the history of the game very well.

Five years ago Barry cut the prize fund 20% because the US Open happened at the same time airplanes were flown into the Twin Towers. The players went ballistic.

Now KT thinks he can cut the prize fund by 66% because he is out of play money and the players are supposed to rally around him?

The same players that he insulted in an interview with BD less than two weeks ago?

 

[Beckyzilla]

Sad Situation for Players

This should never have happened. I think KT feels he is immune to anything the players might do. He has more guts than brains at this point. I wish ALL the players very well in this and am pleased that they are uniting.

Beckyzilla

 

[suckershot]

This should never have happened. I think KT feels he is immune to anything the players might do. He has more guts than brains at this point. I wish ALL the players very well in this and am pleased that they are uniting.

Beckyzilla

It almost sounds like he has always had more guts than brains...then again, maybe he is smarter than we think.

 

[jjinfla]

Actually I think it is a requirement in the new bankruptcy laws that he do that prior to filing for bankruptcy.

Maybe one of the lawyers out there can verify that.

Or read the latest article from AARP.

He can offer partial payment to the players or if they refuse it he can continue spending what is left on day to day expenses until it is all gone and the players will get 100% of nothing.

Don't want to ruin your dreams but that is the way I see it from the outside.

 

[professorpool]

I knew the IPT would come through.
It"s looking good for next year now.

Yeah!

I imagine that the $100,000 will still be back on too.

Look out of rthe announcement!

 

[ironman]

I would need to know the name of your friend first for credibility reasons. The reason I say this is because a couple of the players played a very cruel joke on another IPT memeber this afternoon. They called him and said that they had gotten calls and were told they were getting paid. After that player made phone calls to people who also made phone calls to people, (industry wide) the original "paid" players fessed up to the joke.

Not funny at a time like this when people have lawyers working on this very thing. These people are not owed money & they're getting nothing in return for it. They're simply going WAY OUT OF THEIR WAY to help the players get paid and a joke like this was not appreciated by them.

I talked with the one the joke was pulled on and he ain't laughing at all. That could be bad.

 

[Beckyzilla]

Whoever those who pulled this 'joke' could have caused major problems and if they are really IPT members, should have had more sense. They didn't think how they would feel if something like that had been done to them.

I'm just so hoping this joining together to fight KT will somehow work out for the best and they can be paid what they rightly have earned and were promised.

Beckyzilla