"The Checks are in the mail." Oh Dear...

[jay helfert]

The same thing happened at the NA open in Vegas. All the players as far as I know received their checks within a week or so after the event.

Why is it so hard for some to understand that the IPT is a BUSINESS. Essentially, they have a couple of hundred employees who need to be paid, yet nobody know how much the check will be until the very last minute when the players are eliminated. Payroll processing is a function of any business. Pay needs to be calculated for each employee, taxes and various deductions need to be calculated, or if the employees are "contractors", other information needs to be recorded. Then the checks need to be printed and signed before distribution. I wouldn't be surprised if the entire payroll process takes 2 or 3 full days to be completed.

Everyone got paid from the last tournament, and I see no reason to believe they won't be paid for this one. I do not see how this can be considered to be the beginning of the end for the IPT. If the checks don't get mailed out, or if they start bouncing, that would be the time to be concerned. I am still amazed at how many people keep looking for something bad to happen to the IPT. It looks to me like it is the best thing to happen to professional pool in my lifetime. I'm sure Efren won't mind waiting a few days for his half million!
Steve

On some other 'small' pro tours like the PGA and ATP, players are paid the day of the match. There is a tent or trailer set up for this express purpose. Or players can opt for the money to be wired directly into their bank accounts. There is NO check in the mail.

You are just another "excusemeister" for what I see as obvious attempts to delay all outgoing payments as long as possible. In Banking terms, this is known as "kiting" the money.

 

[jay helfert]

From your lips/keyboard to my ear, lol. All I remember is that the players expected to be paid on Sunday. The full players meeting can be downloaded now from the IPT site, so you can check. I think they said if we weren't going to stay, then we could appoint someone to pick them up for us.

It could be that all the extra headaches of those graduated payments knocked everyone for a loop. I am giving them the benefit of the doubt.

You've been giving them the "benefit of the doubt" from day one Linda. And called me to task when I waited over a month for a stinkin' five grand, and finally complained about it.

 

[ironman]

You've been giving them the "benefit of the doubt" from day one Linda. And called me to task when I waited over a month for a stinkin' five grand, and finally complained about it.

Heeeeee's baaaack!!!

 

[ironman]

I'm going to the store for a case of buttered popcorn and a small can of beer...

Doug
(it's going to be a bumpy flight)

You have the right idea!!!

 

[DaveK]

I was the highest Payroll manager for a muti-company multi-locations company with over 5,500 employees at the time, so I am familiar with all the facets of Payroll, ...

This isn't a payroll. The IPT members and other players are not employees. I don't think your experience applies, and I would expect you to understand the difference between an employee and a contest winner.

If they said they'd pay at the end of the tournament and then changed their payout time people have a valid complaint, imo. I went to find these prior announcements at the IPT site and was greeted with several "we're updating so no content today" type messages (the Q&A is gone for example).

I think you can reduce growing pains by not shooting yourself in the foot, the IPT should try this.

Dave

 

[rossaroni]

Well put Nostroke. I hope everyone gets paid, but don't make it a guessing game. Someone said something about Efren ok with waiting for his check. I think Efren may be the most nervous one about the check in the mail. After all, he is getting 350,000 more then anyone else. Jay knows better then me, but I think you can either get cash or a check at the WSOP. And the winner of that received 12 million!

 

[onepocketchump]

This is pretty crappy. After all one of the big "selling points" was that the players would get paid at the end of each round. Kevin says this clearly at the players meeting in Orlando and in interviews prior to that tournament.

I will never watch or support another IPT event in any fashion if there are ANY problems with the players getting paid. Making them wait around all week is also inexcusable after Kevin's promises.

John

 

[TheOne]

This is pretty crappy. After all one of the big "selling points" was that the players would get paid at the end of each round. Kevin says this clearly at the players meeting in Orlando and in interviews prior to that tournament.

I will never watch or support another IPT event in any fashion if there are ANY problems with the players getting paid. Making them wait around all week is also inexcusable after Kevin's promises.

John

Suprised but agree John, I doubt the players wont get paid but this is something that always frustrated me at some events.

We all remember KT saying that he "finds it amusing" when asked when the players would get paid, "at the end of each tournament of course", I remember reading this in the Q&A section of the website which DaveK pointed out has vanished!

 

[wahcheck]

Wsop

Well put Nostroke. I hope everyone gets paid, but don't make it a guessing game. Someone said something about Efren ok with waiting for his check. I think Efren may be the most nervous one about the check in the mail. After all, he is getting 350,000 more then anyone else. Jay knows better then me, but I think you can either get cash or a check at the WSOP. And the winner of that received 7.5 million!

If I'm not mistaken, the 2006 WSOP main event 1st prize was $12 million....and I read somewhere that it was being held back by the casino because there is a lawsuit pending by somebody who was supposed to get 1/2 of the money from a prior agreement with the winner.....

 

[rossaroni]

If I'm not mistaken, the 2006 WSOP main event 1st prize was $12 million....and I read somewhere that it was being held back by the casino because there is a lawsuit pending by somebody who was supposed to get 1/2 of the money from a prior agreement with the winner.....

Woops! I was thinking about last year. First I heard about the hold out. But I know up until now, you could get the winnings in cash, although I heard no winner ever took that option to get paid it all in cash. However, I doubt Moss got paid by check the first year. They must have been talking about when first reached one million or so.

 

[jay helfert]

Well put Nostroke. I hope everyone gets paid, but don't make it a guessing game. Someone said something about Efren ok with waiting for his check. I think Efren may be the most nervous one about the check in the mail. After all, he is getting 350,000 more then anyone else. Jay knows better then me, but I think you can either get cash or a check at the WSOP. And the winner of that received 12 million!

At the WSOP you get paid immediately after being eliminated. You can get cash, a check or casino chips (believe me 5K chips take up less room in your pocket than $100 bills).

I won 35K, 14K and 42K at the last three WSOP. I got cash each time in minutes, not days or weeks.

 

[rossaroni]

At the WSOP you get paid immediately after being eliminated. You can get cash, a check or casino chips (believe me 5K chips take up less room in your pocket than $100 bills).

I won 35K, 14K and 42K at the last three WSOP. I got cash each time in minutes, not days or weeks.

I'll have to see for myself about that Jay! However, I wouldn't mind either one in my pocket.

 

[ironman]

At the WSOP you get paid immediately after being eliminated. You can get cash, a check or casino chips (believe me 5K chips take up less room in your pocket than $100 bills).

I won 35K, 14K and 42K at the last three WSOP. I got cash each time in minutes, not days or weeks.

LMAO!!!!! You"re killing me!!

 

[JimmyB500]

What about the folks that were not planning on going home after the tournament, but were heading out to another spot or the west coast?? Some needed money to pay for motel, partners, people they bet with etc. etc. etc. They may not be flat broke, but broke in their pockets because they didn't bring that much with them. To me this is the worst thing they have done.......

 

[TheOne]

What about the folks that were not planning on going home after the tournament, but were heading out to another spot or the west coast?? Some needed money to pay for motel, partners, people they bet with etc. etc. etc. They may not be flat broke, but broke in their pockets because they didn't bring that much with them. To me this is the worst thing they have done.......

Interesting point, I was once paid by a USA cheque after winning some cash at a tournament in Asia! I was told I could cash this cheque at "any US bank" or at my own bank account in England, I was on the road at the time with no plans to leave Asia for another month. I got some help but still had to wait to cash the cheque!

 

[vgodley1]

Not everyone got paid from the Vegas tourney!!!

Hey guys,

I was hesitant to bring this up but I know one person, who was a "sponsor", or "Requester", I forget the exact name but there was an official IPT form that was filled out for this when you submitted your player for the Vegas tourney if he qualified. He was supposed to be paid 10% of the amount of money won by the player he put in. As of last Friday, he still has not received any funds and is fairly upset and very disappointed about it. It was not that great an amount of money but still over a grand and he has been told repeatedly that he would be receiving it shortly.

I personally believe they will pay him, and I would never have mentioned this on here except for reading this thread and learning that they have changed the terms of the game on the players. This is cause for pause.

I only wish and hope that the IPT will honor all their obligations past and present, and not have people held out and becoming frustrated as Jay described he experienced in previous threads. Note that I am very pro IPT, I want it to succeed, but it does seem that they are taking a real risk of loosing credibility when they change rules mid match, change payment terms, and the like.

The IPT's first season is the start of a potentially very good thing, don't screw it up!

Regards,

Vee

 

[Island Drive]

Pool players have been burnt so much in the past, there is no trust, what are yo all gonna say when there is a logical answer and you all get paid?

 

[ironman]

Pool players have been burnt so much in the past, there is no trust, what are yo all gonna say when there is a logical answer and you all get paid?

What took so long?

 

[Nick B]

Lube Up. More is coming...

Attention IPT Disciples! Lube up. More is coming. Once the cash from from all the dreamers stops and they start to cancel more qualifying tourneys (aka funding channel) the news will get worse. I think for now everyone will get their cash. What's to come is almost automatic. I'm unsure whether KT, Mr. H or anyone else will fund a unsustainable business.

I point to Professional Men's Snooker in the UK. A top flight (Top 5) pro could see himself earn 500K a year. This is a well run, mature enterprise with everything going for it. Attendance, TV, Sponsorship, Real mass appeal Superstars (ask any grandmother walking down the streets of London who Steve Davis is) and they can't throw around the kind of money IPT does. Before someone spouts off...yes they have had their problems but even with the loss of Tobacco money they still are able to hold world class events and get on PRIME TIME TV.

I think the most that the "Pool Community" could support is maybe a tour that had say 8 events the size of the WPC. Lets just examine the numbers for a second. AZBilliards has a membership of about 5000.
1. How many of those 5000 would or did buy the IPT membership package?
2. How many other communities like AZB exists to fund aforementioned?

If I was playing in the IPT I would always be awaire of the fact that this might be my last check. I hope my friends who played get theirs?

 

[rackmsuckr]

You've been giving them the "benefit of the doubt" from day one Linda. And called me to task when I waited over a month for a stinkin' five grand, and finally complained about it.

OK, Jay, the benefit of the doubt exists because I know there were changes in payouts that I know probably caused havoc with their intended promises. No matter what tour you run, changes happen that are different from your initial intent. I know first-hand that some are inevitable.

The better part of valor for the IPT is maybe not give out any information beforehand and then they don't crush anyone's expectations. I am not denying that some players are in a pickle due to delayed payments.

As far as everyone paid the day of a tournament, I get a check from the BCA Regionals and Nationals as well as our NW regional tour. Most all other tournaments pay cash, but I don't think that is really professional because there needs to be an accounting of payouts and without issuing checks, there can be shadier deals happening that what you are thinking. Any tour with a running succession of tournaments needs to keep a tight handle on accounting.

Regarding your late payments, I have not brought up the other side of things and neither did the IPT, but it was not all one-sided. It wasn't even for what you won, but what a player of yours won and I am not privy to all the details, but being a second tier for payment probably delayed things initially.

I thought this was all in the past, Jay. You even apologized publicly. So you needn't berate me, especially on my birthday, lol. I would like to know what the official line is before I go getting upset...therefore, I am giving them the BENEFIT OF THE DOUBT.