US Open 9 Ball prize fund--explained for simpletons

[jay helfert]

I think that this is still not set for a fairy tale ending yet. We can presume that 113 of the 128 players will pay their thousand dollars each and with a waiting list it seems plausible that this figure could easily rise to 120 paid players.
This would create a revenue of $120,000 and we have no reason to doubt that this will end up in the account that PF has relating to US Open entry money.
Now, in order to be classified and confirmed as a (non World title) second tier event there must be a sum of $75,000 which must be added to the provisional $120,000 calculated. This means that the gross prize fund that is available is now $195,000.

But according to the original publicity on the event they are only committed to pay out $188,000. But the whereabouts of the $75,000 still is not crystal clear It may have been raised but is it actually completely under the control of Pat. The cost of administrating the event is substantial . WHERE DO THE FUNDS FOR THAT COME FROM? The big financial picture is still fuzzy. I am concerned because I have funded entry fees into this event. Yet I don't feel confident that all is well. Some of this derives from the fact that if there is surplus entry money due to ex winners not taking up their free spot and someone from the waiting list gets in. We have now been told that this surplus will be added to the prize fund. I would be more at ease if it went in to the event cost fund making it a business decision. But the die is cast now and we must wait and hope that my concerns are groundless. But......

Please Doug, why do you persist in stirring the pot when all these questions have been answered here multiple times. I guess you just have it in for Barry for whatever reason. It's obvious to me that you have a personal vendetta against him for some reason.

Pat has ALL the entry fee money and ALL the added money in a bank account that he alone controls! Why don't you contact him with your questions or do you just prefer to post negativity on here over and over again about the U.S. Open?

I talked with Pat yesterday (yes we talk often) about the extra prize money from additional entries. It looks like rather than adding it to the existing prize payouts, he will pay it out to people who finish 49th-64th, if that is okay with you Doug. It may only amount to a couple of hundred dollars each but it's better than nothing and a little something to help with their expenses.

Pat's only concern is the prize money. All other costs are borne by Barry, including my pay.

 

[pro9dg]

Jay
Let me assure you that I have no personal vendetta against Barry. I have never met him. Until this week many aspects of the tournament have been shrouded in mystery but we have been enlightened somewhat on ABR.
I have great respect for the heritage of the US OPEN and I will be delighted if the event can continue to be supported in the manner that it has been this week. It goes without saying that your contribution to this has been significant.

 

[cueman]

I could be mistaken but I think the main question being raised is whether or not entry fee money can be counted as " added money". ( per wpa rules )
If not, then the 15 paid entries shant be used toward the 75k....
Right?
Please correct me if I'm wrong.

It is all semantics. What you have here is $75,000 added and 15 people playing for free. That is really what is happening and that would meet anyone's definition of added money. They may not like it that he lets past champions play for free, but it has been that way for a long time.