I was talking to Greg Sullivan about a rough idea he had that I think in theory is pretty interesting. Reading JB's thread got to me thinking more about it and I decided it needed its own thread so as not to derail his so here it is:
In broad strokes:
What if there was a market where a player could enter and say "I an interested in a stake for XYZ event."
At that point any interested investors could bid on the the percentage they would stake that player for. People would bid by saying what percentage they would expect of any winnings.
Player A is a multiple US Open winner.
Player B is a strong regional player coming up.
Both put in to get staked for the US Open 10 Ball in July.
People bid on the percentage to put them in.
Player A is popular and an established star. He may very well get people bidding to put him in for very little percentage just as form of support or to feel a part of the event. Say the winning bid is 20% for Player A. Meaning he gets the entry paid and keeps 80% of winnings.
Now its not so rosy for Player B. He is the dark horse but you might get one guy or a corporation to decide for the right price they would take a shot so they bid 75%. Now if Player B accepts then he can only win 25% of whatever payout he gets. Not so fun BUT it could very well Player B to play in some events he otherwise never would.
An interesting thing to me is this could have the side effect of generating sponsors for lack of a better word. If a company could have a shot at a liquid return on a sponsorship it might entice them to put more money behind players instead of another ad in a magazine.
Obviously there would be lots of details and pitfalls. But we all know people who like to have a little something to sweat at a big event. I think that there is an actual possibility for something in this idea if it were to hashed out and managed right. It could be kind of exciting to see. Basically a player stock market.
My view on some basics:
The player would be responsible for all travel. Everyone has to get work.
If a player no show's or doesnt pay out the agreed upon amount he is out of the market forever.
There is no "off the top" for the backer. Its a straight percentage cut of the winnings. Everyone knows staking is no good as an investment. This whole enterprise is to generate excitement and interest in players and events with backers/sponsors having a chance to make a little back.
It could all be run through AZ or a stand alone site if they are not interested. Whoever runs it could opt to charge a fee to players or bidders for using it but I think making it free to all is the only way it could work.
There would have to be some means of arbitration and contracts I think.
I realize the chances are slim something like this would ever get off the ground but I do think it is interesting and if done correctly by the right people could work and offer players a way to soften the blow of expenses and fans a way to be invested in events.
Opinions?
In broad strokes:
What if there was a market where a player could enter and say "I an interested in a stake for XYZ event."
At that point any interested investors could bid on the the percentage they would stake that player for. People would bid by saying what percentage they would expect of any winnings.
Player A is a multiple US Open winner.
Player B is a strong regional player coming up.
Both put in to get staked for the US Open 10 Ball in July.
People bid on the percentage to put them in.
Player A is popular and an established star. He may very well get people bidding to put him in for very little percentage just as form of support or to feel a part of the event. Say the winning bid is 20% for Player A. Meaning he gets the entry paid and keeps 80% of winnings.
Now its not so rosy for Player B. He is the dark horse but you might get one guy or a corporation to decide for the right price they would take a shot so they bid 75%. Now if Player B accepts then he can only win 25% of whatever payout he gets. Not so fun BUT it could very well Player B to play in some events he otherwise never would.
An interesting thing to me is this could have the side effect of generating sponsors for lack of a better word. If a company could have a shot at a liquid return on a sponsorship it might entice them to put more money behind players instead of another ad in a magazine.
Obviously there would be lots of details and pitfalls. But we all know people who like to have a little something to sweat at a big event. I think that there is an actual possibility for something in this idea if it were to hashed out and managed right. It could be kind of exciting to see. Basically a player stock market.
My view on some basics:
The player would be responsible for all travel. Everyone has to get work.
If a player no show's or doesnt pay out the agreed upon amount he is out of the market forever.
There is no "off the top" for the backer. Its a straight percentage cut of the winnings. Everyone knows staking is no good as an investment. This whole enterprise is to generate excitement and interest in players and events with backers/sponsors having a chance to make a little back.
It could all be run through AZ or a stand alone site if they are not interested. Whoever runs it could opt to charge a fee to players or bidders for using it but I think making it free to all is the only way it could work.
There would have to be some means of arbitration and contracts I think.
I realize the chances are slim something like this would ever get off the ground but I do think it is interesting and if done correctly by the right people could work and offer players a way to soften the blow of expenses and fans a way to be invested in events.
Opinions?
