What is added money in the eyes of the WPA?

[srs314]

I will start by saying this is in no way an issue I have with the US Open. I am using it as an example of what I've seen over and over again. I was wondering if anyone knew how this all worked.

In light of the WPA announcement that only events that are $100,000 added would count in their ranking system what is the definaition of added money. In the case of the US Open they took in about $141,000 in entries and added just over $70,000, having a total prize fund of $213,000. Not the $250,000 prize fund advertised on their site which does not say based on a full field.

In this case if you take away the $100,00 added you get $113,000 in entry fee money which averages $475 / player of the $600 into the prize fund. Again I am not saying in anyway they are not totaly entitled to make money and cover costs I just want to know the rules.

I want to know how the WPA is going to work the rule of over $100,000 added. An example is I could have an event with a $100 entry and take $40 from each entry for administration. Does this entitle me to advertise a $8000 prize fund and claim to be adding $2000, and keep the other $2000?

 

[Johnnyt]

The US Open flyer said bases on a full field of 256. Johnnyt

 

[srs314]

The US Open flyer said bases on a full field of 256. Johnnyt

Fair enough, I only looked at the front page of their site which did not say that. I still hope someone can answer my question.

 

[Nostroke]

I will start by saying this is in no way an issue I have with the US Open. I am using it as an example of what I've seen over and over again. I was wondering if anyone knew how this all worked.

In light of the WPA announcement that only events that are $100,000 added would count in their ranking system what is the definaition of added money. In the case of the US Open they took in about $141,000 in entries and added just over $70,000, having a total prize fund of $213,000. Not the $250,000 prize fund advertised on their site which does not say based on a full field.

In this case if you take away the $100,00 added you get $113,000 in entry fee money which averages $475 / player of the $600 into the prize fund. Again I am not saying in anyway they are not totaly entitled to make money and cover costs I just want to know the rules.

I want to know how the WPA is going to work the rule of over $100,000 added. An example is I could have an event with a $100 entry and take $40 from each entry for administration. Does this entitle me to advertise a $8000 prize fund and claim to be adding $2000, and keep the other $2000?

Not to mention the currency fluctuation issue.

One small thing not partiularly germane to your point. Barry pays the entry fee of all past champions, rightflly counting it as added money.

 

[Jerry Forsyth]

added money

I will start by saying this is in no way an issue I have with the US Open. I am using it as an example of what I've seen over and over again. I was wondering if anyone knew how this all worked.

In light of the WPA announcement that only events that are $100,000 added would count in their ranking system what is the definaition of added money. In the case of the US Open they took in about $141,000 in entries and added just over $70,000, having a total prize fund of $213,000. Not the $250,000 prize fund advertised on their site which does not say based on a full field.

In this case if you take away the $100,00 added you get $113,000 in entry fee money which averages $475 / player of the $600 into the prize fund. Again I am not saying in anyway they are not totaly entitled to make money and cover costs I just want to know the rules.

I want to know how the WPA is going to work the rule of over $100,000 added. An example is I could have an event with a $100 entry and take $40 from each entry for administration. Does this entitle me to advertise a $8000 prize fund and claim to be adding $2000, and keep the other $2000?

Scott,

I never realized you had such a devious mind! Dammmnnnn. That's pretty good thinking there. I guess Canadian winters give you a lot of time to think. But, to me, 'added money' is just that, 'added'. So promoters should not be allowed to pull the shenanigans of which you speak. I would think that the definition might be: "Added money is that portion of the prize fund which is supplied by sources outside of the playing field and may never consist of entry fees, greens fees, administration fees or any other such fees or charges as may be levied to the participants."

Now, and I gotta ask: Can you get around that? Cause I'm just really curious what you might come up with here.

Hope to see you soon, Scott. And I hope the coming season is good to you and good luck with Shooterville.com. - Jerry

 

[srs314]

Scott,

I never realized you had such a devious mind! Dammmnnnn. That's pretty good thinking there. I guess Canadian winters give you a lot of time to think. But, to me, 'added money' is just that, 'added'. So promoters should not be allowed to pull the shenanigans of which you speak. I would think that the definition might be: "Added money is that portion of the prize fund which is supplied by sources outside of the playing field and may never consist of entry fees, greens fees, administration fees or any other such fees or charges as may be levied to the participants."

Now, and I gotta ask: Can you get around that? Cause I'm just really curious what you might come up with here.

Hope to see you soon, Scott. And I hope the coming season is good to you and good luck with Shooterville.com. - Jerry

I totaly agree with your definition but I've seen too many posters and websites done to promote tours and events claiming added money.

If I host an event with 32 players and the entry is $100 / player. On my poster I put $500 added based on full field.

32 players show up, now would the prize fund paid to the players need to be $3700 in order to match what I advertised? Or could I take a $25 administration fee / player without mentioning it?

What is needed to meet the WPA's requirement of adding $100,000? Is there also a requirement for a minimum percentage that can be taken for administration.

 

[Jerry Forsyth]

My definition

Scott,

No, not without mentioning it. If you advertise $500 in added money, that would have to be $500 over and above the entry fee amount. So, in your example, you would have to offer $3700 in prize money.

Of course, these opinions I state are mine only. I am not a policy-maker on these issues, but it just seems obvious that no player organization would allow promoters to play fast and loose with the entry fees.

I agree that we have both seen 'shady' things happen in smaller tournaments, but the large ones, the ones that get a lot of press, are generally pretty good. These promoters know that the players can and do add up the numbers and they need the players to be happy if they want them to return year after year.

Where promoters can and should make their money is from soliciting sponsorship of the event. If I advertise added money of $50,000 and I am able to solicit sponsorship above that amount, then I can take the extra sponsorship money as profit and still live up to the expectations of the players and fans.

The IPT had a logical formula for success. They would pay out big money to the players and collect even bigger money from the TV shows they created. It just did not work because they could not generate the sponsor and TV fees that they had envisioned (to the best of my knowledge) and so they were paying out more than they were taking in and that business model is obviously unsustainable.