I wonder if it would make any sense at all to have all the money together when the tournament started. That would most likely be to easy and to fair to the players which without them there would be no tournament.
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World 10 Ball Silence
- Thread starter pro9dg
- Start date
Didn't Efren get to hold a brief case full of cash after he won the famous IPT event.
He didn't get to hold it for long before it was taken away and then he had to wait a couple of years to actually get his hands on the money again!!
This proves that "seeing is not always believing"
He didn't get to hold it for long before it was taken away and then he had to wait a couple of years to actually get his hands on the money again!!
This proves that "seeing is not always believing"
Exactly how we operate our events and that's why we cannot release a final announcement for the 2009 WPC because we only had 50% of the total projected capitalization at the time. Not having 100% available when the event starts is just begging for a lot of problems to pop-up.$TAKE HOR$E said:
Thanks for the confirmation Doug although we already did suspect that it was just hot air. Suspecting too that his hot air is what sorta gave the other guys in his group the confidence to proceed. That'll be sad if he doesn't back his mouth with the cash that he flaunts when things start going bad.pro9dg said:
Please let them know that the next time they come to DC, I WANNA PAR-TAY!pro9dg said:
correct me if I'm wrong. but from what I know, if you organize a sporting event, you must have the necessary funding and prices ready. I guess this is the 2nd time that I saw and heard of an event where they still have to come out and produce the supposed prize money, 2 weeks after the event. this is somewhat a loaned event if I were to call it. with all of the available staff and technological and monetary resources that Yen has within his palm, surely it would only take a day to give and wire those prize money to those 200 participants.
surely, the participants should had been given a cashier's check on the final day of the event, if the organizer really had money. and a week after for an ordinary check inorder to be cleared.
anyway, this is what I was afraid about right from the start. I hope those foreigners got paid, most especially the champion of the event. otherwise it would be nothing more than a waste.
surely, the participants should had been given a cashier's check on the final day of the event, if the organizer really had money. and a week after for an ordinary check inorder to be cleared.
anyway, this is what I was afraid about right from the start. I hope those foreigners got paid, most especially the champion of the event. otherwise it would be nothing more than a waste.
Hail Mary Shot said:
I think it depends on the event, the sport, the sanctioning, and the laws governing the location where the event is being held as to whether the prize money must be secured prior to the event.
In essence a sporting event is a contract between the performer and the promoter. The promoter accepts a fee for participation and promises to pay if the performer performs to a predetermined level. If the promoter doesn't pay then it's essentially a civil contract matter at that point with jurisdiction in the area where the event took place.
I think it's probably quite rare for fringe sports like pool to be putting tournament money in escrow prior to the event. In larger sports there are powerful sanctioning bodies which are responsible to their players and who probably make damn sure that the promoter doesn't fire a huge air barrel.
I am honestly not sure if the WPA sanction includes having the prize fund escrowed. Probably not.
JB Cases said:
I see. I felt bad for the participants already, not to mention the refs. if the event was only done for free and there was no promise of any money, that would had been ok. but since it was not, oh well, so sad. they should had made and called it an exhibition games between players rather than a real championship.
I'm not hoping that this would turn out to be a KT protege event.
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Jerry Forsyth
Well-known member
Payments scheduled for the 21st.
We were told in Manila by the promoters and again this week that payments would commence via bank transfer on October 21. It is my understanding that the players were told this as well and that this is similar to the payment lag time for past World Championships. So let's all try to keep our fingers off the panic button for another week. Thus far, nothing unexpected has occurred.
We were told in Manila by the promoters and again this week that payments would commence via bank transfer on October 21. It is my understanding that the players were told this as well and that this is similar to the payment lag time for past World Championships. So let's all try to keep our fingers off the panic button for another week. Thus far, nothing unexpected has occurred.
Jerry Forsyth said:
lol, you are definitely right about that. I can't believe anyone would actually expect to get paid AT a pool tournament venue anymore.
Jerry Forsyth said:
is there any article or released public statement coming from the organizer regarding this info? as far as I knew, whenever an allegation or issue against the organizers surfaces out, they usually come up with an answer or an alibi in the newspapers or any publications the next day. I'm just wondering why this kind of an issue is kept under the shadows, eventhough it's not the big of a deal, or is it?
Something UNEXPECTED has happened - players have not been paid!
As far as I am aware the responsibility to pay out prize money prior to the WTBC has been vested in Matchroom, not Raya Sports. This has always been done during the event or immediately after the final.
There is no precedent for the delay in WPC9 events.
What purpose would it serve Raya Sports to pay the players now any way.
The stage has been set. Take the money and run could be the final act!
In the Grand Scheme of Things, 128 people from the pool community will not seem too important. Deja Vu perhaps!
As far as I am aware the responsibility to pay out prize money prior to the WTBC has been vested in Matchroom, not Raya Sports. This has always been done during the event or immediately after the final.
There is no precedent for the delay in WPC9 events.
What purpose would it serve Raya Sports to pay the players now any way.
The stage has been set. Take the money and run could be the final act!
In the Grand Scheme of Things, 128 people from the pool community will not seem too important. Deja Vu perhaps!
Jerry Forsyth
Well-known member
Past payouts
You must have attended different WPC's than I. The past WPC's payouts have been done by wire transfer after the event just as Raya is doing.
You must have attended different WPC's than I. The past WPC's payouts have been done by wire transfer after the event just as Raya is doing.
Rick S. said:
Kinda like the entire IPT, all smoke and mirrors.
:grin:
Jay paid one player he said and Jay was reimbursed right away with no problems, the player went 2 and out I think and got $950. Now if every player who didnt make it to the single elimination stage(round 4 i think) that adds up to alot of $$$, like $60,000 so atleast that was paid, I believe the jury is out til Oct 21, the delay is understandable as they need time to collect $$$ and reconcile the books. So I'm not passing judgement, lso because there is so much disdane about this group and slanderous comments have little validity.:grin: big fancy words day
Jerry Forsyth said:
Jay paid one player he said and Jay was reimbursed right away with no problems, the player went 2 and out I think and got $950. Now if every player who didnt make it to the single elimination stage(round 4 i think) that adds up to alot of $$$, like $60,000 so atleast that was paid, I believe the jury is out til Oct 21, the delay is understandable as they need time to collect $$$ and reconcile the books. So I'm not passing judgement, lso because there is so much disdane about this group and slanderous comments have little validity.:grin: big fancy words day
Integrity is the key factor among tournament organizers/producers.
The reason why Matchroom Sports is a tough tournament to "buy" is because the host country pays in advance. Now this payment includes the prize money, so before any WPC tournament commences, the prize money is guaranteed. There is integrity and this integrity affords postponements or cancellations if needed be. To have the prospects of profit overtake integrity sent off alarms way before the WTBC.
This is a business approach. If Raya's approach was such, it was what they sold and some people bought it. For whatever reason they sent off a tournament of this magnitude (financially and in impact to the sport) is their own business, but the system by which they implemented and presented to us was what we were criticizing.
Ian Andersen has to come out with an explanation in his WTBC guarantee payments and in having put icing on the tournament by announcing a bonus. He has to explain his motives and motivation in having done such.
As to Yen Makabenta, I am sure that he is trying his best to meet his obligations. Again, it was a tournament that he sold and people bought it.
In hindsight, there is nothing wrong and insulting to tournament producers if they will be required to come up with an escrow account to guarantee the prize money.
The reason why Matchroom Sports is a tough tournament to "buy" is because the host country pays in advance. Now this payment includes the prize money, so before any WPC tournament commences, the prize money is guaranteed. There is integrity and this integrity affords postponements or cancellations if needed be. To have the prospects of profit overtake integrity sent off alarms way before the WTBC.
This is a business approach. If Raya's approach was such, it was what they sold and some people bought it. For whatever reason they sent off a tournament of this magnitude (financially and in impact to the sport) is their own business, but the system by which they implemented and presented to us was what we were criticizing.
Ian Andersen has to come out with an explanation in his WTBC guarantee payments and in having put icing on the tournament by announcing a bonus. He has to explain his motives and motivation in having done such.
As to Yen Makabenta, I am sure that he is trying his best to meet his obligations. Again, it was a tournament that he sold and people bought it.
In hindsight, there is nothing wrong and insulting to tournament producers if they will be required to come up with an escrow account to guarantee the prize money.
