PDA

View Full Version : Future IPT Payment Delays Force Players To Unite



9 Ball Girl
11-06-2006, 08:22 AM
It's about friggin' time.

The continuing story of the International Pool Tour and the delay in payment from September's World Open 8-Ball Championship took another turn late Friday when players started receiving phone calls from the IPT explaining that the $3,000,000 prize fund was going to be reduced to $1,000,000 and paid out over three monthly payments. It was explained to the players that this was not a proposal, but simply a decision made by IPT management with no reason given...

www.AZBilliards.com (http://www.azbilliards.com)

That'll show "them" to underestimate pool players.

Fran Crimi
11-06-2006, 08:43 AM
Smorg's IPT singalong is a classic.

Camp Granada IPT style (http://forums.azbilliards.com/showthread.php?t=45521)

Go here, scroll down and click on the music while you're singing.

music (http://www.musiclegacy.com/Pages/hellomudda.htm)

nAz
11-06-2006, 08:43 AM
That'll show "them" to underestimate pool players"

they pussies if they take it, they should ban together and try to file some kinda class action suit against the IPT and KT.

Rich R.
11-06-2006, 09:07 AM
<blockquote><font class="small">Quote nAz:</font><hr> they pussies if they take it, they should ban together and try to file some kinda class action suit against the IPT and KT. <hr /></blockquote>That seems to be what they are doing, however, one legal opinion on AZB seems to be, if they don't take the offer, they may end up with nothing.
Although the players may win a legal battle, which could take years, after attorney fees, not much will be available for the players. The IPT would also have the option of filing bankruptcy, and nothing would be available.
I have no idea about the legality of all of this, but it is certainly a very bad situation.

killerstroke
11-06-2006, 09:38 AM
Has anybody else noticed the increased infomercieals KT is doing for his second book of 'Natural cures'? I have seen him doing TV, answering questions in an interview type setting. I bet I have seen this about every day for the last week or so.

9 Ball Girl
11-06-2006, 10:05 AM
Fran, thanks for the music link!

Fran Crimi
11-06-2006, 10:26 AM
<blockquote><font class="small">Quote killerstroke:</font><hr> Has anybody else noticed the increased infomercieals KT is doing for his second book of 'Natural cures'? I have seen him doing TV, answering questions in an interview type setting. I bet I have seen this about every day for the last week or so. <hr /></blockquote>


Yes, I've noticed them too. There seems to be a big push going on.

Fran

maddogvinnie
11-06-2006, 01:15 PM
He needs to raise some cash fast.

MrLucky
11-06-2006, 05:55 PM
<blockquote><font class="small">Quote 9 Ball Girl:</font><hr> It's about friggin' time.

The continuing story of the International Pool Tour and the delay in payment from September's World Open 8-Ball Championship took another turn late Friday when players started receiving phone calls from the IPT explaining that the $3,000,000 prize fund was going to be reduced to $1,000,000 and paid out over three monthly payments. It was explained to the players that this was not a proposal, but simply a decision made by IPT management with no reason given...

www.AZBilliards.com (http://www.azbilliards.com)

That'll show "them" to underestimate pool players. <hr /></blockquote>

<font color="green">Its really a good thing this is happening ! I was hoping they would unite and fight this ! together they have some clout. Good News out of a very bad situation! </font color> I /ccboard/images/graemlins/frown.gif

MrLucky
11-06-2006, 05:57 PM
<blockquote><font class="small">Quote killerstroke:</font><hr> Has anybody else noticed the increased infomercieals KT is doing for his second book of 'Natural cures'? I have seen him doing TV, answering questions in an interview type setting. I bet I have seen this about every day for the last week or so. <hr /></blockquote>

<font color="red"> He has even more money to afford them now. </font color> /ccboard/images/graemlins/mad.gif

pooltchr
11-06-2006, 07:52 PM
<blockquote><font class="small">Quote killerstroke:</font><hr> Has anybody else noticed the increased infomercieals KT is doing for his second book of 'Natural cures'? I have seen him doing TV, answering questions in an interview type setting. I bet I have seen this about every day for the last week or so. <hr /></blockquote>

I would rather see him answering questions in an interview setting on 20/20 or 60 Minutes!!!!!!
Steve

DickLeonard
11-07-2006, 08:05 AM
Naz that is a great idea except for one thing. If you sue the IPT the lawyers become first in line and the players second. Then that million would go to the lawyers and the players would get 2/3s of nothing. As a non licensed practicing Attorney I think waiting till they default on the new arrangement would be in the players interest. Once they default on that arrangement then sue but realizing that the only winners will be the lawyers if they can collect. You might find that getting Lawyers to sue could be extemely difficult. It is very easy to create bills to the ordinary operation of the daily business/salaries etc to wipe out that million they are talking about.

Remember the Simpson/Goldman families are still waiting for their Judgement to be paid but to no avail.####

MrLucky
11-07-2006, 10:05 AM
you are right between the lawyers logging hours up and the accountants tallying the money up ! And KT's astute and well honed ways of hiding the money, the players would wind up with little to nothing in the end! /ccboard/images/graemlins/frown.gif and that would be probably years from now if then!

TCIndepMo
11-11-2006, 12:39 PM
Good points from all.

I am not a lawyer (thank God) but if, so far, no money has changed hands doesn't this mean the players do not YET owe any taxes on these winnings? Doesn't this mean the IRS is being denied it's 20-30-40% cut of the total payout? If KT got a letter from Uncle Sam saying "pay the players so we can get our share or the IRS will sue you for that 20-40% we are being denied" might the money magically appear from somewhere?

Getting even a dozen of these players to agree on anything is never going to happen. Except, of course, for that so far unspoken topic for which KT's 24 hour personnel bodyguards would have to be alert! But if Efren and Rodney split the cost of a good lawyer to sue for their loins share and listed the IRS as an interested party to such a suit it might get interesting. Forty percent of $3 million would pay for a lot of MREs for the boys on patrol in beautiful, downtown Bagdad.
Certainly might generate more fodder for boards like this one. LOL.

HELLO to "big brother". Are you watching this circus?

sheesha
11-12-2006, 06:11 AM
You cannot file Bankrutcy if there is proof of fraudulent or intent to fraud charges involved.Any amounts owed to someone cannot be dismissed if fraud was involved.The players have a great case on their hands and will be protected under that guideline.Any other debts could be dismissed where monies owed but the players monies owed to them can be proven with the fact KT knew he did not have the funds to pay them from the beginning and still allowed the event and qualifiers to continue.Many areas that the players can prove Fraudludent/Intent to Fraud occured here.