PDA

View Full Version : IPT Paying the Players



jjinfla
03-06-2007, 05:09 AM
I read on another site that a player says he received another check from the IPT. Another 11%.

So that would make 44% of the money owed being paid out.

This is like an annuity. Every month the mailman brings the players a check. At least it keeps them from going out and losing all their winnings at once.

Now that I think about it this would have been a perfect way to structure the IPT. All payouts would be stretched out over 12 months. It would be almost like a real job. What a novel idea.

Hey, let's face it, we all made mistakes in our lives, Kevin isn't such a bad guy, he's trying to pay what he owes, can't we forgive him and give him a chance?

Did Barry ever make good on what he owed Danny?

Jake

Rich R.
03-06-2007, 07:38 AM
<blockquote><font class="small">Quote jjinfla:</font><hr> Did Barry ever make good on what he owed Danny? <hr /></blockquote>
Barry doesn't owe Danny.
Brady is the one who owes Danny.

HarryDC
03-08-2007, 06:34 AM
<blockquote><font class="small">Quote Rich R.:</font><hr> <blockquote><font class="small">Quote jjinfla:</font><hr> Did Barry ever make good on what he owed Danny? <hr /></blockquote>
Barry doesn't owe Danny.
Brady is the one who owes Danny. <hr /></blockquote>

Hey Jake,

I know a player who got paid also!

It makes no difference! Kevin, Barry, Brady all the same! Keep them in front of you. LOL /ccboard/images/graemlins/shocked.gif

HarryDC

jjinfla
03-08-2007, 11:19 AM
Well 44% is a lot better than zero percent. That's what Danny got. A week after Reno that's what all the IPT players thought they were going to get. Zero. Nada. Nothing.

That turns the 3 Million dollar tournament into a one million 320 thousand dollar paid out tournament.

So far.

A pretty nice tournament.

Far bigger than any other tournament that I have heard of.

Too bad KT didn't start out with a $100,000 tournament and keep raising it by $50,000 each month. The players would have been overjoyed and he would have received a lot more press everytime he added $50,000. KT would have had a lot more fun for his money. LOL.

Jake

eg8r
03-08-2007, 01:21 PM
[ QUOTE ]
Well 44% is a lot better than zero percent. That's what Danny got. A week after Reno that's what all the IPT players thought they were going to get. Zero. Nada. Nothing.

That turns the 3 Million dollar tournament into a one million 320 thousand dollar paid out tournament.

So far.

A pretty nice tournament.

Far bigger than any other tournament that I have heard of. <hr /></blockquote> A sucker is born every minute. I am sure you would not be this cheery about getting screwed out of 56% of your paycheck if you were the one stuck having to wait for the dead beat billionaire to pay up.

eg8r

kyle
03-08-2007, 02:27 PM
I'd have an issue with the IPT web site advertising the money as if it was paid out in full.

jjinfla
03-08-2007, 06:18 PM
<blockquote><font class="small">Quote kyle:</font><hr> I'd have an issue with the IPT web site advertising the money as if it was paid out in full. <hr /></blockquote>

They are not the only ones doing that.

Technically, that is what they won. They just haven't received it yet.

jjinfla
03-08-2007, 06:37 PM
<blockquote><font class="small">Quote eg8r:</font><hr> &lt;/font&gt;&lt;blockquote&gt;&lt;font class="small"&gt;Quote:&lt;/font&gt;&lt;hr /&gt;
Well 44% is a lot better than zero percent. That's what Danny got. A week after Reno that's what all the IPT players thought they were going to get. Zero. Nada. Nothing.

That turns the 3 Million dollar tournament into a one million 320 thousand dollar paid out tournament.

So far.

A pretty nice tournament.

Far bigger than any other tournament that I have heard of. <hr /></blockquote> A sucker is born every minute. I am sure you would not be this cheery about getting screwed out of 56% of your paycheck if you were the one stuck having to wait for the dead beat billionaire to pay up.
eg8r <hr /></blockquote>

Dead beat billionaire? Hell, I wish I was his pal. If you think he is dead beat you have no idea of what you are talking about.

I think the players who actually played for him will say that they were treated pretty well and when all is considered they made out like bandits.

Did anyone else ever do something so nice as he did for the Hall of Famer's?

43 players really had a chance to score big in Orlando.

200 players really had a chance to score big in Vegas.

Even Reno isn't all bad. How can you look at what now was a $1,320,000 tournament and say the players got screwed?

Life is way too short to always look at the negative side of things.

I'll bet everyone of those players who competed in Reno are looking forward to receiving a check in April and actually I am sure they all wish all the naysayers would just shut up before you really Pi## off KT and he stops sending checks.

Jake

Rich R.
03-08-2007, 07:29 PM
<blockquote><font class="small">Quote jjinfla:</font><hr> Even Reno isn't all bad. How can you look at what now was a $1,320,000 tournament and say the players got screwed?<hr /></blockquote>
Jake, Reno would have been a great tournament and everyone would have been happy, if they had been promised a $1,320,000 tournament. However, the fact is that they were promised a lot more money than that and, until the total amount is paid in full, the players can consider themselves "screwed". In fact, IMHO, they should also be paid interest on this money, but I don't expect that to happen.

I wanted the IPT to be a huge success, as much as anyone. Unfortunately, they have come up short and they will have to earn back, the trust of the players and the fans. I hope all money due, will be paid in the near future and everyone can move on.

mantis
03-08-2007, 10:46 PM
Obviously mistakes were made. However, no one has even attempted to do what he was trying to do for pool. Why would he want to purposefully "screw" the players from the start. Poor overall buisness? Sure. However, because of him, many players made more this year, than the leading money winner of any previous year. He could have just filed bankruptcy. Also, he is still trying to make it a success. Given his attempts to keep the going and pay the players the money, I think he deserves a closely watched 2nd chance.

Ralph S.
03-09-2007, 01:57 AM
If KT is worth all this money, then why is he having such a hard time coughing up the cash????

eg8r
03-09-2007, 04:05 AM
[ QUOTE ]
I think the players who actually played for him will say that they were treated pretty well and when all is considered they made out like bandits. <hr /></blockquote> Like I said, a sucker is born every minute. I don't think anyone considers this as being treated well. Being treated well is when you get what you are told you would get when you were told you would get it. However, I still stand by the idea that you would be singing a different tune if you were actually involved.

[ QUOTE ]
43 players really had a chance to score big in Orlando.
<hr /></blockquote> Come on Jake be honest at least for a second, more than half of those 43 had zero chance of scoring big. Most were there simply to pick up their free 30k. These are probably the players you refer to as being treated well, but there are quite a few others that have been trampled on.

[ QUOTE ]
Even Reno isn't all bad. How can you look at what now was a $1,320,000 tournament and say the players got screwed?
<hr /></blockquote> Quite easily, I am not the one looking at it with rose colored glasses. The real fact of the matter is that it was a 3 million dollar tourney in which the payout was gauranteed 6 months ago. When the players showed up to play they were told they would be paid at the end of the tournament, NOT whenever Kevin felt like paying them.

[ QUOTE ]
Life is way too short to always look at the negative side of things.
<hr /></blockquote> Life is too short for you to always keep you nose up the rear end of the one man that would not waste his time with you. You are not looking at the positive side of this situation, your mind is simply trying to CREATE something positive out of a horrible situation.

[ QUOTE ]
I'll bet everyone of those players who competed in Reno are looking forward to receiving a check in April <hr /></blockquote> I bet everyone one of those players were also looking for their total payout 6 months ago.

[ QUOTE ]
I am sure they all wish all the naysayers would just shut up before you really Pi## off KT and he stops sending checks.
<hr /></blockquote> They can rest assured that you kiss enough of his butt to offset any negative pressure a chat board might enforce.

eg8r

eg8r
03-09-2007, 04:15 AM
[ QUOTE ]
However, no one has even attempted to do what he was trying to do for pool. <hr /></blockquote> Strawman, this has nothing to do with the subject. Who really cares about intentions when you are promised money and you don't get it. No one really cares about KT's big heart right now.

[ QUOTE ]
Why would he want to purposefully "screw" the players from the start. <hr /></blockquote> I don't think anyone is saying that. His gamble did not come through and he was stuck with the bill. That is when he made the decision to screw the players. He lied to them for a month before sending them a small percentage of their winnings.

[ QUOTE ]
Also, he is still trying to make it a success. <hr /></blockquote> No one knows his intentions, and even if the full balance is paid in full 6 months down the road, there is zero chance to make that tournament a success. The best he can do now is simply make good on a failed promise.

[ QUOTE ]
Given his attempts to keep the going and pay the players the money, I think he deserves a closely watched 2nd chance. <hr /></blockquote> Whatever, I think if he ever makes good on the payout and then holds another tourney the players better demand an escrow account to be set up. Who cares how closely you look, without an escrow account set up all you will see is the opportunity for the same problem to happen.

eg8r

Rich R.
03-09-2007, 06:27 AM
<blockquote><font class="small">Quote mantis:</font><hr> Obviously mistakes were made. However, no one has even attempted to do what he was trying to do for pool. Why would he want to purposefully "screw" the players from the start. Poor overall buisness? Sure. However, because of him, many players made more this year, than the leading money winner of any previous year. He could have just filed bankruptcy. Also, he is still trying to make it a success. Given his attempts to keep the going and pay the players the money, I think he deserves a closely watched 2nd chance. <hr /></blockquote>
Mantis, none of us really know what KT's intentions were. I would guess that his real intention was to make money, in some way.
I want the IPT to succeed. I also want the players paid. At this point, both are in question.
No matter what the intentions in Reno, the bottom line is that players were not paid and they still have not been paid in full.
People wanted to crucify Barry Behrman, when he couldn't pay players, in full, after 9-11 hit in the middle of the U.S. Open. He eventually paid the players, but he still gets a pile of crap on the internet, everytime the subject, of players being paid, comes up. Nothing happened during the Reno IPT tournament. Why shouldn't KT be called on it?
I repeat, I would like to see the IPT succeed. However, before that can happen, players must be paid what they are due. If the purse for future tournaments is going to be reduced, that is fine, but you can't reduce the purse after the tournament has been played.
I hope the IPT can overcome all of the past problems and go on to be a very successful organization.

HarryDC
03-09-2007, 06:51 AM
<blockquote><font class="small">Quote eg8r:</font><hr> &lt;/font&gt;&lt;blockquote&gt;&lt;font class="small"&gt;Quote:&lt;/font&gt;&lt;hr /&gt;
Well 44% is a lot better than zero percent. That's what Danny got. A week after Reno that's what all the IPT players thought they were going to get. Zero. Nada. Nothing.

That turns the 3 Million dollar tournament into a one million 320 thousand dollar paid out tournament.

So far.

A pretty nice tournament.

Far bigger than any other tournament that I have heard of. <hr /></blockquote> A sucker is born every minute. I am sure you would not be this cheery about getting screwed out of 56% of your paycheck if you were the one stuck having to wait for the dead beat billionaire to pay up.

eg8r <hr /></blockquote>

eg8r

Your no more a part of IPT than Jake and I. (Interested Fans)If you are and I was KT I would make sure you were never a part of it again.

Sucker born every minute! That's standard operation for pool isn't it? So what else is new? A tour comes along that
offers some money, so the players who have been kept intentionally poor by the game, jump at a chance and you call them suckers? What a hero you are!

I hope Kevin pays off and comes back with a product that pays less and plays more. Just for spite! Kevin found out the hard way no one is really interested in pool so if he pays off and says goodbye. It wouldn't bother me any. It would just prove how smart he is.

HarryDC

DickLeonard
03-09-2007, 07:05 AM
Mantis I saw where Ho was building the largest casino in the World at Macau. If the govt didn't pass that anti gambling law where credit cards couldn't be used to pay off shore gambling debts. THe IPT could have been an absolute winner. ####

Qtec
03-09-2007, 08:53 AM
Way to go eg8r. Tap tap tap.

KT mislead from the begining. He guaranteed a tour for 2 years-come what may and his MAIN point was that all prize money was GUARANTEED by an Int. Accounting firm. ie no risk. We know now that it was all KT BS. Some of us questioned the lack of confirmation on KT's claims but were quickly labeled IPT haters by JJ and his like. Proof of the sound financial backing for the IPT was never produced but was taken as a ' given',[ KT was so rich etc] mostly by those who had a financial interst in the IPT. IMO it was just wishful thinking.
KT was talking about profit sharing when he knew he didn't even have the money to pay the players.
KT=Conman.......?
Q

HarryDC
03-09-2007, 11:43 AM
<blockquote><font class="small">Quote Qtec:</font><hr> Way to go eg8r. Tap tap tap.

KT mislead from the begining. He guaranteed a tour for 2 years-come what may and his MAIN point was that all prize money was GUARANTEED by an Int. Accounting firm. ie no risk. We know now that it was all KT BS. Some of us questioned the lack of confirmation on KT's claims but were quickly labeled IPT haters by JJ and his like. Proof of the sound financial backing for the IPT was never produced but was taken as a ' given',[ KT was so rich etc] mostly by those who had a financial interst in the IPT. IMO it was just wishful thinking.
KT was talking about profit sharing when he knew he didn't even have the money to pay the players.
KT=Conman.......?
Q

<hr /></blockquote>

Q

KT mislead you! He didn't mislead me. I know that one should never trust anyone associated with pool, not even you.

My only hope was that the players would have a continuing tour so they could receive an income. KT'S back round is well know. Expecting the worst but hoping for the best! /ccboard/images/graemlins/shocked.gif

Many tours have tried and failed. So what! Men's pool in the United States is right back where it started. KT a conman? No more than anyone else in Pool.

People like you, who are supposed to be informed never cease to amaze me, with your gullibility. Greed and gullibility the best tools of a so called conman.

As for the online gambling bill, I knew 18 months ago that it would be passed, why didn't KT? /ccboard/images/graemlins/shocked.gif

HarryDC

jjinfla
03-09-2007, 12:02 PM
KT have nothing to do with me? Probably right, but he did talk with me and shake my hand. He seamed pleasant enough.

Score big? You don't think receiving $30,000 a big score? Varner almost got more. It sure was a lot of work to get that far for him.

Look at all the fun and atention a bunch of low level players received. KT made a star out of Bernie. LOL.

I never really heard about pool until 1998 but it didn't take me long to realize what a gamble and sham it is. But it was fun to watch and follow. Now I am giving up on it and moving on to other stuff while I still can. It sure is a dead end job.

As far as a promise or guarantee by KT you better change what you are smoking or snorting or inhaling or shooting up if you take that seriously.

Didn't mommy ever tell you there are no guarantees in life?

Did you see anything in writing from KT?

I got hosed big by Lucent. They promised me and every other stockholder the world. I lost $90,000 with them. Does anyone feel sorry for me? With no chance of recovery. And yes that was real money, not paper.

The IPT players had a ball.

Jake

eg8r
03-11-2007, 07:49 PM
[ QUOTE ]
Your no more a part of IPT than Jake and I. (Interested Fans)If you are and I was KT I would make sure you were never a part of it again. <hr /></blockquote> Don't confuse this, it is not about me. This is about KT screwing the players and those who have their noses stuck up his rear.

[ QUOTE ]
Sucker born every minute! That's standard operation for pool isn't it? So what else is new? A tour comes along that
offers some money, so the players who have been kept intentionally poor by the game, jump at a chance and you call them suckers? <hr /></blockquote> You are misreading my post, I am calling Jake the sucker. He is the one dismissing KTs faults and exulting him because he is finally sending "some" of the money. Big freaking deal, he would be a real "hero" for pool if he paid ALL the money when it was due. We have suckers like Jake who think KT paying portions of the payment, whenever he darn well feels like it, is some sort of gift from God.

[ QUOTE ]
What a hero you are!
<hr /></blockquote> I just state it like it is.


[ QUOTE ]
I hope Kevin pays off and comes back with a product that pays less and plays more. Just for spite! <hr /></blockquote> Why add boundaries and then do it out of spite? That sounds ludicrous and destined to fail. I hope KT pays off the players the monies owed, adds interest on top of that and then begins to put together a tour that can survive with continued growth. Sounds like we might be worlds apart, but with me, spite should never be part of it.

[ QUOTE ]
Kevin found out the hard way no one is really interested in pool so if he pays off and says goodbye. It wouldn't bother me any. It would just prove how smart he is. <hr /></blockquote> I think he has already proven how smart he is. He is living off the interest earned on 3 mil while the players scrounge around to make the next months payments.

eg8r

eg8r
03-11-2007, 07:56 PM
Harry, are you even reading what you post? Let me give you an example... <blockquote><font class="small">Quote Q:</font><hr> KT mislead from the begining. He guaranteed a tour for 2 years-come what may and his MAIN point was that all prize money was GUARANTEED by an Int. Accounting firm. ie no risk. We know now that it was all KT BS. Some of us questioned the lack of confirmation on KT's claims but were quickly labeled IPT haters by JJ and his like. <blockquote><font class="small">Quote Harry who obviously does not know the meaning of gullible:</font><hr> People like you, who are supposed to be informed never cease to amaze me, with your gullibility. Greed and gullibility the best tools of a so called conman.
<hr /></blockquote> <hr /></blockquote> The gullible people were the ones like Jake who said, "who cares about his past he is rich and he is pool's saviour, pass the green kool aid." Q was one of the people who continually called KT background into question. This eliminated Q from being greedy or gullible.

[ QUOTE ]
As for the online gambling bill, I knew 18 months ago that it would be passed, why didn't KT? <hr /></blockquote> This has little to do with that bill passing. KT is just using it as an excuse. It was his way out.

eg8r

jjinfla
03-11-2007, 08:34 PM
Oh you are a trip eg.

I was at Orlando and there wasn't a person there that didn't have doubts about KT but they were riding that horse for what it was worth.

I say they got their money's worth.

Remember that BD article quoting KT about how the players, the ever grateful players, thanked him for the nice tournament and food and the massage? All 3 out of 200 that is. While 50 put the bite on him for a loan. Typical pool players.

Whatever you do don't let your children grow up to be pool players.

But the nay sayers keep beating a dead horse. They are really pissed that KT is still paying the players. They want to sue him but are finding it harder and harder to find cause. Actually, the only one who may have cause for a suit might be KT suing the naysayers for defamation. Ha Ha. Not really realistic but it would be funny.

I am not really pro KT or negative KT. He put out a product that any sane person would have looked at and said it will not fly. I am amazed that he dumped so much money into that product. and is still dumping more money when in all likelyhood he doesn't have to.

Even if he does keep making monthly payments people will still berate him. The players, in the meantime, will be laughing. That is they will be laughing all the way to the bank.

But for me I think pool is now dead. The IPT was the last harah. Their last hope. Too many old players that will now just hang up their cue for the last time. Even Earl is too old to keep playing this game.

Jake

Chopstick
03-12-2007, 08:53 AM
I don't understand why he doesn't just pay them. He's supposed to be a billionaire. That's like owing somebody three dollars when you have a thousand in the bank.

jjinfla
03-12-2007, 09:37 AM
<blockquote><font class="small">Quote Chopstick:</font><hr> I don't understand why he doesn't just pay them. He's supposed to be a billionaire. That's like owing somebody three dollars when you have a thousand in the bank. <hr /></blockquote>

I didn't see his name on Forbes' list of billionaires.

There are quite a few "millionaires" here where I live and you would be surprised at how cheap they can be in some cases.

Big homes, new Caddy or Mercedes every year and they eat at the clubhouse or go for the "early bird specials" to save a couple bucks.

If he really does have all that money he most likely is not paying it all out at once because he is having too much fun doing it this way.

Can you just picture him on his yacht with Mike Sigel laughing it up at some of the antics the "pool saviors" are pulling. The money he is saving on the interest might pay the gas bill for his plane and yacht.

Jake

jjinfla
03-12-2007, 10:02 AM
<blockquote><font class="small">Quote Rich R.:</font><hr> , until the total amount is paid in full, the players can consider themselves "screwed". In fact, IMHO, they should also be paid interest on this money, but I don't expect that to happen.
<hr /></blockquote>

That may be your opinion but I doubt that it is the opinion of all the players.

I would think that most, if not all, of the IPT players would settle for a percentage of what is owed them. They are not all dummies.

Just what that percentage is is the only question. 50%, 70%, 90%?

We also know that precedent has been set by Keith McCready when he showed that he was very happy to receive 90% of what was owed. He made that clear when he sold his winnings for 90%.

Then look at John Schmidt, he sold his share of the US Open for 50%. I wonder if that was after taxes? Did John pay taxes on 40K or 20K?

So receiving some of the money might be a deal the players will jump at. I suppose they are just all cooling their heels and not making any waves right now because as long as they keep receiving monthly payments that percentage keeps going up and up.

But think of it. What if KT sends out a notice to all the players and says the next payment will be for 31% (making the total paid out 75%) if you will agree to settle for that amount as total payment for what is owed. If players do not agree to this then I (KT) will reduce the monthly payment to 7% for as long as I can but be aware that filing for bankruptcy is a serious option since I (KT) have no money coming in from the IPT.

How many players would jump on that deal?

Jake

hondo
03-12-2007, 12:15 PM
<blockquote><font class="small">Quote eg8r:</font><hr> &lt;/font&gt;&lt;blockquote&gt;&lt;font class="small"&gt;Quote:&lt;/font&gt;&lt;hr /&gt;
Well 44% is a lot better than zero percent. That's what Danny got. A week after Reno that's what all the IPT players thought they were going to get. Zero. Nada. Nothing.

That turns the 3 Million dollar tournament into a one million 320 thousand dollar paid out tournament.

So far.

A pretty nice tournament.

Far bigger than any other tournament that I have heard of. <hr /></blockquote> A sucker is born every minute. I am sure you would not be this cheery about getting screwed out of 56% of your paycheck if you were the one stuck having to wait for the dead beat billionaire to pay up.

eg8r <hr /></blockquote>

!!!!!! Wow! I thought you and Kevin were friends?
Although I do agree with you.

Rich R.
03-12-2007, 08:16 PM
<blockquote><font class="small">Quote jjinfla:</font><hr>I would think that most, if not all, of the IPT players would settle for a percentage of what is owed them. They are not all dummies.

Just what that percentage is is the only question. 50%, 70%, 90%?<hr /></blockquote>
Jake, did you ever settle for a percentage of your salary? I think not. I also don't think most of the players will settle for a percentage. If the payments stop, I think the legal proceedings will begin, and with KT's track record, I don't think he wants to go into court.

jjinfla
03-12-2007, 08:36 PM
Okay. I have had my fill of IPT for this month. Now we can all wait until April and see if more money is coming or if KT has an April Fool's joke up his sleeve.

Jake

Qtec
03-13-2007, 07:16 AM
<blockquote><font class="small">Quote jjinfla:</font><hr> Oh you are a trip eg.

I was at Orlando and there wasn't a person there that didn't have doubts about KT but they were riding that horse for what it was worth. <font color="blue"> Players expectations have nothing to do with KT's BS.. </font color>

I say they got their money's worth.

Remember that BD article quoting KT about how the players, the ever grateful players, thanked him for the nice tournament and food and the massage? All 3 out of 200 that is. While 50 put the bite on him for a loan. Typical pool players. <font color="blue"> Total crap! Why don't you tell us why they had to ask for ' loans' in the first place. Could it be because KT didn't pay them their prize money when he was supposed to? </font color>

Whatever you do don't let your children grow up to be pool players.

But the nay sayers keep beating a dead horse. They are really pissed that KT is still paying the players. They want to sue him but are finding it harder and harder to find cause. Actually, the only one who may have cause for a suit might be KT suing the naysayers for defamation. Ha Ha. Not really realistic but it would be funny.

I am not really pro KT or negative KT. <font color="blue"> Now that IS funny. You have been one of Kevins most staunchest of supporters- right up until the tour collapsed! </font color> He put out a product that any sane person would have looked at and said it will not fly. I am amazed that he dumped so much money into that product. and is still dumping more money when in all likelyhood he doesn't have to.

Even if he does keep making monthly payments people will still berate him. The players, in the meantime, will be laughing. That is they will be laughing all the way to the bank.

But for me I think pool is now dead. <font color="blue"> Outside the US pool is flourishing! </font color> The IPT was the last harah. Their last hope. Too many old players that will now just hang up their cue for the last time. Even Earl is too old to keep playing this game.

Jake <hr /></blockquote>

Who is negative now?

Q /ccboard/images/graemlins/smirk.gif.the IPT goes down the drain and pool is finished!!????????