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ted harris
09-17-2002, 10:57 AM
Just got off the phone with Brady Behrman. I expressed concern that there were still some people who have doubts about the prize money, and before I knew it there was a three way call to his bank on the line, and the balance of an account named
US Open 9-ball Championship Escrow, as of September 17, 2002 is indeed $40,000. I hope this helps to ease the minds of all the fans and players that love this great tournament!!! See you there...

09-17-2002, 11:19 AM
Nice job, Ted!

- Steve

09-17-2002, 11:40 AM
Teddy the Deeeeeeeeeee!

09-17-2002, 11:56 AM
What does escrow account mean? I always wondered about that. Thank you, Matt in VA.

Rich R.
09-17-2002, 12:04 PM
<blockquote><font class="small">Quote: Anonymous:</font><hr> What does escrow account mean? I always wondered about that. Thank you, Matt in VA. <hr></blockquote>
Basically, it means that the money is in the bank just waiting for the names of the winners, so they can write the checks.
Rich R.

Nostroke
09-17-2002, 12:20 PM
Good question- Here is definition i found

a Trust account held in the borrowers name for purposes of paying obligations.

Based on the letter establishing it, as i remember it, ( i cant find it now) it looked like an ordinary account controlled by Barry which doesn't help CW that much. I dont think the word Trust was there. At anyrate im no expert on such matters.

I do think however, the UPA should have come back with something if for no reason other than self preservation.

09-17-2002, 03:05 PM
It is not an escrow account. It is an account named US Open Escrow account which MR Berman can close, liquidate or whatever he cares to do with it. It does show just what a shifty devil he is. He also assumes that the Players and Fans are ignoramuses.

09-17-2002, 03:06 PM
QUICK! HOLD HIM DOWN EVERYONE! I GOT HIS IP! /webbbs/images/icons/tongue.gif

cheesemouse
09-17-2002, 03:19 PM
<blockquote><font class="small">Quote: Anonymous:</font><hr> It is not an escrow account. It is an account named US Open Escrow account which MR Berman can close, liquidate or whatever he cares to do with it. It does show just what a shifty devil he is. He also assumes that the Players and Fans are ignoramuses. <hr></blockquote>
Thanks for being the darkness that surrounds the light.

cueball1950
09-17-2002, 07:58 PM
some people just are not happy unless they are bashing other epople. No wonder the worlds is in such a mess...mike

09-17-2002, 08:13 PM
Just like you've been continually bashing CW???

09-17-2002, 10:53 PM
<blockquote><font class="small">Quote: ted harris:</font><hr> Just got off the phone with Brady Behrman. I expressed concern that there were still some people who have doubts about the prize money, and before I knew it there was a three way call to his bank on the line, and the balance of an account named
US Open 9-ball Championship Escrow, as of September 17, 2002 is indeed $40,000. I hope this helps to ease the minds of all the fans and players that love this great tournament!!! See you there... <hr></blockquote>


An escrow account:

Money, property, a deed, or a bond put into the custody of a third party for delivery to a grantee only after the fulfillment of the conditions specified.

Not to be pessimistic but the anonymous' may have a valid point.

He has no agreement with anybody but himself.He can do as he pleases with this 'flash' money imo.If it were any kind of guarantee he would say payable only to the winner of the US Open on demand or something of a similar nature.That's the only way one could possibly have an escrow account with himself?I certainly could be mistaken but something isn't right somewhere.To whom and what are the obligations and conditions that he is supposed to be fulfilling?BS

TomBrooklyn
09-18-2002, 12:24 AM
Quote: cueball1950: some people just are not happy unless they are bashing other people. <hr></blockquote>I'm not taking one side or the other here, but is factual reporting the same as bashing?

I heard from a well known player that it's not an escrow account, but how they got the information I don't know and I don't vouch for it. I also wouldn't consider something said by a person unknown to anyone to be more than a rumor, but sometimes rumors are true.

Personally, I wouldn't worry about it even if it's not an escrow account. Barry never failed to pay out until the biggest attack on American soil since Pearl Harbor coincided with last years tournament.

Also, funny things can happen with escrow accounts. If someone makes a claim on the money, the person who has it escrowed, usually an attorney, will often not release it until the claim is settled or at least investigated because he would be responsible for the money if the claim held up.

What if someone owed money from last year put a claim against this years funds? What if the UPA files a claim that it wants some entry fees refunded. Barry could ignore it and say "sue me." An escrow agent might not be willing to take that chance. A argument could be made that the payouts for this tournament have a better chance of being paid by Barry than by an escrow agent whose concerns are essentially with legalities and not pool per se

=TB=

Warren_Lushia
09-18-2002, 04:32 AM
<blockquote><font class="small">Quote: TomBrooklyn:</font><hr> Quote: cueball1950: some people just are not happy unless they are bashing other people. &lt;hr&gt;&lt;/blockquote&gt;I'm not taking one side or the other here, but is factual reporting the same as bashing?

I heard from a well known player that it's not an escrow account, but how they got the information I don't know and I don't vouch for it. I also wouldn't consider something said by a person unknown to anyone to be more than a rumor, but sometimes rumors are true.

Personally, I wouldn't worry about it even if it's not an escrow account. Barry never failed to pay out until the biggest attack on American soil since Pearl Harbor coincided with last years tournament.

Also, funny things can happen with escrow accounts. If someone makes a claim on the money, the person who has it escrowed, usually an attorney, will often not release it until the claim is settled or at least investigated because he would be responsible for the money if the claim held up.

What if someone owed money from last year put a claim against this years funds? What if the UPA files a claim that it wants some entry fees refunded. Barry could ignore it and say "sue me." An escrow agent might not be willing to take that chance. A argument could be made that the payouts for this tournament have a better chance of being paid by Barry than by an escrow agent whose concerns are essentially with legalities and not pool per se

=TB=
<hr></blockquote>

bluewolf
09-18-2002, 05:54 AM
<blockquote><font class="small">Quote: Anonymous:</font><hr> Just like you've been continually bashing CW??? <hr></blockquote>

having a brain embolism here, who is cw?

anyway, i am sure you guys will all have a good time.i think most people are going for a good time and to meet friends while playing pool?

Laura

jjinfla
09-18-2002, 06:04 AM
<blockquote><font class="small">Quote: bluewolf:</font><hr> having a brain embolism here, who is cw?
Laura <hr></blockquote>

Ain't that the truth. Jake

Wally_in_Cincy
09-18-2002, 07:03 AM
<blockquote><font class="small">Quote: TomBrooklyn:</font><hr>

I heard from a well known player that it's not an escrow account, but how they got the information I don't know and I don't vouch for it. I also wouldn't consider something said by a person unknown to anyone to be more than a rumor, but sometimes rumors are true.

Personally, I wouldn't worry about it even if it's not an escrow account. Barry never failed to pay out until the biggest attack on American soil since Pearl Harbor coincided with last years tournament.

Also, funny things can happen with escrow accounts. If someone makes a claim on the money, the person who has it escrowed, usually an attorney, will often not release it until the claim is settled or at least investigated because he would be responsible for the money if the claim held up.

What if someone owed money from last year put a claim against this years funds? What if the UPA files a claim that it wants some entry fees refunded. Barry could ignore it and say "sue me." An escrow agent might not be willing to take that chance. A argument could be made that the payouts for this tournament have a better chance of being paid by Barry than by an escrow agent whose concerns are essentially with legalities and not pool per se

=TB=
<hr></blockquote>

Tom,

That's the best post I've read yet concerning this whole mess. Legally speaking it's probably not a true escrow account, he's just proving that he has the money available. I admire him for learning a lesson from last year's unforseeable problems. Anybody who thinks he's going to run off to Mexico with that money is outta their mind.

cueball1950
09-18-2002, 11:50 AM
If you read my posts correctly you will see that i actually have respect for Charlie Williams and his game. Not just in his business sense in this matter. How would you like to be a promoter and have him dictate to you what you can and cannot do after signing a contract with him. Charlie should have gave him more time. He cannot rule the pool world with his Organization. There are just to many players who wil go after the money anyway. Barry has ben putting this thing on for 27 years and only last year (to my knowledge) did he have a problem. Charlie cannot forgive the short purse of last year and raised hell last year because of it. Should have Barry just have cancelled the Tournament last year and gave everyone their money back. Then what would have happened to the players from over seas. Germany. Japan. Korea. etc.. they would have had to sit around there for the rest of the week with nothing to do. Remember, all the planes were grounded. Nobody could have flew anywhere... Nuff said on the subject anyway. Most of Charlies group are playing anyway. There is no solidarity there anyway. So everybody should just leave it alone and let the play begin. Then we wil see what happens.. if he screws up again, then hang him from a yard arm or put him in front of a firing squad..............mike

09-18-2002, 01:37 PM
Just a thought, how many mens pool associations have come and gone since the us open began 27 years ago. Anyone looking for consistency need only look to Barry Behrman.
His dedication to pool should go unquestioned. He has literally weathered many storms in the past . I, personally
promoted an event in 1987 in Cincinnati, and chose not to deal with the pbt demands for a second event.
I look forward to attending the us open, because I know it is a first class tournament.
Mike Hughes

09-18-2002, 01:44 PM
Behrman couldn't cover some of the checks for the previous year either. I personally know several players who did not get paid with a cashable check for months following the 2000 Open. Last year's 9/11 tragedy was not the first time he hasn't paid up. He only made good on last year's debts in the last 45 days to players when he realized many probably would not attend this year. Any guesses as to how many players finishing in the cash this year will not be paid in full before they go home? This will be interesting. I truly hope the Open is great success and Barry makes nice chunk of change and everyone gets paid what they earn. What are the chances of that happening? Yes, this will be interesting. Carlo in Ohio

Vicki
09-18-2002, 01:44 PM
<blockquote><font class="small">Quote: Anonymous:</font><hr>
An escrow account:

Money, property, a deed, or a bond put into the custody of a third party for delivery to a grantee only after the fulfillment of the conditions specified.

Not to be pessimistic but the anonymous' may have a valid point.

He has no agreement with anybody but himself.He can do as he pleases with this 'flash' money imo.If it were any kind of guarantee he would say payable only to the winner of the US Open on demand or something of a similar nature.That's the only way one could possibly have an escrow account with himself?I certainly could be mistaken but something isn't right somewhere.To whom and what are the obligations and conditions that he is supposed to be fulfilling?BS

<hr></blockquote>

You are correct. This is not a true escrow account. If it were an escrow account we might be in for bigger problems than anyone would expect. Based on the defination provided here (which is entirely accurate) all the conditions specified would have to be met in order for the funds to be released. So if anyone (UPA) had a beef and said that somehow the specified conditions were not met then no one would get paid. The attorney (or other 3rd party holding the funds) could not release the money without the agreement of all parties that the conditions had been met. I don't see the two sides agreeing on anything - especially the distribution of the prize money. And no one knows what the terms of the contract would have been. None of us has seen the sanctioning agreement. What if the Chesapeake Convention Center burns down early on the morning of the 23rd? Who gets the $$ then? What if the building burns down on Saturday night before the finals? How is the money distributed then. Was this agreement drawn up by a competent attorney? Are there resolutions to all of the possible issues that could be faced? If not, that money could be held in escrow until doomsday. None of the players might ever get paid. I suspect this among the many reasons that the Behrman's did not agree to have their tournament sanctioned. I don't blame them. They are obviously very savvy business men or they would not be promoting such a successfull tournament today. The account is a good will gesture on the part of the Behrman's to ease any doubt that the players will not get paid - which is the bogus message that has been broadcast by Charlie &amp; the UPA. They didn't have go to this trouble except that the UPA has done such a good job of trying to trash their reputations.

Vicki