Making the $10,000 entry more afforable...

To make the $10,000 entry fee more afforable I believe that players should be allowed to sell precentages of themself to other players. Basicly being backed by other players, investors, or sponsors. This was something we discussed yesterday (Ken, Joep, and I) and only seems to make sence.

Lets face it, paying a straight $10,000 entry is pretty strong, so why not try and make it a little easier to handle. It is done all the time in poker events and they seem to be the model to go by.

Add this feature along with Walts suggestion of posting odds for the players in the sportsbook and possible calcutta (if it can be done legally) would only help add excitement to the event for the spectators.

Hell, if I was to get a sponsor I'd play the event in a heartbeat, but without one there is no way in hell I could pay a $10,000 entry (and stay married anyway...LOL).

 

Like I said....

...I have 20 English Pounds burning a hole in my pocket.

Actually I think this is a brilliant idea. You could have a sort of stock exchange where shares in the players are traded. Let's say each player offers 1000 shares at $10 each.....

Cheers

Reachy

 

That would work...

We could get the 16 players signed up and sell shares of each of them just like stock. However just like a stock broker a fee would have to be taken out for expences (this would start getting time consuming).

But all in all I think this would be a great way to get lots of players involved in the event. The players would have the final say in the amount of shares of himself/herself that they would want to sell.

All the shareholds would be listed publicly and updates could be posted online after each match for those unable to attend the tournament.

Also we could have a small advertising fee for any companies wishing to advertise their companies (logo wear for the players during the events). This would just help add additional funds into the prize pool.

 

Clearly that should be called ....


The Blackdaq

 

Thumbs up

Nice one London, you get one point for that one.

 

huh ?

Up until this series of posts, I was gong to try and get my tournament BJ bankroll big enough to enter this event....

Now, however ?????

 

Private Equity

Fredguy

The system could be that each prospective player gets to buy as many of their own shares as they want initially. Clearly they could buy all 1000 shares and take all the profits on winnings, but if they can only afford say $5000 they could offer 500 shares at $10/share on the Blackdaq and 1 or more other people could "invest" in their BR and get a proportional share of their winnings.

I could even see shares being traded when the tournament is underway. For example, lets say that you had 500 shares in yourself and the remaining 500 where owned equally by investor A, B, C, D and E. If you progressed and were through to the semi-finals your shares may now be worth $15 each and either of the other share holders could sell some or all of their shares at that price.

Clearly some sort of "form book" needs to be available for us to make our investment decisions.

Cheers

Reachy

 

Good Idea

It would be nice to have a few quid on a player that you could then track and root for during the tournament.

Just wondering what the TBJPA position is if companies decide to sponsor a player and want their logos on shirts etc…

Andy

 

Shares

would have to be bought up 100%. With a shares system like this all the shares would need to be bought up or the entry fee wouldnt be made.

 

Correct

You could have a series of cut-offs. Say the first one 1 week before the start date, and anybody with less than $10K to put up, either of their own money or as part of a share scheme, has to withdraw, thus freeing up "investors" to pick other players to invest in.

I'm personally up for the tourney and have bought 2 shares in myself at $10 each leaving 998 shares available for purchase by the general public. Roll up, roll up...

Cheers

Reachy

 

I think

the only way this player buying can work is for players to upfront or backstage put themselves up for sale. For example Tex has said he could play if he was sponsored aka invested in. To work shares for players will need a transfer agent. For example NASDAQ uses market makers that make their money on the bid x ask spread. Then you have the broker fee on top of that as he works the relation as a middle man between investors and market makers. So, it really is a nightmare of logistics. I think the best way is to keep it private with all transactions between player and investor.

 

The potential for a conflict of interest of a player (either directly or by proxy) owning shares in one or more other players is enormous. Ths is simply a bad idea.

 

Totally agree

Participating players should not be able to invest in other participating players.

Cheers

Reachy

 

I'll Take Ken

Ken Smith, if you're watching, I'm ready to take a $1,000 piece of you.

Actually, this all reminds me of the movie "The Harder They Fall" starring Humphrey Bogart and Rod Steiger. The film shows how a corrupt boxing promoter scams and rigs fights to promote a contender all the way to a title shot, and after a savage beating in his final bout, and millions in ticket sales, he's left with $49 as his remaining share - having "sold" pieces of himself.

 

Sponsors welcome...

I would love to have companies sponsoring players and willing to allow their logos (on shirts or caps) for a very reasonable fee.

 

The form book says!

My players

Well I can’t afford as much as esposo but I will go in $300 (three hundred dollars) for a player.

My selections are: -

JOE PANE

If Joe is not playing then I will go for my second selection: -

DAVID MATTHEWS

If none of the above are playing I will come back and revaluate.

PS Don’t bother putting my logo on any shirts Rick (not even got an avatar on here yet) :laugh:

Andy

 

Back home!

Now that I am back at the house I can start concentrating on what to do with this $10,000 event.

I am hoping to finalize the format by the end of the week and hopefully start getting some more players willing to play in this event.

Actually if enough members or other players really are willing to sponsor players I think we could fill this event up and everybody could have fun.

And if we can get the sportsbook involved just think what kind of side action maybe bet on the matches. To be fair certain players would have lower odds then others of winning the whole thing.

If we were to get any sportsbook action it would only on the players to win it all, no individule matches.

 

Owning a percentage of another player?

I think this could be a fun and fair way to sell the players, what do ya'll think.

Unfortunately there is no way to stop players from offering a percentage of themsleves to other players, this is common practice with most players who are friends.

It really just gives players a little more chance at cashing in on a tournament by having another player involved in the event.

What I propose is an open sale of each of the 16 players. Once I get 16 willing players to put up the $10,000 entry fee, we then find out how much percentage they would like to sell of themself, no more then 50%, but a minimum of 10%, just to get others involved in the event.

This way I could pay "ALL" the winning investors and not just the winning players.

It seems like this would be the best way to handle this. The investment would be for lots of 2% of each player, starting at $200 each.

Let say your $200 investment wins, your investment (per $200 investment) would pay you:

1st = $1,500 = 2% of $75,000
2nd = $700 = 2% of $35,000
3rd = $300 = 2% of $20,000 (Note: tie for 3rd, so two $20,000 payouts

Less 3% accounting fee.

Note: if a player wishes to not sell any of themselves other then the 10% required, there is nothing that can be done.

 

"minimum 10% required"???

hold up there, Tex. i think this is all getting a little too confusing.

Obviously, deals happen & players sell/trade parts of themselves in any big tournament. That's just a fact of life.

But mandating a certain percentage? Ridiculous. And also a little bit presumptuous -- who's to say you can sell at least $1000 of each of your 16 players? That's at least $16,000 of additional revenue, when for all intents and purposes it doesn't even look like we've got the interest yet to sign up the original 16 players, much less $16k of extra cashflow, all in $200 incremements.

Personally, I would feel strange about being forced to sell any part of my action. Plus, it just looks like a chance to charge this "3% accounting fee." If you want to get other players involved, do a calcutta. That accomplishes the same thing (getting other players involved who don't have the $10k to buy in themselves). And if a player wants to actually play in the $10k but doesn't have all $10k, well, if he/she has the skill to make him/her a worthy investment for a game of this size, then he/she should be able to find one or more private investors on their own to buy chunks of themself, without creating this whole mandated farm system.

Just my two cents.

-hd.

 

I vote NO to mandatory sales

What is this Communistic BlackJack?

Why should any player have to "sell" a piece of the action in themselves?

If it is voluntary fine but "forced"? What's next holding this event in Leningrad?

You've posted the "rules" TBJPA - fine. Formalize the playing format and let players do what they want AFTER they've put up the funds.