International Pool Tour
From Wikipedia, the free encyclopedia
The International Pool Tour is a professional sports tour created in 2005 by Kevin Trudeau. It aims to elevate pocket billiards, specifically 8-ball, to the level of other modern sports. Closely modeled on the PGA tour, the IPT is offering the largest prize funds in pool history, including over $8 million in its first full year, 2006. Shortly after being founded in 2005, Deno Andrews was brought on as Tour Director.
The league currently consists of 150 players. At the end of the 2006 season, the bottom 50 players are eliminated from the tour and replaced with the top 50 of the 2007 IPT Tour Card Qualifier. Everyone who makes the cut for the 2007 season is guaranteed $100,000 prize-money — but much more can be earned through tournament wins and bonuses. The IPT has already been credited with revitalizing the sport and bringing the game to a higher standard.
In 2006, the IPT secured major television contracts with OLN and Eurosport. OLN is currently running a television show produced by the IPT. The show premiered on June 4th, 2006 on the OLN network. Eurosport will broadcast live from each IPT event to millions of potential viewers across Europe. This coverage is unprecedented in the sport of billiards.
In September 2006, just prior to the IPT World Open Eight-ball Championship in Reno, Nevada, Kevin Trudeau announced that the IPT had entered into an agreement to be acquired by Ho Interactive, a new company started by casino owner billionaire Stanley Ho. Two new sponsors were also announced offsetting the bad news that the IPT championship scheduled for October 2006 in London, England, had been cancelled[1].
In October 2006, the IPT cited confusion pertaining to the delivery of competitor payment checks and factors related to its impending acquisition by Ho Interactive as key causes. Tournaments have been postponed and are officially being rescheduled. Tentatively, the IPT is targeting February and March 2007.[2]
November 1, 2006, approximately $3,000,000.00 US in prize money from the Reno event had remained unpaid to the participating players.
In late November players received 11% of prize winnings from the Reno event. On December 8, 2006, the IPT players received their second installment for another 11% as promised, and another payment to follow on January 8, 2007.
As of January, the IPT 2007 Season has still not been determined. The IPT is in the process of revamping their business model based on the unforeseen legislation outlawing on-line gaming in the United States. Without their major online casino sponsor, the IPT must undergo a substantial change to its business model. The most important updates are as follows:
• Players from the 2006 World Open will continue to be paid monthly until paid in full. Payments will be made on the first of each month. No payment will be made February 1st. The next payment will go out on March 1st, 2007. The amount of each payment will be determined each month and may vary from time to time. It is the IPT’s full intention to get everyone paid in full within the next six months.
• The IPT has noted so as to all those who entered the 2007 Tour Card qualification tournaments, if the IPT is not capable of fulfilling commitments relating to the 2007 Tour, qualifiers will be refunded their enrollment fee. The IPT plans on making an announcement on April 15, outlining the 2007 & 2008 seasons.
