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Despite Raymer's spin, they haven't put Raymer's image on a billboard and used it to try to sell Coke or something.

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No they haven't.
And Raymer never said that they did.

The fact is, the WPT could do this IF THEY WANTED TO because of the contract.

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In the event the WPT ever is forced to sell or go out of business, their intelectual property and contractural holdings will be sold. The new owner at that point can use the likenesses of WPT players as they please, it would be immoral but 100% legal.

I chatted once again with my attorney about the case today (he hasn't looked over the public filings yet but I think I gave him a fair basic overview), he tells me there is precedence in existing contractual cases in some states that would the clause of this contract invalid. Sorry I don't have more specifics at this time.

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