need a fair deal

[vkotlyar]

a friend of mine wants to put me into the stars saturday grtd tourney. ( i think its 200+15 but i could be wrong) for exactly one year. What would be a good deal for both of us? We were considering 60-40 in his favor and pay at the end of the year. Is it normally done per event? For example, lets say i dont cash in 3 weeks, but then make $1000, should i then receive $400? I am a winning STT player but have not played too many MTT online.
thanks in advance for your replies
V

[JackOfSpeed]

Typical arrangment (as I understand it) would be to split PROFITS, not revenue. If you hadn't cashed in a long time, $1,000 would go to your friend, and so would any other winnings until you made it out of the red, at which point the two of you would split the profits 60-40. 60-40 is a reasonable split, but 50-50 is also fairly common.

So in your example, where you had gone the first three weeks without cashing but cashed in the fourth week, your friend gets (215*4) + (0.6*140) = 860 + 84 = $944, and you get $56.

[vkotlyar]

so if I didnt cash teh following week, would i have to give him the $56 and be in the red again?
also, if i happen to cash early, wouldn't he then be freerolling for the rest of the year if i stay out of the red?
thanks again
V

[JackOfSpeed]

[ QUOTE ]
so if I didnt cash teh following week, would i have to give him the $56 and be in the red again?

[/ QUOTE ]

No, you'd keep your $56, but would be another $215 in the hole, and your future cashes would have the $215 deducted before you started splitting profits.

[ QUOTE ]

also, if i happen to cash early, wouldn't he then be freerolling for the rest of the year if i stay out of the red?
thanks again
V

[/ QUOTE ]

I'm not completely sure what you mean by this. If you cash early, then obviously you are in better shape than had you cashed while you are deep in the hole, since you actually get your hands on a nice chunk of the winnings (assuming the backer would give you your cut right then and there). But after you each split up those profits from said win, the two of you are basically back to where you started in terms of your arrangement, so I don't see where the free-rolling comes in.

Unless the backer isn't paying you until the end of the year, which I guess is what you are asking. Hmm. Yes, then in a sense the backer would be free-rolling, but he'd be doing it with winnings you (presumably) would not have earned had you not entered into the arrangement. Hadn't thought about that before. Maybe I'm not the best guy to ask about this after all, as I'm not completely sure whether most backers would pay you after a win or wait until the whole term (in this case, a year) was up.

[RichC.]

Simple soulution, win it the first week you play, end deal and possibly friendship if need be.

[vkotlyar]

so should he pay me per event and assume that every event is independent of the previous one, or should he pay me at the end of the year?
V

[oyvindgee]

If the staking deal goes over a year he should provide you with buy ins every week and you should ship him the profit. If you made money overall at the end of the year, you get half of it. That's just my take on it.

[JackOfSpeed]

[ QUOTE ]
If the staking deal goes over a year he should provide you with buy ins every week and you should ship him the profit. If you made money overall at the end of the year, you get half of it. That's just my take on it.

[/ QUOTE ]

Yes, that makes a lot of sense (and was put very simply). I think that's how it should be done.