12 mouthly $100 tourneys for WSOP with work budies

[Zachvdp]

Any one ever do this.
10 guys
12 months
$100 a month
monthly tourney with some sort of point system
$10000 for WSOP + $2000. hotel air fare ect.
Written contract with 10 players saying they'll pay $100 a month, spilt winnings, at WSOP 10 ways... if any.

What do you think.