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#1
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
I just heard from a media source [/ QUOTE ] Is this source confidential? |
#2
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
more monkeys ftw
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#3
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
Stars have this also but at a bonus 5mil for the winner, no?
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#4
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
Full Tilt Poker will pay out the $10,000,000 prize in equal $1,000,000 installments over a 10-year period. Players must agree to a 10-year exclusive endorsement contract with Full Tilt Poker allowing us to use their name, voice, and likeness in all future online and offline promotions. Additionally, Player agrees to play a minimum of 10 hours per week at Full Tilt Poker.com, and to attend any promotional events or tournaments that Full Tilt Poker deems appropriate. Player will be ineligible to promote any other online or offline poker-related company. Additionally, Player must agree to only wear Full Tilt Poker gear at the Main Event whenever possible, including when playing at non-televised tables, and during any and all televised interviews, and at all future tournaments and professional poker-related appearances throughout the duration of this agreement, where allowed by the event organizer. Full Tilt Poker retains final approval rights in regard to any other endorsements the Player may be interested in pursuing, and will not unreasonably withhold such permission. [/ QUOTE ] Also, one time payout of $50K for FT increasing to $100K for 2nd-3rd, just have to wear the FT gear during the ME. |
#5
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
I wonder if it's really worth $10 Mil? Say someone like Robert Varkonyi had a deal like this back in 2002 - it's doubtful that today (5 years after his ME win) he still has enough juice to be worth $1M/year to a site.
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#6
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
I wonder if it's really worth $10 Mil? Say someone like Robert Varkonyi had a deal like this back in 2002 - it's doubtful that today (5 years after his ME win) he still has enough juice to be worth $1M/year to a site. [/ QUOTE ] I don't think its necessarily that they get a ten million dollar return, but they get the promotional value of advertising "qualify with us, get an extra ten million if you win!". Not to mention that the odds (before the start of the ME) that they have to pay it out are pretty low. And they may be insured for it, in any case. --Zetack |
#7
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
I wonder if it's really worth $10 Mil? Say someone like Robert Varkonyi had a deal like this back in 2002 - it's doubtful that today (5 years after his ME win) he still has enough juice to be worth $1M/year to a site. [/ QUOTE ] this is actually a tricky question that I thought about a little before entering via FTP, since I have certain stock holdings that might be at issue here. someone like Varkonyi would be very well served by a 10 year deal because he's simply not worth a million a year in endorsements. someone like Phil Ivey, pretending he won, might wind up losing a ton of money on the deal - he is very likely worth > 1m/year if he is properly marketed. OTOH, Moneymaker/Raymer/Hachem definitely aren't getting a million a year from outside deals, either (although in Greg's case, never finishing his book has something to do with that [img]/images/graemlins/frown.gif[/img] ) so for the vast majority of people, the contract is far more than they'd earn any other way. for a few pros, this might be a bad deal. as for the site itself, the offers are essentially frontloaded - having that year's winner (unless he's Jamie Gold) is likely worth a ton in exposure and might pay for the cost of a 10 year annuity in year 1. everything after that is gravy. also, if rainkhan wins, stars will go bananas over him. |
#8
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
[ QUOTE ] Full Tilt Poker will pay out the $10,000,000 prize in equal $1,000,000 installments over a 10-year period. Players must agree to a 10-year exclusive endorsement contract with Full Tilt Poker allowing us to use their name, voice, and likeness in all future online and offline promotions. Additionally, Player agrees to play a minimum of 10 hours per week at Full Tilt Poker.com, and to attend any promotional events or tournaments that Full Tilt Poker deems appropriate. Player will be ineligible to promote any other online or offline poker-related company. Additionally, Player must agree to only wear Full Tilt Poker gear at the Main Event whenever possible, including when playing at non-televised tables, and during any and all televised interviews, and at all future tournaments and professional poker-related appearances throughout the duration of this agreement, where allowed by the event organizer. Full Tilt Poker retains final approval rights in regard to any other endorsements the Player may be interested in pursuing, and will not unreasonably withhold such permission. [/ QUOTE ] Also, one time payout of $50K for FT increasing to $100K for 2nd-3rd, just have to wear the FT gear during the ME. [/ QUOTE ] Like everything else, the rich just get richer. [img]/images/graemlins/tongue.gif[/img] |
#9
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
[ QUOTE ] Full Tilt Poker will pay out the $10,000,000 prize in equal $1,000,000 installments over a 10-year period. Players must agree to a 10-year exclusive endorsement contract with Full Tilt Poker allowing us to use their name, voice, and likeness in all future online and offline promotions. Additionally, Player agrees to play a minimum of 10 hours per week at Full Tilt Poker.com, and to attend any promotional events or tournaments that Full Tilt Poker deems appropriate. Player will be ineligible to promote any other online or offline poker-related company. Additionally, Player must agree to only wear Full Tilt Poker gear at the Main Event whenever possible, including when playing at non-televised tables, and during any and all televised interviews, and at all future tournaments and professional poker-related appearances throughout the duration of this agreement, where allowed by the event organizer. Full Tilt Poker retains final approval rights in regard to any other endorsements the Player may be interested in pursuing, and will not unreasonably withhold such permission. [/ QUOTE ] Also, one time payout of $50K for FT increasing to $100K for 2nd-3rd, just have to wear the FT gear during the ME. [/ QUOTE ] Obvously I'd take a deal like this in a heartbeat, but I would point out that its much more onerous than one would expect in a freely negotiated endorsement contract (although I do not know what's standard in the online poker endorsement world). For instance, one would expect the number of promotional events to be spelled out, and if you aren't an online pro, ten hours a week online week-in and week out over ten years could get really burdensome. Particularly if you have some other kind of life going on. Of course, for a million a year, perhaps you don't need any kind of other life... --Zetack |
#10
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Re: Lee Watkinson + FT Qualifier + Winner = $18,250,000
[ QUOTE ]
Player agrees to play a minimum of 10 hours per week at Full Tilt Poker.com, and to attend any promotional events or tournaments that Full Tilt Poker deems appropriate. [/ QUOTE ] basically you are their "boy" for each year. so does that mean you have to play wsop events straight through for 6 weeks? or go to the bulgarian full tilt european open? |
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