Lee Watkinson + FT Qualifier + Winner = $18,250,000

[Matt Savage]

Is this source confidential?

[/ QUOTE ]

Let me ask HIM...... That should narrow it down though

Matt

[AngusThermopyle]

[ 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.

[BradleyT]

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.

[NickyC]

[ 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]

[Zetack]

[ 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

[Zetack]

[ 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

[rsigley]

i wonder if they pay for travel to these offline promotional events

would suck to have to fly all over the world on your dime, even if you're making 1 mil/year

[Injection]

I read about this FTP bonus 10mil for Lee in his Pokernews profile last night, so it doesn't seem confidential. As other posters mentioned it's probably a promotional thing and will be paid out over a 20+ year period.. still makes for an interesting situation come the FT though.

[ImsaKidd]

I think Ft needs that 10 mil so their support stops sucking.

[MikeRice]

Gotta root for Lee based on his levelheadedness, table demeanor and his Barry G like dedication to monkey philanthropy.