Scott Fischman rumor

El Diablo · #1 03-02-2006, 10:39 PM

A very respected and well-known top tourney and cash game player told me the following:

Apparently, Thomas Keller backed Scott Fischman for 400k in tourney buyins since August of last year.

The deal was 65/35 to Fischman w/ makeup. Which means that Keller gets paid back whatever buyins he stakes Scott for, then Scott keeps 65% of the profits.

At some point, another guy offers Scott a staking deal. Scott takes that deal, leaving Keller out 400k, with no payback when Scott hits his next score.

Now, apparently Scott claims there was no makeup condition in this staking arrangement, and Keller claims otherwise.

So, there you have it. This is unsubstantiated rumor, but hey NVG, baby!

roundmound · #2 03-02-2006, 10:42 PM

To think a guy that hangs out with an upstanding citizen such as Dutch Boyd would stiff someone for 400K.

dwedeking · #3 03-02-2006, 10:45 PM

Why would you go into a 400K deal without a written contract spelling out the details of the deal?

Dan Wedeking

Kneel B4 Zod · #4 03-02-2006, 10:50 PM

is there a good reason to ever stake a poker player, instead of investing in some alternate vehicle where there are actual written contracts and laws?

Mason Malmuth · #5 03-02-2006, 10:52 PM

Hi Masked Man:

Whether this is true or not I don't know. But if someone is dumb enough to make the deal you described, then I have no sympathy for them if they get taken advantage of.

Best wishes,
Mason

MightyMouse2 · #6 03-02-2006, 11:02 PM

[ QUOTE ]
Hi Masked Man:

Whether this is true or not I don't know. But if someone is dumb enough to make the deal you described, then I have no sympathy for them if they get taken advantage of.

Best wishes,
Mason

[/ QUOTE ]

mason,

your logic is faulty. if st. louis traded albert pujols for someone not as good lets just randomly say trot nixon, would it be okay for boston to keep trot after they got pujols, because they were ripping off STL anyway??

Mason Malmuth · #7 03-02-2006, 11:06 PM

Hi Mouse:

One problem with these deals is that if the horse does poorly and gets in a big hole, and there is always some chance this will happen no matter how well he plays, he will then be playing for nothing because even if he does well in a tournament, all the money will go for making up the entry fees.

Best wishes,
Mason

LozColbert · #8 03-02-2006, 11:08 PM

I don't think your logic is better.

snowbank · #9 03-02-2006, 11:08 PM

[ QUOTE ]
Hi Masked Man:

Whether this is true or not I don't know. But if someone is dumb enough to make the deal you described, then I have no sympathy for them if they get taken advantage of.

Best wishes,
Mason

[/ QUOTE ]

Mason,

Based on your comments, I would like to hear your thoughts of what a good deal would be.

Bill

El Diablo · #10 03-02-2006, 11:40 PM

d,

Upon being told this, my intial reaction was "WTF, these guys get into long-term deals like this with no contract? A half-page term sheet is really all they need!" and was told by multiple sources that this is VERY commonplace among the tourney pros who get staked (and that's a lot of them).