The announcement was just the latest bombshell from the troubled tour, which had notified players last week that the three remaining events on its 2006 schedule – representing $2.27 million in prize money – have been postponed for next year.
This development is expected to draw adverse reaction and protest from the tour’s 150 members, including Filipino icon Efren "Bata" Reyes, who ruled the IPT World 8-ball to win the top $500,000 purse (approximately P25 million).
Reyes, the top money winner in this year’s IPT Tour, is currenly seeing action in the World Pool Championship along with the world’s top players who competed in the IPT World 8-ball.
According to BilliardsDigest.com, the IPT players and their pool industry allies have began preparing for legal action against the IPT and even as they called for the creation of a players’ union that would bolster their position.
"What needs to happen is that all of us players need to come together and put a stop to this," said IPT member Charlie Bryant, who had yet to be paid his $25,000 in winnings from the World Open in an interview with BilliardsDigest.com.
Tour founder Kevin Trudeau had promised players their late prize payouts for weeks after the conclusion of the World 8-ball on Sept. 10. In an e-mail to players dated Oct. 23, Trudeau announced that a financing package related to the tour’s pending purchase by Asian billionaire Stanley Ho had been finalized, allowing prize funds to be delivered within the following week.
But on Nov. 3, IPT executives, including executive director Jon Denny and tour director Deno Andrews, began notifying players that they would be paid one-third of the money they’re owed from the World Open. Payments would come in three installments over two months, they said. "We’ve been instructed to tell players that that’s all that can be done at this time," Andrews told BilliardsDigest.com.
Trudeau was not available for comment at BilliardsDigest.com presstime.
Both Andrews and Denny insisted that the IPT was not preparing to file for bankruptcy, and that the company was moving forward with plans for a 2007 season.
"I continue to work on the television production, sponsors and sites for 2007," Denny said. "We are actively involved in 2007 and have had positive response from blue-chip sponsors." - Dante Navarro