Press Release from "The Players Tournament I"

Press Release from "The Players Tournament I" Rick Breden of Right Action Management released the following statement at 12:30 p.m. EST on Thursday, October 23, 2003. Many of you realize that "The Players Tournament I" could be the greatest event in billiard history. This event will no doubt generate international media and sponsorship attention, as well as elevate the professional standards of the game immensely. For once, players will earn the type of money other sports figures have enjoyed for decades.
Unfortunately however, I am no longer sure the players or the industry are ready to come out of the dark corners of the sports world and enter the light. Perhaps you prefer darkness and being broke. I've never seen anything like this in any industry. There is little or no trust among players. Everyone is terrified of being scammed, and newcomers to the industry like Right Action Management (which is composed of well-established business people), are treated like criminals trying to rip you off. When we formed Right Action Management (RAM), we researched demographics and realized there were over one hundred million pool players worldwide, almost all of whom were busted and desperately needing a real opportunity. We took our lead from the poker world and offered an event similar to the World Series of Poker, thinking that since there were exponentially more pool players than poker players, the tournament should be a cinch. Were we ever wrong. Immediately, people began to question our motives, were upset we wanted to make a profit, and thought we would either run off with the money or feared they would not get paid. Apparently, these are realities in the pool industry for which we, newcomers to the industry, are being blamed. Additionally, as part of our business plan, we set up an escrow account so that all of the players' money would be safe. If we did not have a tournament because you were too scared to step up, you would be refunded your entry fee. All of the expenses came out of our pockets. All of the risk to date has been shouldered by us, while the pool world sits idly, waiting to "see if this thing happens." Guess what-if players don't enter the tournament, we won't have a tournament. Then all the doubters can rejoice in being right and stay right where they are-scared, angry, and broke. Interesting also is the fact that the pool industry does not have a recognized and trusted organization that is set up to manage entry fees and payouts for large money events. Combine this with the fact that pool players sign up for events on the last day and you create a Catch 22 for big business. No serious organization is going to spend the hundreds of thousands of dollars to promote an event with no advance scheduling. Wake up, people. This problem has to change. A trusted organization like the BCA, for example, needs to hold entry fees in a trust account, and players need to sign up early for large events. With such a simple solution, everyone wins. Players would then know their money is safe. Promoters would then know their events are secure. We have learned the above lesson the hard way. But there is certainly hope. Because Diamond Billiards is so well trusted in the industry, we have asked them, at this late date, to step up and handle all tournament monies, including entry fee collections and payouts. Diamond Billiards has agreed to perform this vital function. Therefore, all checks should be made out to Diamond Billiards and sent to their corporate offices at 2043 Silver St., New Albany, IN 47150. Diamond's phone number is (812) 945-6665. A note of clarity here: "The Players Tournament I" is wholly owned and managed by RAM. Diamond Billiards has agreed only to provide tables and manage the monies as mentioned. Here's the bottom line: We need 200 entries to have "The Players Tournament I," and we need these entries by October 31, 2003. If we do not have 200 entries by the 31, the tournament is off, and we all lose. At that point, Diamond Billiards will return all entry fees to the person who sent in the money. I believe we all want this tournament to happen. With 200 entries, the following are the exact payouts of "The Players Tournament I:" 1st Place = 1 million dollars2nd Place = $125,0003rd Place = $50,0004th Place = $30,0005th -8th = $20,0009th-16th = $15,00017th - 32nd = $12,50033rd-64th = $11,000Total Prize Money = $1,957,000 (Based on 200 players, RAM has retained $43,000 to help offset expenses. This money will not even cover the room cost of the Pavilion at Caesars Palace. Therefore, RAM is taking a big gamble, and even with 200 players RAM will lose big time. But, most importantly, the event will happen, and next year we will all be in business. Also, if there are more than 200 entries, prize money will be adjusted accordingly.)We have brought this concept as far as we can alone, and now we need you to contribute. Are you really players? Do you have any gamble at all? We believe you do! "The Players Tournament I" is the beginning of the big time for pool. ARE YOU IN OR OUT? For more information, visit www.rightactionmanagement.com.Visit InsidePOOL for the latest in the sport of billiards and pool.

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