FTP deal expected to be closed next week

[Jools]

FTP deal expected to be closed next week

Laurent Tapie will need four weeks to get site up and running after resolution of legal issues.

http://www.egrmagazine.com/news/ftp_d..._closed_next_week

Anyone a member at this site to get the full article? it is a pay site I think.

[galty]

[sleepingtom]

please happen!!!!!!!!!!!!!!!!!!

[timped]

[tommymac]

http://www.pokerstrategy.com/news/wor...-Imminent-_57589/

[Koumari Boy]

[oneshotbob]

I do due diligence reports as a job. I would have LOVED to have been on this one.

I can't see why he would repay players. It just doesn't make commercial sense.
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@oneshotbobby on twitter

[peligruso]

Does anyone know roughly how much Is owed to players?

[darrensprengers]

[Uibhist a tuath]

[oneshotbob]

[Koumari Boy]

[JAKE900]

Firstly let me say i hope everyone does get their monies back (or at least close enough to be a reasonable outcome).

there are we few things we dont know and have to make semi educated guesses at.

how many players deemed as active or those that can be reactivated actually had money in thier accounts ?

of those how many had more than say, a few dollars ?

the reason these two questions are relevant is simple: it is likely that no more than 40% of 'actives' (those that play more than say 5 times a month, and that %age could well be much lower) had funds in the account, but merely deposited and played as the mood took them. also of those with 'shrapnel' accounts, that is to say small balances, how many of them can be tempted back with a 'under new management mega freeroll series' or something like that.

so how much does GBT actually have to pay out to players ? there must be weighting towards being more complete to higher rakers. but we have already been told that those with higher balances will be 'made whole' and offered shares or interest in the newly formed company, not actually thier money back. shares based on what value ?

this is going to come down to a numbers game. how much does GBT actually need to pay out to make the restart of FTP profitable over the next 2 years ? we already know that GBT got FTP at far less than it was worth.

how much of a %age of the player base needs to return (talking active or of value players not dormant etc obv) to make any purchase agreement and relaunch / associated costs worth it.

even an untrained eye can see its no higher than 50% as things stands. and most likely no higher than 25% given plans for growth and tie into ISPT (another dodgy as thing which just makes your skin crawl).

IF 30% of the players returned that would make them the size of the Ipoker network now, just to put it in perspective. the I poker network has been recently valued at just under $500 mil. so a returning 30% player base is profit for GBT then,,, so if they paid out 30% on the dollar,,, would that work ?

there is no law saying they reopen withdrawals at the same time as deposits, there is no reason they have to give everyone 100% reimbursement, they have already said they wont do that for all. so they will get some rake back for themselves from the money they give back to players, not a bad spot to be in.

one last thing to mull over: if they can relaunch in one month,, would they ?

unless completed already they wouldnt get into any of the magazines and poker publishing in that time frame. technically it is doable but one month is very short to do it properly such that no logical person would even think of it, and before everyone argues,, one month just simply wont and cant happen,,, so given this, why would they say that, another carrot ? like the one in December, the one in January, the one in feb, and mow march's carrot,, we will probably have a april carrot for the end of may for the WSOP (when you see that one you can know for a fact its a carrot as GBT coudlnt legally do that).

[The Dean]

[oneshotbob]

Option 1) Pay everyone back, hope they still play there. Start on minus $185m and whatever you paid for it.

Option 2) Buy the assets of the company, start again with a fresh reputation and offer a brilliant initial rakeback deal using the $185m you just saved. At least this way, you are giving $185m to players who will definitely play there.

Maybe i'm wrong, and I hope I am. I guess it depends how much money he's got. I know for certain that no bank will be lending him the $185m.
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@oneshotbobby on twitter