jncuse
I brought the Cocaine to the White House
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I would have to think they are guaranteed to make at least $9 million or there would be some sort of fraud/fraud in the inducement liability. It would depend on how they officially market it, I suppose; i.e. are the playing for "up to" $9 million, "exactly" $9 million or "at least" $9 million?
The money here, as you state above, is a material inducement for the players, but it's also a material inducement for the consumer. If the public was told that they were simply playing a $10 Nassau with $5 dots and $2 snakes, I think it's safe to assume the level of interest would be significantly lower than it is currently.
If the TBT ultimately cut a check to the winners for less than the promoted $2 million because revenues disappointed, they'd be in a lot of trouble I believe. If Phil or Tiger ultimately walked away with well less than the promoted amount, the public would feel duped.
On a side note, I guess it would be very hard for the interested parties to insure this event given the lack of precedence.
#1. I agree it is a material inducement for the consumer to show they care, and it is necessary... but my point was when money is the prime inducement it loses lustre. Hatred between the players would have worked, but it really does not seem to exist anymore.
#2. I honestly do not know enough about the law, so I assume you are correct about fraud. Could a company owned by Phil Mickelson and a company owned by Tiger Woods be the primary backers of the event (ultimately having to cover the losses or gains) So Phil or Tiger ultimately get paid $9 million, but the losses on the event are picked up by the companies. That would actually be more interesting to me since one man could actually lose money out of this contest.
I am having a hard time seeing the value proposition for someone to "own" the event, which I suppose is why I am coming up with these schemes. If there are limited eyeballs at the event and PPV, its not like sponsors will pay that much for the event.
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