FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)

[___1___]

Originally Posted by Jeff Ifrah

No, I cannot confirm this and do not believe it is true. I am not aware of a satisfactory deal that has been offered and rejected. The company statement will address this in more detail.

Thanks for the reply. One last question. Has any deal been offered that would have fully covered all player balances (after payment for any DOJ obligations)?

[XaQ Morphy]

Originally Posted by NoahSD

FTP says they've agreed to start issuing statements about their situation.

They say they'll first release a statement early next week (the week that starts August 29) on what the company is doing right now. Next, they'll release a statement on the deposit shortfall. After that, they'll release a statement on the seizures.

They plan to continue releasing statements after that, though they haven't chosen topics for those yet.

So in other words:

"Full Tilt Poker is diligently working on facilitating the withdrawal of funds for US Players. This is our top priority and we’ll have a further update in the week commencing Monday, August 29th."

Morphy

[WhoWhoOwl]

Hi Jeff, why has it come down to FTP needing to find an investor to pay players? Did they dip into player accounts to pay for operational costs? Will owners liquidate personal assets so we can be paid?

[ildent]

Hello Mr. Ifrah
Can you say to us how many real potential investors are nowadays in talks with FTP executives?
Thanks

[OnWithTheShow]

Originally Posted by Jeff Ifrah

No, I cannot confirm this and do not believe it is true. I am not aware of a satisfactory deal that has been offered and rejected. The company statement will address this in more detail.

Any deal that would of paid players their money was MORE than satisfactory.

If you define "satisfactory" in this way, can you answer the question again?

[i_am_fish1]

Originally Posted by Jeff Ifrah

Since FTP started the process of speaking with outside investors that has been their entire focus 24/7. They have made crystal clear to every investor that the US players and European players must be paid. I don't understand what you mean in your last question by "lower"?

By lower i meant: are there fewer interested investors now and are they offering less money in the deals now because the FTP brand as a whole is less valuable now, or are there still plenty of investors and its just a matter of time?

[Jeff Ifrah]

Originally Posted by EYESCREW

Hey Mr. Ifrah,

I have two questions.

Is there any chance of all players getting paid without an outside investor providing a significant cash injection into FTP?

Is it known what date FTP will be absolutely forced into receivership if an outside investor has not been found?


Thank you for taking the time to try and answer our questions,

Mark

Personally speaking, yes, it will be very difficult for the company to meet all obligations without the help of an investor. Future statements will make clear why this is so. I do not know the answer to your second question.

[Jeff Ifrah]

Originally Posted by i_am_fish1

By lower i meant: are there fewer interested investors now and are they offering less money in the deals now because the FTP brand as a whole is less valuable now, or are there still plenty of investors and its just a matter of time?

I define "satisfactory" as satisfactory to you the customers. No, I have not seen an impact of the sort you describe. The company will address this in its next statement.

[bear187]

Originally Posted by NoahSD

Now, if they get cold feet, they'll have to decide between breaking a promise or going ahead as planned.

and as we all know FTP would never break a promise.... lol had to say it

[mersenneary]

Are you the sort of person who would take this job if FTP were dead in the water and highly unlikely to be able to pay people back?

If I am understanding you correctly, no deal has ever been proposed that would pay people back. What reasons, if any, do people have to be optimistic about their money despite this? Why would such a deal come now and not back in May?


Thank you for answering questions and being available to the public, it's really appreciated.

[synth_floyd]

...and the next "statement" is when?

[Jeff Ifrah]

Originally Posted by ___1___

Thanks for the reply. One last question. Has any deal been offered that would have fully covered all player balances (after payment for any DOJ obligations)?

These are precisely the terms of any deal. Anyone who has been or will be at the table has been in discussions regarding these terms. The company will address the status of these discussions in its statement.

[elstunar]

hey jeff, just want to say thanks for coming in and answering questions, it is a breath of fresh air to actually have someone that is involved with ftp who might have some insightful information rather than all these randoms chiming in with their "secret inside info"

[irockhoess]

Jeff, if not to stall us, what is the reason for spacing on the announcements on topics that have already been established and don't seem liable to change between now and said announcement?

To put another way, the statement topics Noah listed are all quanities known by FTP for quite some time, yet we are supposed to wait for each announcement consecutively to placate us like it's the 5th season in Lost? Other than a slap in the face, what is the official explanation for this?

[Jeff Ifrah]

Originally Posted by mersenneary

Are you the sort of person who would take this job if FTP were dead in the water and highly unlikely to be able to pay people back?

If I am understanding you correctly, no deal has ever been proposed that would pay people back. What reasons, if any, do people have to be optimistic about their money despite this? Why would such a deal come now and not back in May?


Thank you for answering questions and being available to the public, it's really appreciated.

Sorry, what do you mean by this "job?"

I don't think I was clear. Every deal requires the players to be paid. A deal has not closed yet but that is not because of the existence of such a requirement. Again, the company will specifically address this in its statement early next week.