Quote:
Originally Posted by moki
...except that he's had to re-deposit numerous times (sitting out after being felted, with a 0 balance, and rebuying to odd amounts when stacked, indicating the end of his online roll), and it has been known that he has taken loans from a number of players. None of which he'd need to do if his account was stuffed with funny money.
Not sure what you´re talking about. It seems pretty obvious that when your contract says you´re paid $Xm per year, the payment wont be made in a single transfer, but rather on a monthly basis. Gus probably received $XXXk per month and people knew this, hence giving him pretty much infinite credit.
As for the money he received from FTP, I think you have to look at the time line. If you look at the web site of FTP, it seems like the name Gus Hansen first popped up as a part of Team Full Tilt in August 2006.
http://web.archive.org/web/200608101...tiltpoker.com/
FTP wasn´t all that big back then, but the Online Poker market was pretty much at the peak of the boom which was killed off by UIGEA in October 2006.
http://www.pokerhistory.eu/poker-sta...y/2006?month=8
This was back when the stock of Party was 12 times higher than it is today.
Gus was probably the biggest name on FTP back then, except maybe for Phil Ivey (lol Lederer), and the contract was signed at the very peak of the market, so FTP must have given him a rather fat contract.
It seems pretty reasonable to assume that FTP, for cash flow / liquidity reaons, would have given Gus a deal that wouldn´t focus on cash only, but rather some cash and a percentage of the company (same for all of Team Full Tilt).
I wouldn´t be surprised at all if FTP payments covered the vast majority of what Hansen has lost on FTP up until today. Just look at the payments forwarded to Howard Lederer, Chris Ferguson or Phil Ivey, who received just about $40m each.
Last edited by mumpfmampf; 08-27-2014 at 07:49 AM.