Ok here is the deal. I was asked to participate in a series of tournaments which the final grand prize is a seat to the main event in the 2009 World Series.

10 People for 20 weeks at $50 a pop. In other words 10 x $50 = $500 per week; $500 x 20 tournies = $10,000 ME seat at the WSOP.

I suppose they will have some kind of a point system to keep track of who is ahead. In other words maybe something like this:

1st Place in 1 Tourney = 3 pts.
2nd Place in 1 Tourney = 2 pts.
3rd Place in 1 Tourney = 1 pt.

Most points at end of 20 tournaments wins the ME 2009 WSOP seat.

Now bear with me because I don't know how exactly they will keep track and I am working on limited information thus far but I have tentatively been asked to join this group.

All the money in otherwords would go into someone getting a seat for the WSOP ME.

Second part is this. Once that person gets into the WSOP ME, if that person cashes he/she will keep 50% of all winnings and remaining 50% will be divided amongst the other players in the group.

Example:

Winner cashes at ME for $40,000.
Winner takes home $20,000.
Rest of money is split 9 ways for $2,222.22 each amongst group.

Does this sound like a good idea or not? What sort of structure should I recommend here? Does my point system work here ok or is there a better suggestion I can make to them? What do you think of it? Is this something that I should accept and participate in or what? This sounds like it could be fun but you never know if it is worth my while. Anyone give me some advice on this and whether I should accept or not?

Just so you know, this would be with virtual unknowns but most of them are retired so maybe they are all skilled grinders here. I have no idea what everyone's skill level is here. This is against complete unknowns and I have no information on them at all.

If you think you're the best there and you don't know them, bad deal, you will most likely make it and then have to split any winnings. If you're all friends and/or decent players this sounds fine. But because the ME is a steep structure I wouldn't do 3-2-1 points I'd do like 5-3-2.

You'll find attendance will sharply drop halfway through as people who realize they have no shot of winning stop playing.

I ran a league last year for four $1500 seats, and am doing another this year for six of the same. This year I've adjusted for many of the problems encountered last year. I'm too tired to type up details right now, but I've posted extensively about it if you feel like searching before I get back to it.

Okay, found the threads.

Original Post
Follow-up

Reading your post again, I see I misunderstood your level of involvement in creating the structure. Still, we're five games into ours and three full tables every time, so might be some useful info in there to consider.