Quote:
Originally Posted by RunItUp
he's not taking into account GBT, i'd love to hear why you omitted that piece of the puzzle from your argument
Sure. For two reasons mostly, the first being simple omission, and the second being the weight of its significance:
1) First, it is not a confirmed deal. It's merely just speculation and interest of an investor, and until that ball is rolling for real, the mere speculation won't change anything I've spelled out.
2) If the Tapie group does officially acquire the FTP entity, it completely changes the game.
Here is the straight: Tapie Group acquiring FTP would be the absolute greatest thing for the players and their quest for getting some kind of relief, next to the pros giving back their 16 mill. It baffles me how so many people are against GBT.
Bernard Tapie made his fortune on acquiring bankrupt businesses and reestablishing them, and then selling them off for massive bank. Similar to someone buying condemned houses, fixing them up, and turning them around for large profits. If there is anyone who I would want to turn my business around it would be this guy. This group's interest is a huge ray of hope for the players.
In GBT's business, taking on a bankrupt company obviously means taking on its debts. However, it also means acquiring its lines of credit. Many of those lines of credit fail to make good, but usually this does not stop the acquisition. However GBT has determined that the 16 million in credit lines that are owed by the pros are lines that it refuses to write off as loss and intelligently so. GBT knows that the pros have the money, and they also know that they have the poker community as an extra leverage to encourage them to pay up. This is totally reasonable, and makes business sense.
As far as that BS about GBT trying to scam or looking shady by having Greenstien pay directly to them, I promise you that scamming a few dead beat loan recipients for 16 million is nickels compared to the amounts they make if they legitimately rebuild FTP and sell it off. Ripping off players even more and shaking the already agitated hives nest is not their aim.
For players to get paid, it requires a source of money. And an investment group that is notoriously successful at rebuilding bankrupt companies sounds awfully god damn good to me.
My biggest question to all of those who have argued against me about players getting paid has been where are hundreds of millions of dollars going to come from? No one has an answer for this. Putting it in the hands of GBT and letting them work their magic is a gamble I'm willing to make.
And if deadbeats like Greenstein and the rest refuse to pay up their lines of credit, and GBT decides to walk away because of it, it will be a very sad day for the players because that was their shot. And people like Greenstein, who are out nothing by all of this, will have nailed the coffin shut on screwing the players over.
Once again, GBT or not, it all rests contingent on people paying their god damn debts.