Quote:
Originally Posted by BalugaWhale
DoTheMath;
Why not escrow the money? It gets paid to GBT when the sale is finalized, it gets put into the US-player refund pool if the sale falls apart.
Andrew
Everyone keeps shouting "ESCROW!" I'm fairly sure that's precisely what GBT's lawyers proposed to Barry; he turned them down. The lawyers didn't call Barry up and say "Oh hai, can we hav sum moneez...that we get to keep if the deal doesn't go through?" No, there was surely an escrow arrangement proposed, and Barry would get his money back if there was no deal (and then he can use it for whatever he wants; give it to the DOJ to help pay U.S. players, light it on fire, whatever). Reading between the lines of Barry's first post that much is evident (reduction if US players are not paid in full, etc....)
Everyone saying "why should he pay GBT, they don't own Full Tilt yet!" needs to realize that the repayment would obviously be conditioned on the deal going through; that's how these things work. You think GBT would just keep the money if the deal gets scuttled, saying "oh sorry, we decided not to buy FT, thanks for the 400K"?
An escrow arrangement is probably what was offered. Barry told them to pound sand.