Investing in Greg - the big payoff and IRS

[Toro]

Signed contract notwithstanding, his backers must have a tremendous amount of trust in him as an individual as it would be quite easy to under-report live game winnings since there are no records.

[charlie_t_jr]

you have been more than forthcoming and open in responses to questions, about things nobody really has any business asking. You must be hell of a nice guy.

Congrats, and good luck in the future.

[Sundevils21]

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If anybody asks again, please refer them to this post for me. ;-)


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I miss the "OFFICIAL" titled threads. Just kidding, I hope they never return.

[TPR]

Greg---I have a question that I hope you will respond to concerning your double shootout win on Pokerstars for the seat. When you were headsup and outchipped about 3-1, you proposed a deal to your opponent of 5k for the WSOP package. He responded---7k. You eventually offered $5800, but he didn't come off of the 7k, so play continued. You simply outplayed him from that point on and won when you caught the case queen on the river to beat his flopped straight. Afterwards, I e-mailed my brother explaining the turn of events and suggesting the counter offer I would have made to you if I had been your opponent. Here's the proposal and tell me if you would have accepted it at that moment in time and if not, why not. I will accept your offer of $5800 on one condition, that you pay me 10% of any cashout you make in the championship event. If you don't cash, then there is no further payment. Would you have countered this offer, accepted it or continued to play at that time? Thank you

[Greg (FossilMan)]

I would not have accepted it. It just makes things too complicated, what with my backers and all. I would've countered. Once negotiations start, I never stop making offers unless it is 100% clear that I'm never going to get a deal that I want to take.

Later, Greg Raymer (FossilMan)