Alex - FFPC
Footballguy
Congratulations to all who have won prizes in the 2010 FPC. Please see the final FPC Prize Stucture.
Here is what will happen over the next few weeks. Once all stats go final on Thursday, December 30th, we will begin recording all prize awards and prize winner name and emails. Prize winners will be contacted and notified of their awards at which there will be some options. In most cases, there will be a choice to request payment or apply part or all of the award as entry to the 2011 Footballguys Players Championship. For league champions, you will have a choice to take a free entry into the 2011 Fantasy Football Players Championship (FFPC) or take the cash option. Please read the Prize Distribution section from the Official FPC Rules for complete prize distribution information.
Footballguys Players Championship Prize Structure & Distribution:
The FPC prize structure is fully guaranteed, as set forth in the Prize section. The FPC reserves the right to expand entries without limit. As entries increase, prizes will increase accordingly. All participants will be notified of prize increases and prize structure will be finalized prior to the start of the FPC season.
Winners will be notified by email or regular mail within 10 business days after the final league and overall results are posted on the FPC web site. All award money will be paid in U.S. dollars and will be mailed out no later than January 24, 2011 to all participants that have provided their tax reporting information. All taxes associated with the receipt of any award are the sole responsibility of the winner. JDAD, LLC will pay 100% of all FPC awards directly to each winning principal participant unless a prize split is requested by the principal participant, as described directly below. All prize winners may be required to return via email or regular mail an affidavit of eligibility and a liability/publicity release (unless prohibited by law) within 14 days following prize notification. JDAD, LLC is not responsible for, or bound by, any agreement between the principal participant and any co-managers or group. JDAD, LLC reserves the right to substitute any non-cash award by cash or by an award of equal or greater value.
Prize splitting amongst principal participant and their co-managers is available. Co-managers must meet all FPC eligibility requirements as are stated in these rules to receive awards. The principal participant will always remain the sole legal prize winner and MUST authorize payment to his co-manager in writing. The principal participant will fill out and sign the authorization form indicating the name & address of his co-manager and the amount he should receive. Both the principal participant and the co-manager will each fill out a W-9. Once these documents are received and approved by JDAD, LLC, prize monies will be released to both parties. At year's end, both the principal participant and the co-manager will each receive IRS Form-1099 for their prize awards. The IRS Form-1099 will be issues for the fiscal year in which awards were won.
Limitations to prize splitting: prize splitting is limited to TWO persons only; the principal participant and the co-manager. Under no circumstance will JDAD, LLC issue payment to anyone other than these two persons. Only total prize awards of $2,000 or greater will be eligible for prize splitting. This may be a combination of any CASH prizes won in the FPC tournament, including league and overall prizes. Prizes won in the FPC may not be combined with any prizes won in the Fantasy Football Players Championship (FFPC) leagues and tournaments. Non-cash prizes are not eligible for prize splitting. Each share of prize split awards must be a minimum of $600. There will be a $25 processing fee charged for the transaction and will be deducted from the primary owner's share of the prize money. JDAD, LLC may, at its own discretion, refuse to accept any prize splitting request and process the entire award to the principal participant. Please email support@myffpc.com with any further questions regarding the prize splitting process.
If your prize winnings exceed $600.00, JDAD, LLC must file a Form 1099 with the IRS at the end of this calendar year. This Form contains the amount paid to the award winners. Award winners will receive a copy of the Form for tax purposes and are responsible for paying any taxes that result from your cash prize. JDAD, LLC will request the social security number (this will be kept strictly private unless required to be disclosed as a matter of law) of the primary participant to file the prize winnings with the IRS. The primary participant will fill out and sign an IRS Form W-9. Once this document is received and approved by the JDAD, LLC, prize monies will be released to the prize winner. At year's end, the primary participant will receive IRS Form-1099 for his/her prize awards. The IRS Form-1099 will be issues for the fiscal year in which awards were won. If Form W-9 is not filled out and returned to us in a timely manner, prizes may not be issued by our listed payout date of January 24, 2011. Please consult your income tax advisor for filing advice.
Here is what will happen over the next few weeks. Once all stats go final on Thursday, December 30th, we will begin recording all prize awards and prize winner name and emails. Prize winners will be contacted and notified of their awards at which there will be some options. In most cases, there will be a choice to request payment or apply part or all of the award as entry to the 2011 Footballguys Players Championship. For league champions, you will have a choice to take a free entry into the 2011 Fantasy Football Players Championship (FFPC) or take the cash option. Please read the Prize Distribution section from the Official FPC Rules for complete prize distribution information.
Footballguys Players Championship Prize Structure & Distribution:
The FPC prize structure is fully guaranteed, as set forth in the Prize section. The FPC reserves the right to expand entries without limit. As entries increase, prizes will increase accordingly. All participants will be notified of prize increases and prize structure will be finalized prior to the start of the FPC season.
Winners will be notified by email or regular mail within 10 business days after the final league and overall results are posted on the FPC web site. All award money will be paid in U.S. dollars and will be mailed out no later than January 24, 2011 to all participants that have provided their tax reporting information. All taxes associated with the receipt of any award are the sole responsibility of the winner. JDAD, LLC will pay 100% of all FPC awards directly to each winning principal participant unless a prize split is requested by the principal participant, as described directly below. All prize winners may be required to return via email or regular mail an affidavit of eligibility and a liability/publicity release (unless prohibited by law) within 14 days following prize notification. JDAD, LLC is not responsible for, or bound by, any agreement between the principal participant and any co-managers or group. JDAD, LLC reserves the right to substitute any non-cash award by cash or by an award of equal or greater value.
Prize splitting amongst principal participant and their co-managers is available. Co-managers must meet all FPC eligibility requirements as are stated in these rules to receive awards. The principal participant will always remain the sole legal prize winner and MUST authorize payment to his co-manager in writing. The principal participant will fill out and sign the authorization form indicating the name & address of his co-manager and the amount he should receive. Both the principal participant and the co-manager will each fill out a W-9. Once these documents are received and approved by JDAD, LLC, prize monies will be released to both parties. At year's end, both the principal participant and the co-manager will each receive IRS Form-1099 for their prize awards. The IRS Form-1099 will be issues for the fiscal year in which awards were won.
Limitations to prize splitting: prize splitting is limited to TWO persons only; the principal participant and the co-manager. Under no circumstance will JDAD, LLC issue payment to anyone other than these two persons. Only total prize awards of $2,000 or greater will be eligible for prize splitting. This may be a combination of any CASH prizes won in the FPC tournament, including league and overall prizes. Prizes won in the FPC may not be combined with any prizes won in the Fantasy Football Players Championship (FFPC) leagues and tournaments. Non-cash prizes are not eligible for prize splitting. Each share of prize split awards must be a minimum of $600. There will be a $25 processing fee charged for the transaction and will be deducted from the primary owner's share of the prize money. JDAD, LLC may, at its own discretion, refuse to accept any prize splitting request and process the entire award to the principal participant. Please email support@myffpc.com with any further questions regarding the prize splitting process.
If your prize winnings exceed $600.00, JDAD, LLC must file a Form 1099 with the IRS at the end of this calendar year. This Form contains the amount paid to the award winners. Award winners will receive a copy of the Form for tax purposes and are responsible for paying any taxes that result from your cash prize. JDAD, LLC will request the social security number (this will be kept strictly private unless required to be disclosed as a matter of law) of the primary participant to file the prize winnings with the IRS. The primary participant will fill out and sign an IRS Form W-9. Once this document is received and approved by the JDAD, LLC, prize monies will be released to the prize winner. At year's end, the primary participant will receive IRS Form-1099 for his/her prize awards. The IRS Form-1099 will be issues for the fiscal year in which awards were won. If Form W-9 is not filled out and returned to us in a timely manner, prizes may not be issued by our listed payout date of January 24, 2011. Please consult your income tax advisor for filing advice.
. Thanks again, Alex.
