This can be said about any organization or company. Until it's tried how do you know?
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WCOFF: FINANCIAL ISSUES AND CONCERNS (1 Viewer)
- Thread starter Maroney=Speed
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FantasyTrader
Footballguy
http://www.fantasyplayersassociation.com/industry-news/nffc-raises-%E2%80%9Cprimetime%E2%80%9D-grand-prize-to-100k%E2%80%A6-offers-discounts-to-players-unpaid-by-competition/
For those that care who remain unpaid by the WCOFF, the NFFC is offering a 15% discount to you on any live event league and increasing their top prize to $100,000.
For those that care who remain unpaid by the WCOFF, the NFFC is offering a 15% discount to you on any live event league and increasing their top prize to $100,000.
This sounds like a winning business model with a lock out going on. Yikes.Just once I'd like to see one of these clowns (AFFL, WCOFF) rip off the wrong guy and get what they deserve.
What high stakes leagues are left without blemish besides the Players Championship here at FBG?
Raskell5
Footballguy
FFPC and NFFC....that's it.
Jeff Pasquino
Footballguy
Rotobowl has tried to become high stakes, but they're really "medium" stakes with a good first place payout. I can only speak from personal experience but they've always escrowed the money and never failed to pay out. They are also pretty good at marketing (getting ad revenues) but their live event will not take place this year (in year's past it was always in Atlantic City).There are some other contests out there too that haven't fallen apart. I believe Unlucky's leagues are still on solid footing.Truly a shame that all of these contests are falling apart, but I think three main issues combined to cause all of these collapses with big contests: 1. A combination of bad (and/or greedy) management 2. Rules to not make it gambling (such as you cannot tie a first place payout to a MINIMUM number of participants - a rule that FBG cleverly (and legally) maneuvered around with the escalating prize pool)3. The need / pressure to appease participants that the payouts are high enough as a percentage of all entry fees. It takes money, time, effort and resources to put together a big contest. A certain "rake" if you will has to happen in order to ensure that the events planned around a big draft party in Las Vegas, Atlantic City or anywhere else come off well. Websites, customer service, etc. all cost something. I'm glad to see that the remaining contests are still around, but those three items are major contributors to pressure on running a big contest. Unless you do it for the love of fantasy football (like the FFPC and FBG) or have big sponsorships (as I think is the case with NFFC and Rotobowl, but I can't swear to either) then it is a very tough "business" to operate.'Raskell5 said:
⚡DEADHEAD⚡
Footballguy
Unlucky doesn't have a high-stakes league but his leagues are legit.
Mr. Landry
Footballguy
The 30-45 day window of transfering ownership has come and gone. No real information has been presented other than the transfer is taking longer than was to be expected. No further timelines (or communication for that matter) have been given. It has been reported that Dustin, a part owner and the face of the WCOFF, has been facing some very serious health concerns, but it is unknown if that has any connection to the issues that have been plaguing the WCOFF for the last six months. However, they are accepting sign ups for next year's contest!'BusterTBronco said:
Yellow Line is Unoffcial
Footballguy
Yellow Line is Unoffcial
Footballguy
Well that went as expected. Any takers that I'll not be back here in August posting the fact that a month before the 2011 events that many of the 2010 winners will remain unpaid?
golfguy
Footballguy
good gravy. if i was owed that kind of money, i would have a huge lawsuit out there, if for no other reason then to keep other people from getting rolled over in 2011. i bet they are banking on 2011 revenue to pay off the winners from 2010 (because they blew through that money)
fatness
Footballguy
That seems obvious. Only the other hand they may abscond with the 2011 revenue also.
Yellow Line is Unoffcial
Footballguy
Two posts were made today by Jill on the WCOFF message boards, This is part of one that is not viewable unless you are a message board member.
On behalf of the World Championship of Fantasy Football, I hope you and your family are preparing to enjoy a wonderful July 4th holiday.
Normally this time of year, we are preparing to release the first round of draft positions for the upcoming World Championship of Fantasy Football Main Event. However the uncertainty around the CBA and the 2011 NFL Season has caused us to modify our typical schedule. Our current plan is to announce the first batch of draft positions on August 5th for all teams registered by July 29th.
Clearly a topic that is top of mind for everyone associated to WCOFF is the status of the transition of ownership of the business. As announced in late April, the WCOFF entered into a period of transitioning the business. Subsequent to this transition we expected to resume the awards distribution process as well as announce any changes for the upcoming season. While it is taking longer than originally expected, our team is still working towards completing this transition.
So, they plan on moving forward, the season starts in less than 70 days and many 2010 winners remain unpaid.
Same vauge language:
Transition of ownership, not sale.
Subsequent to this transition we expected to resume the awards distribution process.
On behalf of the World Championship of Fantasy Football, I hope you and your family are preparing to enjoy a wonderful July 4th holiday.
Normally this time of year, we are preparing to release the first round of draft positions for the upcoming World Championship of Fantasy Football Main Event. However the uncertainty around the CBA and the 2011 NFL Season has caused us to modify our typical schedule. Our current plan is to announce the first batch of draft positions on August 5th for all teams registered by July 29th.
Clearly a topic that is top of mind for everyone associated to WCOFF is the status of the transition of ownership of the business. As announced in late April, the WCOFF entered into a period of transitioning the business. Subsequent to this transition we expected to resume the awards distribution process as well as announce any changes for the upcoming season. While it is taking longer than originally expected, our team is still working towards completing this transition.
So, they plan on moving forward, the season starts in less than 70 days and many 2010 winners remain unpaid.
Same vauge language:
Transition of ownership, not sale.
Subsequent to this transition we expected to resume the awards distribution process.
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Yellow Line is Unoffcial
Footballguy
This is from the other post Made by Jill today.
We will have the satellite leagues available again this week, including the Super Satellite Schedule and the beginning of the World Championship of Online Fantasy Football drafts, $125 Satellites, $220 Satellites, etc.
We will have the satellite leagues available again this week, including the Super Satellite Schedule and the beginning of the World Championship of Online Fantasy Football drafts, $125 Satellites, $220 Satellites, etc.
FantasyTrader
Footballguy
Why can't he talk like a normal human being? "Clearly a topic on everybody's mind is when they will be paid their 2010 winnings. We expect to have new ownership up and running on X date and for people to be paid in full on X date". You only talk about "resuming the awards distribution process" when you're afraid to talk about money.
jimmy b
Footballguy
Poached from the WCOFS Message board today.
"On a more personal note, I wanted to update everyone on the status of Dustin's personal health situation. Many of you are aware, Dustin was diagnosed with stage 4 melanoma a few weeks ago. Days after being diagnosed, Dustin was in surgery and underwent a complete dissection to remove the tumor and all remaining lymph nodes in his right side. We're optimistic the cancer has been eradicated and he is on the road to recovery. Dustin and his doctors are currently evaluating further treatment options and I'll continue to provide updates as things progress. Dustin has received many very kind emails, letters and cards and wanted me to express his gratitude to everyone for their thoughts and prayers. "
This was posted by Jill on another string....
"On a more personal note, I wanted to update everyone on the status of Dustin's personal health situation. Many of you are aware, Dustin was diagnosed with stage 4 melanoma a few weeks ago. Days after being diagnosed, Dustin was in surgery and underwent a complete dissection to remove the tumor and all remaining lymph nodes in his right side. We're optimistic the cancer has been eradicated and he is on the road to recovery. Dustin and his doctors are currently evaluating further treatment options and I'll continue to provide updates as things progress. Dustin has received many very kind emails, letters and cards and wanted me to express his gratitude to everyone for their thoughts and prayers. "
This was posted by Jill on another string....
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Sudoku_in_the_Bathtub
Footballguy
Why don't these games some a bit of dignity in situations like this and fold up shop instead of trying to string people along year after year.
I'd imagine the Dustin hate mail far outweighs the love letters Jill mentions. People were owed $$ ~5 months ago, they don't care about 'health issues' that popped up for him in the last few weeks.
This isn't going to end well. At all. No one is going to break out a violin for the guy.
I'd imagine the Dustin hate mail far outweighs the love letters Jill mentions. People were owed $$ ~5 months ago, they don't care about 'health issues' that popped up for him in the last few weeks.
This isn't going to end well. At all. No one is going to break out a violin for the guy.
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footballman_696969
Footballguy
bump
Mr. Landry
Footballguy
Still nothing. It was strongly hinted (by people who appear to be close to Dustin) that an announcement would be made today opening the WCOFF back up for business and explaining the last four months. At least one staff member was seen lurking on the board, but it was business (and silence) as usual.
Dear Jill...karma is a #####. Trying being excellent to others next time.
Sabertooth
Footballguy
Why would you get into one of these contests? Seems crazy.
Yellow Line is Unoffcial
Footballguy
Its August, No updates, No Money. No surprise.
purestrength
Footballguy
What a freakin' disaster. The worst black eye this industry has ever experienced. I wish ESPN or some major news outlet would do a story on this. It deserves that kind of attention.
Mike
Footballguy
Came over to bump this asking for an update (and to inform others who aren't aware of the situation). I also went over to their board and read a post that is available to the public. beachbum's analogy seems pretty astute.
fasteddie_21
2006 NM Poker Champ
How has no one sued these POS's?
Sudoku_in_the_Bathtub
Footballguy
$$ is paying Dustin's "medical bills"
The sympathy card ain't working Jill.
The sympathy card ain't working Jill.
WOW, they are admitting they are a pyramid scheme and still trying to hook in more people.I really don't get how they aren't in jail.
Jacob's Ladder
Footballguy
Guy before me beat me to it, but this is a Ponzi scheme tried and true. What is going on here? How come these scumbags haven't been turned in to the proper authorities? It's unbelievable to me that that are being allowed to take in entries to fund past prize payouts. Wowowowow.
I've been wondering the same thing for the last 6 months. There are way too many people who have been jerked around. You'd think someone would have filed some type of suit.
they can't do too much. I mean they're a guy carrying a big stick to some, but they aren't the police or FBI or somesuch. I have trouble keeping up with the "powers that be" in the different fantasy organizations, but all-in-all I have often thought the world of the guys that lead such groups. I feel badly though if someone here expects a lean by the FPA to be anymore than them leaning on WCOFF folks.
To be honest, I (and many other folks here) were friends with the WCOFF folks that started the site/league. I'm shocked to hear this is happening.
Good people do bad things and make mistakes and such. I think their effort (reading above) to pay the baseball folks out is showing they aren't the AFFL scoundrels.
I'm not in anyway saying one should or shouldn't play this year, but (if it's the original guys still owning WCOFF) they'll get paid eventually. They must've dug themselves too deep a hole and made a mistake. I wouldn't be pleased, no doubt, but it me an iota of comfort to hear someone say this so I did.
ETA I have not researched this to offer any more of an opinion here. I tried to point out above exactly what I don't know.
From the link provided are these sentences:
industry veteran Ian Ritchie and original WCOFF co-founder Emil Kadlec in charge but with major acquisitions of this size, the devil was in the details and that particular deal is now off the table. Now it seems the saga continues as we wait for a new transfer of ownership to take place. What we’re about to share with you is a very unfortunate turn of events. The WCOFF’s principal front-man Dustin Ashby emailed “some” of their players this evening with a list of options available to them.
Dustin used to come here often IIRC so many of you probably know the guy.
I don't know Ian.
Emil is a top notch guy and I bet all of you have read his magazines too. I didn't understand the writing if Emil is getting involved again....that's what you want to see.
FWIW Jeff Thomas once owned Sportsbuff.com and sold it. It was very successful. The new owner ran it into the ground and ripped off plenty of folks. He bought it back, paid back the people(he didn't owe) to salvage the name and ...there have been good guys involved in messes like this whose behavior has been commendable.
My advice is to seach for facts as best you can
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I got email confirmation from RTSports that they do not have a contract with the WCOFF this year. Their online league sign-ups have gone blank after accepting registration for a (few?) weeks. I can't believe they have a couple of hundred people signed up for the main event(rollovers?) and it is actually going to happen. Doesn't pass the smell test for me and I am glad I'm not invested in it this year.
RhymesMcJuice
Footballguy
I don't get where the money goes either since the payouts are determined by the number of entrants. Must be a lot of embezzlement going on.
coolnerd
Footballguy
That takes some giant male body parts.
Anonymous Internet User
Footballguy
There were probably minimum guaranteed payouts that were not covered at some point in the contest, causing them to eat losses early on. That, in addition to unanticipated cost over-runs for software, hardware, and marketing all probably contributed more than malice. That still doesn't excuse their behavior.
Giants4Life
Footballguy
Go to the owner of WCFOFB's twitter account..http://twitter.com/#!/Dustin_Ashby
He doesn't have money to pay, but looking at his posts, has money to play fantasy football
He doesn't have money to pay, but looking at his posts, has money to play fantasy football
fatness
Footballguy
Is this him?http://www.golfersnetworkusa.com/site/thebacknine/article/dustinashby'ItsOnlytheRiver said:
It must be - Jill Mitchell is listed on the contacts page.
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Small world... I know the plaintiff in that case. What are the odds this isn't a ponzi scheme?
Grand Master B
Footballguy
sickening
