[iceberg]

I think that he will lose half his winnings to Leyser (leaving him 6 mil), 40% to the IRS (leaving him 3.6 mil) and a bunch to the lawyers. I think that the greed bug was in him and now the sharks are circling. He should still make quite a few dollars from promotions.

[KPRS1]

Exactly even if he does lose half plus lawyer fees etc he will end up having some poker room offering him $$ to promote them and play there. He wont be worrying about cash flow problems anyway thats for sure.

[Lytspeed]

Originally Posted by iceberg

I think that he will lose half his winnings to Leyser (leaving him 6 mil), 40% to the IRS (leaving him 3.6 mil) and a bunch to the lawyers. I think that the greed bug was in him and now the sharks are circling. He should still make quite a few dollars from promotions.

I was thinking of a different scenario:

IRS takes 40% off the top, leaving him $7.2 million.

Depending on whether his deal with Leyser was for gross winnings or net winnings, he either pays Leyser $6 million (leaving him $1.2 million) or $3.6 million (leaving him $3.6 million.)

Same with Johnny Chan. If we're talking 10% of gross, he owes JC $1.2 million, leaving him nothing, or $720,000, leaving him $2.88 million. It all depends on whether they make the division before or after taxes.

Of course, there will probably be an out-of-court settlement that will resemble none of this, in which case you can just ignore this post.

[ssmooth8]

I could see why he would have to pay his business partner but why Johnny Chan? Sure if he did give him lessons doesn't mean he owe's millions for it. Lessons are lessons just as if you were to pay somebody such as an NBA player who hosts a basketball camp. It is definitely uncalled for depending on how much he is asking for. How could winning feel so bad? That must really suck for him but hey I guess that's life.

[iceberg]

Say what you mean AND mean what you say. The recording is very persuasive evidence and he should know better than that in that industry.

[Irongirl]

Well the taped recording apparently says..... "you can use this tape as my word" or some such thing so it almost appears that Gold was guaranteeing Leyser his share. This was only hours before the final table. At that point Gold was already a millionaire.

I wish Allen Cunningham had managed to bring the win home. He is good for Poker. Jamie Gold.... the jury is out but I believe he will prove to be the most unpopular WSOP champion to date. His whole resume has had holes shot in it. check out the Hollywood blogsite. Defamer.com

[Bubble00]

I dont think a verbal agreement like this could be proved lawfully through the recorded tape. isnt it against the law to record someones conversation without a warrant? -Bubble00

[Lytspeed]

Originally Posted by Bubble00

I dont think a verbal agreement like this could be proved lawfully through the recorded tape. isnt it against the law to record someones conversation without a warrant? -Bubble00

Since Gold left the message on Leyser's answering machine, that indicates that Gold knew he was being recorded. I don't know the rules of every state, but I know in my state, it is legal to record a conversation if at least one party knows the conversation is being recorded.

Since Gold knew that he was leaving a recorded message, I think the evidence should be admissable in court, but I'm not a lawyer. 123Law, what do you think?

[Thinkerbell]

In a small claims court, the burden of proof is less than in a criminal court. But looks like the amount is waaaaay over what any small claims court would have as a limit. (Boy, I'd user love to either have millions to be sued over, or have a stake in somebody else's millions to sue them for!)

The bottom line is in any deal, GET IT IN WRITING!!!! People think a verbal contract will work, but the hard part is convincing a judge that the contract existed at all. If the other party denies it, the judge may find that there was no contract. And your verbal agreement just disappeared into thin air.

I think the tape will hold up as evidence. And shame on anybody who doesn't keep their word!

[Irongirl]

Some of the alleged wholes in Golds resume have been patched. The current manager of James Gandolfini (Tony Soprano for those without a HBO) sent a later stating that Jamie Gold did in fact work on the Gandofini account as a new agent and confirmed that Gold did represent some of the other clients mentioned such as Felicity Huffman. The list was rather impressive.

Ive also heard that Gold has a deal with Bodog to have his own private table on the site which he will play on, buyins for major poker tourneys and a lucrative endorsement deal.

I say be a man of your word and work out some sort of settlement that is agreeable to all.