It might require a simple contract setup as a joint venture (attorney holding document), stating that anyone who falls away from the group due to NO SHOW or other excuses would forfeit their investment for a specific trip. Each tournament trip would be completely independent from prior events and arranged for a new group setup.
Each participant would be unique of course. Therefore, using this forum, everyone would have an input as to how it should be arranged.
Down the road everything would come together.
My idea is to set up a joint venture to share winnings. Lets assume that only one player out of 10 in the group wins a tourney. That one player would take lets say 50% of the net winnings (just as an example) and agrees on contract to share the remaining prize money with the others. Each player that finishes in-the-money would also do the same thing. The result would be, the losing players would go home with all or part of their trip paid for making it easier on the spouses. The winner would naturally have profited from the trip.
Any participant who is knocked out of a tourney first could be elected out of the group in future group ventures. Any participant creating problems for the group could also be eliminated from group participation. All of which would be stated in the agreement.
Eventually we will build a consistently winning group of players who get along and reliable. It will then become a true enterprise. Truely worth the effort especially if we hit a major tourney.
We can start off with the small circuit events leading to the big one. From each event we will all be asked to set a percentage of our winnings aside for the major event. Once we all each have saved the sufficient bankroll for the WSOP ($12000 or more), we then make plans for the WSOP trip with everything planned out, inclusive of entertainment.
If one of the members have a high roller status that would be very nice for all of us to use as a group.
Any other ideas are appreciated.
