| Louis Blair 2006-02-26, 7:33 pm |
| Phil Innes wrote (Wed, 22 Feb 2006 23:07:23 GMT):
quote:
> Shall we assume this will be a similar to [Joel Channing's]
> previous offer to post his own analysis of the ChessCafe deal
_
Joel Channing DID at one point offer to "have [USCF] staff
prepare [for Larry Parr] a month-by-month cash projection
of sales figures and comission payments from the beginning
of the Chesscafe contract until [the date of the amendment]."
_
This turned out to not be quite what Larry Parr wanted.
("a calculation [for the full duration of the first contract],
broken down by month, of what Hanon Russell would
have owed under the first contract as opposed to what
he owes under the new contract.")
_
Joel Channing suggested that he "address any specific
ChessCafe information requests to the ED", and also
added:
_
"the original Chesscafe agreement guaranteed
that USCF would receive a minimum if $350,000
per year, even if the commissions on gross sales
didn't warrant it. ... the outcome [of the
settlement] was that:
_
(a) roughly 50% was warranted by commissions
on sales and we've received it,
_
(b) 25% was forgiven, and
_
(c) of the remaining 25%, half was paid last
month and half is due next December." - Joel
Channing (15 Jan 2006 15:43:00 -0800)
|