When poker players make it to the final table of a main event, they are under tremendous pressure, especially if they paid the buy-in out of pocket. Those who got staked, are equally disappointed knowing that they will have to return a part of their profits to the one who made it possible to buy in at the prominent event. Amir Lehavot’s case is a special one, because the poker player bought in out of pocket yet he is willing to sell equity for the WSOP Main Event.
He made it to the final table with a healthy chip stack of 30,000,000, coming second of the chip leader and he has 80% of his World Series of Poker Final Table action. Lehabot announced that 10% will go to a good friend who supported him overtime, while another 10% will be given to his family. Basically, he has 80% left to do whatever he likes with and his decision is to sell 30% to potential investors.
In order to make the process as straightforward and transparent as possible, he chose to sell this equity at ICM value, so basically the 30% will be sold in chunks of 1% to those interested, as he announced on 2+2. The minimal investment required is $10,000, while 1% will be worth almost 3 times more and the payouts will include future winnings without the prize awarded for finishing 9th. Even if he gets eliminated the very first hand of the tournament he will receive this amount, which explains why he decided to subtract it from the sum.
Investors will break even if Amir Lehavot finishes third as they will enjoy a tiny return of $690 on their investment of $29,248. The poker player posted his stats so that those interested know exactly what they are paying for, and said that he is unwilling to change the price he is setting at. Ideally, he will sell the 30%, but in case the offers don’t arrive in time, he is more than willing to keep the entire 80% as he has no obligations and this auction is no priority for him.
Prospective buyers should also note that there are certain technical requirements such as submitting different forms for tax purposes. US residents and international buyers are subject to different taxes and Amir Lehavot reminded them that he will be collecting both wire transfers and tax information. On the bright side, tax information would only be necessary if he finishes third or higher as this is the only circumstance in which buyers make profit.