Time To Pay The 2007 Winners

Greg Ambrosius · Post by **Greg Ambrosius** » Tue Sep 11, 2007 4:54 am

With three weeks left in the NFBC season, it's time to get the checkbook out and prepare to pay out over $800,000 in prizes. As our NFBC veterans already know, we try to pay our winners as soon as the season ends and get the prize money in the hands of the folks who deserve it. We don't need this cash anymore, that's for sure!!

So here's the game plan for the prize money:

1. Tom will send out W-9 forms to teams that have a shot at winning league prizes by the end of this week along with a self-addressed stamped envelope. We need you to provide your social security and then sign and date the W-9. We have all of your contact info on file, so you don't need to fill that out. However, if you have a new mailing address since the start of the season, please provide that new info and highlight it for us. The last thing we want is a winning check floating around in the postal system.

2. If you already have filled out a W-9 in the past for the NFBC or NFFC, you won't need to fill out another one. We should have that on file and thus you won't see anything in the mail from Tom. You'll get your check in the first batch of payments.

3. The goal is to send out the first batch of payments by Friday, Oct. 5th. The season ends on Sept. 30th and Tom and I will go through all of the leagues on Monday, Oct. 1st and get the paperwork to accounting. Our accounting office is now in Cincinnati, so we'll do our best to get the checks out by the end of the week. If it will take a little longer than that, I'll update the time schedule on this thread. You must have your W-9 back to us by Oct. 1st to get included in this first batch of payments.

4. We'll do our best to get checks out at the end of the week going forward, but do your best to get your W-9s to us as soon as you can. The sooner we get these the sooner we can get everything through accounting.

5. All prizes must be paid out in full by us no matter the size of the prize. I know it would be more convenient to just transfer your winnings towards 2008's NFBC entry fees, but unfortunately we can't do that here. We have to pay out every cash prize in full.

6. The 2008 Registration page will be ready to go on Monday, Oct. 1st for anyone who wants to secure a spot in the 2008 event. We'll have more details on locations, dates, etc. soon. For those who want to get in auction leagues and Ultimate Leagues that seem to sell out early, feel free to sign up online and we won't hit any credit cards until Feb. 15, 2008.

Good luck everyone the rest of the way and look for the W-9s in the mail soon. It's a good sign when you get one of those.

SluggoJD · Post by **SluggoJD** » Tue Sep 11, 2007 8:46 am

Looks like hard work really pays off

Spyhunter · Post by **Spyhunter** » Tue Sep 11, 2007 4:14 pm

First of all, I think everyone appreciates the effort to do the payouts quickly! Thanks to all the accounting people etc... who make this happen

Secondly, 800k in prizes? Starting to be some nice Interest Income there for you during the season there Greg... If NFBC goes even larger/national this number will start to creap up....

Walla Walla · Post by **Walla Walla** » Wed Sep 12, 2007 8:00 am

Not that I expect to win any money. But if it

did happen could you just hold it for payment on next years contest?

Quahogs · Post by **Quahogs** » Wed Sep 12, 2007 8:44 am

Originally posted by Walla Walla:

Not that I expect to win any money. But if it

did happen could you just hold it for payment on next years contest? Walla, see above - Greg's response:

5. All prizes must be paid out in full by us no matter the size of the prize. I know it would be more convenient to just transfer your winnings towards 2008's NFBC entry fees, but unfortunately we can't do that here. We have to pay out every cash prize in full.

Greg Ambrosius · Post by **Greg Ambrosius** » Wed Sep 12, 2007 10:39 am

Originally posted by Walla Walla:

Not that I expect to win any money. But if it

did happen could you just hold it for payment on next years contest? I'd love to, but I've been over-ruled here. They want a paper trail of every payment coming in and going out. Sorry.

Walla Walla · Post by **Walla Walla** » Thu Sep 13, 2007 6:15 am

So if if someone wins a free entry from a winner take all league they have to receive your check.

Than they have to deposit it and than charge thier credit card and than transfer the money to the credit card. So its not really a free entry its just for 1300. Got it!

Tom Kessenich · Post by **Tom Kessenich** » Thu Sep 13, 2007 7:50 am

Originally posted by Walla Walla:

So if if someone wins a free entry from a winner take all league they have to receive your check.

Than they have to deposit it and than charge thier credit card and than transfer the money to the credit card. So its not really a free entry its just for 1300. Got it! If you're in a league that rewards the free entry, that is what you receive. You don't receive a check for $1,300. You get the free entry for the following year.

Greg Ambrosius · Post by **Greg Ambrosius** » Thu Sep 13, 2007 10:35 am

Originally posted by Walla Walla:

So if if someone wins a free entry from a winner take all league they have to receive your check.

Than they have to deposit it and than charge thier credit card and than transfer the money to the credit card. So its not really a free entry its just for 1300. Got it! John, as Tom said, if you win a free entry you can certainly take the free entry and not the $1300. You win what it says, a free entry into the main event. No checks are exchanged. Thanks for asking as I'm sure others were thinking the same thing after my earlier explanation.