Post by dpbarnes on Oct 7, 2006 17:00:30 GMT -5
PFW INVESTIGATED BY IRS
Accused of Falsifying Tax Records; Exaggerated Fan Attendance Numbers
DAYTON, OH—Just as the 3-month old independent wrestling promotion was making plans to start touring other cities, Promoter Fantasy Wrestling came under audit by the Internal Revenue Service, accusing the promotion of falsifying tax records by exaggerating the number of fans attending the shows. IRS Agent Michael Cooke was quoted as saying; “We were alerted to possible exaggerated gate sales during a routine monthly inspection of PFW financial records. It’s highly impossible that a small independent organization with a budget of nearly nothing three months ago to boasting a fan attendance at their last show of 8,000 people, when other independent promotions, such as the Heartland Wrestling Association near Cincinnati, have been in business between 5-6 years and barely seat 100 people per show, including road trips and television tapings.”
Over the next several weeks, the IRS will be looking into all of PFW records and making the “proper” adjustments, meaning that every wrestler and teams’ income will be lowered to reflect actual fan attendance levels,
(OOC): I really hate doing this to everybody, but as I keep looking at the numbers that Graymar gives in his Business Model System for calculating New Fans Earned, it seems to me that the numbers are just too high for Fan Draw in an indy promotion, so I decided to play around with the numbers in PFW to better reflect Fan Draw. I thought of this "storyline" to give a hopefully plausible explanation as to what I'm about to do. Hopefully, it will alleviate the problem I’ve had of worrying about whether or not an actual arena’s going to fit the number of fans attending. After all, you have to admit, in three month’s time going from 0 to 8,000 fans for an independent promotion seems pretty far-fetched. At the current Fan Draw rate, there’d be no arena in the United States or the world, indoor or outdoor, which could hold a PFW show. Therefore, these are the new numbers I’ve come up with. Bear in mind that in the coming weeks, everybody’s Merchandise and Logo Pay will be adjusted to reflect these new figures. (I hope nobody gets p****d off at me for doing this, because that was not my intention.)
I. New Fans Earned for Regular Matches
A. Television Tapings/House Shows
1. Win – 2
2. Loss – 1
B. Pay-Per-Views
1. Win – 4
2. Loss – 2
II. Titles
A. PFW Heavyweight Title
1. Defended at least once a month
2. Ranks 1-5 eligible to challenge
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 25
b. First-Time Win, PPV – 50
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 15
d. Successful Title Defense/Re-Capture Title, PPV – 25
B. PFW US Heavyweight Title
1. Defended at least twice a month
2. Ranks 6-10 eligible to challenge
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 15
b. First-Time Win, PPV – 25
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 10
d. Successful Title Defense/Re-Capture Title, PPV – 15
C. PFW Hardcore Title
1. Defended at least weekly (tentative)
2. Open only to those in Hardcore Division
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 10
b. First-Time Win, PPV – 20
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 5
d. Successful Title Defense/Re-Capture Title, PPV – 10
D. PFW Tag Team Titles.
1. Defended at least once a month
2. Open only to those legally recognized teams in PFW
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 20
b. First-Time Win, PPV – 40
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 10
d. Successful Title Defense/Re-Capture Title, PPV – 20
III. Wrestler/Team Pay
A. Pay-Per-Draw
1. TV Taping/House Shows - $.50
2. PPV - $1.00
B. Formula for Determining Merchandise Pay
1. Total Draw (TV Taping/House Show + PPV) * Sales Modifier * $10.00 = Gross Sales
2. Production Cost = ½ of Gross Sales
3. PFW Pay = ½ of Production Cost
4. Merchandise Pay = ½ of Production Cost
C. PFW Logo T-Shirt Pay
1. Fan Attendance / Number of Participants (Teams count as one participant) = Average Draw
2. Average Draw * Sales Modifier * $10.00 = Gross Sales
3. Production Cost = ½ of Gross Sales
4. PFW Pay = ½ of Production Cost
5. Logo Shirt Pay = ½ of Production Cost
6. Individual Logo Shirt Pay = Logo Shirt Pay / Number of Participants.
a. Any amount left over is given to the PFW Heavyweight Champion as a “Champion’s Bonus”
(Again, it's not my intention to p**s anybody off for changing the Draw numbers adjusting the Merchandise and Logo Pay to reflect the changes, only to present a more accurate representation of fan attendance in respect to independent promotions.)
OOC: I tried to re-adjust everybody's merchandise and logo pay while I was out doing my laundry, but I gave up and decided that it'll be too much hassle to do the retro-adjustments, so I'm going to let everybody who earned merchandise T-shirt pay keep what they earned, and everybody who earned logo T-Shirt pay will keep what they've earned, as well. I'm just going to go ahead and base future earnings on the new Draw numbers.
Accused of Falsifying Tax Records; Exaggerated Fan Attendance Numbers
DAYTON, OH—Just as the 3-month old independent wrestling promotion was making plans to start touring other cities, Promoter Fantasy Wrestling came under audit by the Internal Revenue Service, accusing the promotion of falsifying tax records by exaggerating the number of fans attending the shows. IRS Agent Michael Cooke was quoted as saying; “We were alerted to possible exaggerated gate sales during a routine monthly inspection of PFW financial records. It’s highly impossible that a small independent organization with a budget of nearly nothing three months ago to boasting a fan attendance at their last show of 8,000 people, when other independent promotions, such as the Heartland Wrestling Association near Cincinnati, have been in business between 5-6 years and barely seat 100 people per show, including road trips and television tapings.”
Over the next several weeks, the IRS will be looking into all of PFW records and making the “proper” adjustments, meaning that every wrestler and teams’ income will be lowered to reflect actual fan attendance levels,
(OOC): I really hate doing this to everybody, but as I keep looking at the numbers that Graymar gives in his Business Model System for calculating New Fans Earned, it seems to me that the numbers are just too high for Fan Draw in an indy promotion, so I decided to play around with the numbers in PFW to better reflect Fan Draw. I thought of this "storyline" to give a hopefully plausible explanation as to what I'm about to do. Hopefully, it will alleviate the problem I’ve had of worrying about whether or not an actual arena’s going to fit the number of fans attending. After all, you have to admit, in three month’s time going from 0 to 8,000 fans for an independent promotion seems pretty far-fetched. At the current Fan Draw rate, there’d be no arena in the United States or the world, indoor or outdoor, which could hold a PFW show. Therefore, these are the new numbers I’ve come up with. Bear in mind that in the coming weeks, everybody’s Merchandise and Logo Pay will be adjusted to reflect these new figures. (I hope nobody gets p****d off at me for doing this, because that was not my intention.)
I. New Fans Earned for Regular Matches
A. Television Tapings/House Shows
1. Win – 2
2. Loss – 1
B. Pay-Per-Views
1. Win – 4
2. Loss – 2
II. Titles
A. PFW Heavyweight Title
1. Defended at least once a month
2. Ranks 1-5 eligible to challenge
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 25
b. First-Time Win, PPV – 50
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 15
d. Successful Title Defense/Re-Capture Title, PPV – 25
B. PFW US Heavyweight Title
1. Defended at least twice a month
2. Ranks 6-10 eligible to challenge
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 15
b. First-Time Win, PPV – 25
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 10
d. Successful Title Defense/Re-Capture Title, PPV – 15
C. PFW Hardcore Title
1. Defended at least weekly (tentative)
2. Open only to those in Hardcore Division
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 10
b. First-Time Win, PPV – 20
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 5
d. Successful Title Defense/Re-Capture Title, PPV – 10
D. PFW Tag Team Titles.
1. Defended at least once a month
2. Open only to those legally recognized teams in PFW
3. New Fans Earned
a. First-Time Win, TV Taping/House Show – 20
b. First-Time Win, PPV – 40
c. Successful Title Defense/Re-Capture Title, TV Taping/House Show – 10
d. Successful Title Defense/Re-Capture Title, PPV – 20
III. Wrestler/Team Pay
A. Pay-Per-Draw
1. TV Taping/House Shows - $.50
2. PPV - $1.00
B. Formula for Determining Merchandise Pay
1. Total Draw (TV Taping/House Show + PPV) * Sales Modifier * $10.00 = Gross Sales
2. Production Cost = ½ of Gross Sales
3. PFW Pay = ½ of Production Cost
4. Merchandise Pay = ½ of Production Cost
C. PFW Logo T-Shirt Pay
1. Fan Attendance / Number of Participants (Teams count as one participant) = Average Draw
2. Average Draw * Sales Modifier * $10.00 = Gross Sales
3. Production Cost = ½ of Gross Sales
4. PFW Pay = ½ of Production Cost
5. Logo Shirt Pay = ½ of Production Cost
6. Individual Logo Shirt Pay = Logo Shirt Pay / Number of Participants.
a. Any amount left over is given to the PFW Heavyweight Champion as a “Champion’s Bonus”
(Again, it's not my intention to p**s anybody off for changing the Draw numbers adjusting the Merchandise and Logo Pay to reflect the changes, only to present a more accurate representation of fan attendance in respect to independent promotions.)
OOC: I tried to re-adjust everybody's merchandise and logo pay while I was out doing my laundry, but I gave up and decided that it'll be too much hassle to do the retro-adjustments, so I'm going to let everybody who earned merchandise T-shirt pay keep what they earned, and everybody who earned logo T-Shirt pay will keep what they've earned, as well. I'm just going to go ahead and base future earnings on the new Draw numbers.