What now for the FLW Costa Championship this month?

[wiget10]

Agree! Totally bs by them not honoring it. Lots wouldn’t have fished had they known this. Jmo. Or maybe fished bass, or other trails.

[CaymasMan250]

Sounds like one group buying the competition out to put a stranglehold on the entire industry, benefits them and no one else.

[billspence]

I would think someone is on the hook for something here. A portion of the entries during the regular season presumably were put aside to fund these events. If I fished and earned the spot, not only am I disappointed in the event not happening, I want to know where that money is. FLW took a ton of people's money and set it aside for these big events. Now the event gets canceled and the money goes to...

[Shef]

I was just there practicing for 3 days. Going back on the 24th. Not too worried about what's to come. I'll just wait and see. After the prepractice I had not sure I'm going do that well. Deep and clear water is tough for me but the more I fish it the more I learn. Would much rather have my Titan HD, a 2oz weight, and some 80lb braid in my hand.

[BassCatKev]

Last year they paid put more then $280,000 in the Costa championship, including $97,000 to the winner. Payouts are the same this year.

Who is not show up to a no entry fee tournament with that kind of payout?

Very good point.

[Tico]

I would think someone is on the hook for something here. A portion of the entries during the regular season presumably were put aside to fund these events. If I fished and earned the spot, not only am I disappointed in the event not happening, I want to know where that money is. FLW took a ton of people's money and set it aside for these big events. Now the event gets canceled and the money goes to...

Because of the way (asset deal) MLF and FLW agreed to make sales transaction MLF is not "on the hook". You can thank FLW (almost) as much as MLF for this one.

[idbefishing]

Maybe they will allow the top finishers that would normally get to go to the Cup entry to the BPT

[c rig]

Chitty deal really. Think of all the expense $$ they were out fishing the season.

Look at the Bass Opens. BFLs, Costas, doesn’t matter....if you look up the anglers and what they e made versus just what they spent in entry fees, the majority at best break even. Lots of guys on the losing end of the stick every year. They know that going in.

Elites and FLW Tour are similar. Read the articles Kevin Short posted before he dropped out of the Elites.

There was a veteran FLW Tour guy who said it best, you try to keep from going bankrupt hoping you get that big check to balance it all out.

[c rig]

Sounds like one group buying the competition out to put a stranglehold on the entire industry, benefits them and no one else.

Isnt that Business 101?

[bware]

I do feel bad for anyone on the cusp of qualifying for that would-be Cup. When a company’s assets are purchased, do not they also purchase that company’s debts? Is there something in writing stating that there would be a Cup to qualify for?

[Hoot]

Why would anyone feel sorry for anyone who could afford to take a month off work rent a house on Cumberland, fish it plus the surrounding lakes everyday, then fish the Costa?

I'd venture to guess this fisherman isn't fishing the Costa to "Feed His Family" (another worn out BBC Cliche) is going to enjoy his experience and try to win some of the cash up for grabs.

It has been frequently suggested on here that the FLW was in poor financial shape and based on the amount of debt reported that Mr Jacobs had at the time of his death along with the ensuing legal battle over the estate it's a good chance that it's true.....

So is it any mystery where any extra money the FLW had in the "Coffers" might have gone?

So if you have a signed contract guaranteeing you a spot in the Cup and want that extra money back step in line with the rest of the creditors waiting to be paid.

The FLW might have folded and disappeared altogether if this group hadn't stepped in so all of the aspiring future Pros and serious part time tournament anglers still have an opportunity to "Live The Dream".

[bdog7198]

Why would anyone feel sorry for anyone who could afford to take a month off work rent a house on Cumberland, fish it plus the surrounding lakes everyday, then fish the Costa?

I'd venture to guess this fisherman isn't fishing the Costa to "Feed His Family" (another worn out BBC Cliche) is going to enjoy his experience and try to win some of the cash up for grabs.

It has been frequently suggested on here that the FLW was in poor financial shape and based on the amount of debt reported that Mr Jacobs had at the time of his death along with the ensuing legal battle over the estate it's a good chance that it's true.....

So is it any mystery where any extra money the FLW had in the "Coffers" might have gone?

So if you have a signed contract guaranteeing you a spot in the Cup and want that extra money back step in line with the rest of the creditors waiting to be paid.

The FLW might have folded and disappeared altogether if this group hadn't stepped in so all of the aspiring future Pros and serious part time tournament anglers still have an opportunity to "Live The Dream".

If FLW would have folded instead of being purchased the complaining would have been about how MLF and Boyd did not buy it and save parts of it......

[Jeff Hahn]

I do feel bad for anyone on the cusp of qualifying for that would-be Cup. When a company’s assets are purchased, do not they also purchase that company’s debts? Is there something in writing stating that there would be a Cup to qualify for?

I would think that this deal could be thought of as a contract. FLW offered anglers a chance to compete in the event, if they met certain criteria, that is...they qualified. The qualifying anglers met those criteria and are, therefore, entitled to participate in the promised tournament. How would the fact that FLW sold its assets relieve them of their contractual obligations? I don’t believe that it should, but I don’t know if, legally speaking, it does.

[RoughThumbBG]

Think the payout is based on participation in qualifying events. Probably be less than stated because of lower participation this year.

True. I should have said payouts are "similar", but my point is the same. Let's not split hairs.

[Rangerdawg]

I fish tournaments to unfeed my family ....unfortunately

[BassCatKev]

Maybe they will allow the top finishers that would normally get to go to the Cup entry to the BPT

Excellent discussions. This here is the type of questions I'm interested in as the OP. Have those fishing the Costa Championship been informed of the specific changes (other than the obvious one of no FLW Cup)? I would think by official practice time in a couple of weeks they are owed that. I realize there is money to be won. Some guys fished the Costas to get an invite to the Tour or to at least have the OPTION to fish the tour if they can get their finances together. I get there is a "reset" going on, but there is a little time here to make the transition go smoothly and not affect those in the middle of preparing for championships any more than absolutely necessary. It's possible the participants have received texts or emails giving them updates on changes. But it looks like there are a few participants on this thread and they haven't mentioned it.

This tournament is a pretty big deal. I enjoy when the higher level tours come to my home lake. I remember this tournament being here when Ehrler won it to start his career. There are some huge names qualified to fish it. Thrift and on down the list is a lot of sticks.

[jrbdad]

How many people that are upset over this actually fished Costas and would have qualified for the cup?

[BassCatKev]

How many people that are upset over this actually fished Costas and would have qualified for the cup?

Someone with a better memory can probably be more specific than me, but over the past 15 years I can recall a multitude of disclosed ways people could qualify for the Cup and/or Tour through this tournament. Some years it was the highest finishing person from each division in this championship tournament earned a spot in the Cup. Other years it was different stuff. The Costas (previously Everstarts) have always been an additional avenue to make the Tour and Cup.

[D.O.C. 989]

Because of the way (asset deal) MLF and FLW agreed to make sales transaction MLF is not "on the hook". You can thank FLW (almost) as much as MLF for this one.

I'm with you on this assessment but it won't go over well with this crowd.

[dartag1829]

Sounds like one group buying the competition out to put a stranglehold on the entire industry, benefits them and no one else.

Gordon Gekko ( Wall Street Movie ) would be proud of Boyd. " Greed, for lack of a better word, is good. "