The world of Full tilt Poker continues to be beset by rumors and innuendo, but little in the way of hard facts. That’s the current state of affairs when it comes to full tilt poker news, and that’s the way it’s likely to stay for the time being.
What we do know at this point is that the sale, contrary to rumors, is apparently far from dead. That’s the word from all parties who are speaking to the media on both sides. While some sources (especially WickedChops) are quite negative on the possibility of sale, we do have confirmation that Groupe Bernard Tapie is in meetings with the US Department of Justice.
An agreement between those two parties is perhaps the most critical hurdle to a deal for Full Tilt Poker, as the money frozen by the DoJ may represent the best chance of players to be repaid – at least in part – as a company taking over Full Tilt would be unlikely to simply eat player balances as part of the purchase.
What is clear at this point is that Groupe Bernard Tapie does not have anything near the amount of funds needed to purchase the company outright. That puts the Groupe in a difficult position; trying to motivate investors in a project that has so many uncertainties is no doubt at best a daunting task. They’re likely in a Catch-22, with the DOJ demanding proof of funds before making a deal, and investors demanding word from the DOJ before they will commit funds.
After a relatively quiet week regarding news on the FTP sale, we expect the next two weeks to produce a major announcement one way or another. How that announcement will impact the future of trapped funds on the site is hard to say, but we’re all obviously hoping for the positive while preparing for the negative.