2007 American Idol Pool Payment and Payout Information

Dear Idol contestants,

As the chair of the American Idol Pool Financial Resources Committee, I'd like to announce the payment method and process for this year's tournament, along with the pay-out scale for the winners. After much conversation, it has been decided that the fee for entering the tournament will be $10.00.

As of now, there are 51 people in the pool. The top five winners will make a profit with their winnings -- the remainder of the money will be split among those who have correctly identified this year's American Idol. If you are the only person to correctly identify this year's American Idol, you get the whole side pot. It happened last year!

The pay-out scale is as follows:

1st Place : $200
2nd Place: $100
3rd Place: $50
4th Place: $30
5th Place: $20
Winners Pool: $100

Please note that if more than 10 people select the same contestant as their American Idol, and that finalist actually becomes this season's American Idol, then rather than splitting the pot up in miniscule amounts, we will donate the $100 to charity. The charity will be selected by the person with the highest score who has named the American Idol correctly.


I would also like to thank the Idol Pool Governing Board for allowing me to continue to serve as the AIPFRC chair. I know that many of you were concerned after the recent press release that questioned my ability to manage money ethically and with social responsibility. It has been a difficult couple of months for me and my family and I appreciate the Governing Board's continued support. Needless to say, it would be in everybody's best interest to route their American Idol dues through a different member of our organization. Please make checks payable to Mr. Matt Lane at the following address:

Matt Lane
1407 W. Summerdale Ave, 3rd floor
Chicago, IL 60640

Payment is due by March 1st!!!!!!

Unfortunately, with words like "embezzlement" being bandied about, it makes sense to remove myself from the competition. Even though I cannot participate in the tournament, I will be keeping a close eye on all that happens at Idol Pool Headquarters. If you have any questions about the financial component of the tournament, please email our intern, Debbie, at idolpool@gmail.com. Debbie will relay the message to me, JoJo Conroy.