Did Antonio's gamble pay off?
World Series Of Poker Episode 27 Tease
"I've had a few offers, but I'm not going to settle for something I don't think I'm worth, which would dilute myself as a brand. I don't want to toot my own horn, but I think a patch on me is worth more than one on a random dude because I've been around for a long time and have been on a lot of poker shows. I'm a familiar face. I've worked too hard to settle for the same deal or even a slightly better deal than what some of the other guys are getting. If they want me to wear a patch, they've got to pay me heavy. Six figures or they can kiss my …" -- Antonio Esfandiari (warning: spoiler)
Antonio said the above mid-exhale at the end of Day 7 of the 2009 World Series of Poker main event. He'd been riding the short stack amid a card-dead stretch for most of the day, and a superlative effort was required to survive, but poker wasn't the only game being played at this point of the biggest -- and longest -- tournament in the world. He was keeping his head in the other game as well.
As detailed in the article hyperlinked above, Esfandiari was playing another kind of poker. He and his agents at Poker Royalty were staring the biggest online sites in the world straight in the eyes and refusing to blink. Generally considered the second most recognizable player left in the field of 27 (after Phil something-or-other …), Esfandiari was enjoying the uncertainty of being in the right place at the right time, unaffiliated for the first time in years after deals with Paradise Poker, UltimateBet and the World Poker Tour. In short, he was offering a short burst of guaranteed, highly visible exposure and was obviously looking for a lot in return. In addition to the aforementioned six figures, he had hopes for a longer-term deal.
"Of course I wanted the long-term deal," admitted Esfandiari, who has won both a WSOP bracelet and a WPT title. "We'd all love the deal where we don't pay for tournaments and get paid to make appearances."
When Esfandiari left the building at the end of Day 7, he was patchless. As you'll see Tuesday night in the WSOP episodes starting Tuesday at 9 p.m. on ESPN, when he arrived for Day 8, he proudly bore Doyle's Room green on his chest. It was a suitable emblem considering what it must have taken to finally get the deal done.
"It was a really exciting time," said Brian Balsbaugh, founder of Poker Royalty. "Multiple companies wanted to work with Antonio and have him wear their logos. We felt Doyle's Room was the best opportunity at the time. They're an up-and-coming site with a great brand and people behind it. We saw a great chance for him to grow with them."
According to Balsbaugh and Esfandiari, the deal they signed was a one-tournament deal with massive potential dividends that would vest if Esfandiari reached that final table. Considering Esfandiari's original statements regarding a desire for a long-term deal, one could interpret this as a failure to reach their collective objectives.
One player who could relate to Esfandiari's situation was Joe Sebok.
"Everybody's in a different situation when it comes to sponsorship," said Sebok, whose recent signing with UltimateBet has been among poker's hottest water-cooler topics of late. "Guys like Antonio and I will be on the scene for a while, so we want more than just a main-event deal. We bring a little more to the table as far as exposure and so on."
When asked for his thoughts on Esfandiari's staredown, Sebok explained that for live tournament regulars like him and Esfandiari, the math is a little different. "It sounds trite and terrible, but the truth is, $60,000 or $70,000 isn't that big a deal because of the costs of the lifestyle."
"You may take $50,000 to $80,000 to wear a logo for a day, but it impacts your brand down the line," Balsbaugh said. "I'm a big believer that you can't be a logo hopper. It diminishes your brand if you show up in a different logo every time you're on TV."
"In my opinion, it really makes sense to hold out, especially for Antonio," Sebok said. "He's so media-friendly, so recognizable. Did it take guts? I mean, it just took sticking to his guns. I totally respect that he did that. For him, the gamble was probably worth it. You get so much more long-term than you do with a main-event deal, and expenses to stay on the circuit are so high, you have to make those gambles when making your big deals."
With the combination of airfare, accommodation costs that skyrocket when you're staying in the proximity of the high-caliber casinos that host major events, and the expenses involved in keeping up a lifestyle consistent with that of an entertainer/brand/businessperson, annual costs for traveling pros are often in the $400,000-$450,000 range. With that in mind, Sebok held out through his Day 7 elimination with an eye on long-term sponsorship. It took almost three months for him to complete negotiations with UltimateBet.
"A common misconception is that deals happen overnight," said Balsbaugh, who continues to negotiate a long-term deal with Doyle's Room. "It's not true. Most take months to come to fruition. The timing of this is pretty typical.
"We haven't finalized, but we're in talks," Balsbaugh continued. "He doesn't need the money, so it just has to be a really good fit. Money is one of the big factors in why you do it, but he's not hurting. Antonio's a winning cash-game player. The top guys use endorsements to supplement their winnings, not to make a living. With Antonio, it has to be a special situation. It has to be lucrative with an opportunity to grow."
Of course, as with poker, the parties in this game present what they want as they bob and weave their way to maximum value. Esfandiari knows to stick to the game he knows. "It's a game, like poker, but I'm not playing the game. I don't have much to do with the process. I leave it to the guys who are the professionals. That's why I have an agent that takes care of everything for me." Did they lose the other game? Only time and logos will eventually answer that question.
Tune in Tuesday night to see Esfandiari stick to what he knows, and whether he got to the sponsorship promised land.
Gary Wise is a poker columnist for ESPN.com.
