Hearn reveals blueprint for snooker 31/03/2010 |
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Barry Hearn wants his Matchroom Sport business to take a controlling interest in the commercial side of snooker.
Hearn is proposing that a new business be set up to buy World Snooker Ltd, the business arm of the World Professional Billiard and Snooker Association, for a nominal £1 fee.
Shares valued at £500,000 would then be issued, and Matchroom would take up a 51 per cent stake, with the rest split between commercial partners and the players.
Hearn was appointed chairman of the World Professional Billiard and Snooker Association in December, replacing Sir Rodney Walker, but he could give up that role if he gets the go-ahead to run the commercial side of the sport.
As part of Hearn’s plans to inject new life into snooker, new tournaments have been announced for next season, including a four-day ranking event in Berlin to be known as the European Masters.
The Grand Prix, staged in Glasgow, will be brought forward from October to September and rebranded as the World Open. There are also plans for a one-frame knock-out event in January 2011.
On top of that, Hearn wants to raise prize money from £3.5m to a minimum of £4.5m in each of the next three seasons.
The players will decide whether they back Hearn’s plans in a vote on May 5. Hearn has said he will walk away from the WPBSA if the players do not support him.
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