The LA Times is reporting that a group of unnamed European Investors have come to terms to purchase a majority stake in the online poker site. The deal would also facilitate the repayment of US player funds that have been frozen since April 15, 2011 –known as Black Friday in the poker world. While no monetary numbers were given, the sale would apparently see a large enough infusion of cash to cover the estimated $150 million owed to US players, as well as to settle Full Tilt Poker’s part of the $3 billion civil suit filed by the US government in conjunction with the criminal indictments that were handed out in the case. It was also discovered that Phil Ivey, who filed a $150 million breach of contract lawsuit against the company he has represented for over five years, will ask for the case to be dismissed in light of the new developments. According to Ivey’s lawyer, David Chesnoff, “Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid," PokerNews.com is also reporting that they have spoken to several sources at Full Tilt Poker who corroborated the LA Times story, however, they also stated that there were still “a few remaining obstacles that need to be cleared before a deal is confirmed.”
