Ivey No Longer Backing?

Word on the street is that Phil Ivey will no longer be backing players. Ivey, who is rumored to be one of the biggest backers on the tournament circuit, will no longer be buying his friends into events. He's believed to be the money behind many players including Michael Mizrachi, David Williams and Paul Darden.

No real reason was given for his change of heart. He's been doing well in most games he's being watched in so it's not a lack of funds. Perhaps Phil hasn't seen a good return on his investment or keeping track of his horses has been taking up too much of his time.