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boats and trailers.7 Pursuant to the agreement, CAST uses a
specified number of new Ranger boats for 1 year and then trades
the boats for newer models.8
Various local businesses near tournament sites are also
beginning to sponsor CAST tournaments by providing free services
for directors, such as meals and lodging, as a way of attracting
future business from CAST. Various municipalities have also paid
subsidies to CAST in order to attract the annual Classic
Tournament to their community.
CAST has also expanded its activities beyond merely holding
regional tournaments and was scheduled to participate as one of
the qualifying circuits9 for the Millennium Invitational
Tournament (Millennium Tournament) in November 1999. The top
prize in the Millennium Tournament, sponsored by Ranger Boats, is
valued at $1 million.
In 1996, Mr. Taylor made petitioner a Supervising Director
of CAST. As CAST’s only Supervising Director, petitioner is
entitled to receive part of the fees collected by the regional
7 By 1997, Ranger Boats provided CAST with five boats and
trailers. The boats are valued between $32,000 and $39,000 each.
8 CAST agreed to pay freight costs and keep the boats
individually insured. CAST negotiated reduced insurance rates on
the boats as part of a sponsorship agreement with Bait Insurance.
9 CAST is one of only two qualifying circuits for the
Millennium Tournament in Texas.
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Last modified: May 25, 2011